Dividend Assets Capital LLC lowered its position in Realty Income Corp. (NYSE:O) by 7.6% during the second quarter, Holdings Channel reports. The institutional investor owned 3,000 shares of the company’s stock after selling 248 shares during the period. Dividend Assets Capital LLC’s holdings in Realty Income Corp. were worth $208,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. Rehmann Capital Advisory Group purchased a new position in Realty Income Corp. during the second quarter valued at approximately $202,000. Stock Yards Bank & Trust Co. purchased a new position in Realty Income Corp. during the second quarter valued at approximately $203,000. Gofen & Glossberg LLC IL purchased a new position in Realty Income Corp. during the second quarter valued at approximately $209,000. LVM Capital Management Ltd. MI purchased a new position in Realty Income Corp. during the second quarter valued at approximately $214,000. Finally, Cue Financial Group Inc. purchased a new position in Realty Income Corp. during the second quarter valued at approximately $220,000. 70.99% of the stock is owned by hedge funds and other institutional investors.
Shares of Realty Income Corp. (NYSE:O) traded down 0.99% during mid-day trading on Friday, reaching $66.93. The company’s stock had a trading volume of 1,470,509 shares. Realty Income Corp. has a 52 week low of $45.98 and a 52 week high of $72.30. The stock has a market capitalization of $17.31 billion, a price-to-earnings ratio of 61.40 and a beta of 0.39. The company’s 50-day moving average is $66.62 and its 200-day moving average is $65.05.
Realty Income Corp. (NYSE:O) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by $0.02. The company earned $260.06 million during the quarter, compared to analyst estimates of $274.34 million. Realty Income Corp. had a net margin of 27.95% and a return on equity of 5.08%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.69 earnings per share. Equities analysts predict that Realty Income Corp. will post $2.85 EPS for the current year.
The business also recently disclosed a oct 16 dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be paid a $0.202 dividend. This is a boost from Realty Income Corp.’s previous oct 16 dividend of $0.20. This represents a dividend yield of 3.77%. The ex-dividend date of this dividend is Thursday, September 29th. Realty Income Corp.’s dividend payout ratio (DPR) is presently 222.02%.
A number of brokerages have recently issued reports on O. Citigroup Inc. lifted their price target on Realty Income Corp. from $50.00 to $60.00 and gave the company a “sell” rating in a report on Thursday, July 7th. RBC Capital Markets reiterated a “sector perform” rating and issued a $66.00 price target (up from $58.00) on shares of Realty Income Corp. in a report on Monday, August 1st. Vetr downgraded Realty Income Corp. from a “sell” rating to a “strong sell” rating and set a $58.50 price target on the stock. in a report on Monday, June 27th. Stifel Nicolaus lifted their price target on Realty Income Corp. from $66.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Finally, Zacks Investment Research upgraded Realty Income Corp. from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a report on Wednesday, July 27th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Realty Income Corp. currently has an average rating of “Hold” and an average price target of $64.31.
In other news, Director Ronald Merriman sold 2,500 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $66.68, for a total value of $166,700.00. Following the sale, the director now directly owns 12,075 shares in the company, valued at $805,161. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen Allen sold 4,000 shares of the stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $70.49, for a total value of $281,960.00. Following the completion of the sale, the director now owns 74,000 shares in the company, valued at $5,216,260. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.
About Realty Income Corp.
Realty Income Corporation is a real estate investment trust (REIT). The Company is engaged in in-house acquisition, portfolio management, asset management, credit research, real estate research, legal, finance and accounting, information technology and capital markets capabilities. Its portfolio includes approximately 4,540 properties, of which over 4,519 are single-tenant properties, and the remaining are multi-tenant properties.
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