PGGM Investments boosted its stake in Realty Income Corp. (NYSE:O) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 1,743,169 shares of the company’s stock after buying an additional 2,307 shares during the period. PGGM Investments’ holdings in Realty Income Corp. were worth $120,906,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Terra Nova Asset Management LLC increased its stake in Realty Income Corp. by 35.3% in the first quarter. Terra Nova Asset Management LLC now owns 9,644 shares of the company’s stock valued at $603,000 after buying an additional 2,515 shares during the period. Virginia Retirement System bought a new stake in Realty Income Corp. during the first quarter valued at about $13,121,000. Nisa Investment Advisors L.L.C. increased its stake in Realty Income Corp. by 11.4% in the first quarter. Nisa Investment Advisors L.L.C. now owns 124,780 shares of the company’s stock valued at $7,800,000 after buying an additional 12,800 shares during the period. Mn Services Vermogensbeheer B.V. bought a new stake in Realty Income Corp. during the first quarter valued at about $342,000. Finally, Aperio Group LLC increased its stake in Realty Income Corp. by 45.5% in the first quarter. Aperio Group LLC now owns 45,867 shares of the company’s stock valued at $2,867,000 after buying an additional 14,351 shares during the period. 70.97% of the stock is currently owned by institutional investors.
Shares of Realty Income Corp. (NYSE:O) traded up 1.78% during trading on Wednesday, hitting $66.76. The stock had a trading volume of 1,458,175 shares. Realty Income Corp. has a 12-month low of $45.65 and a 12-month high of $72.30. The stock has a market capitalization of $17.26 billion, a P/E ratio of 61.25 and a beta of 0.39. The stock’s 50-day moving average is $66.79 and its 200-day moving average is $64.64.
Realty Income Corp. (NYSE:O) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by $0.02. Realty Income Corp. had a return on equity of 5.08% and a net margin of 27.95%. The firm had revenue of $260.06 million for the quarter, compared to the consensus estimate of $274.34 million. During the same quarter in the prior year, the firm earned $0.69 EPS. The company’s revenue was up 7.7% on a year-over-year basis. Analysts predict that Realty Income Corp. will post $2.85 EPS for the current fiscal year.
The company also recently disclosed a oct 16 dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be issued a dividend of $0.202 per share. This represents a dividend yield of 3.77%. The ex-dividend date of this dividend is Thursday, September 29th. This is a boost from Realty Income Corp.’s previous oct 16 dividend of $0.20. Realty Income Corp.’s payout ratio is currently 222.02%.
Several analysts recently weighed in on O shares. BTIG Research started coverage on Realty Income Corp. in a research note on Thursday, August 25th. They set a “neutral” rating for the company. Vetr downgraded Realty Income Corp. from a “sell” rating to a “strong sell” rating and set a $58.50 target price for the company. in a research note on Monday, June 27th. Citigroup Inc. increased their target price on Realty Income Corp. from $50.00 to $60.00 and gave the company a “sell” rating in a research note on Thursday, July 7th. Royal Bank Of Canada increased their target price on Realty Income Corp. from $58.00 to $66.00 and gave the company a “sector perform” rating in a research note on Monday, August 1st. Finally, Stifel Nicolaus increased their target price on Realty Income Corp. from $66.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $65.14.
In other news, SVP Benjamin N. Fox sold 2,174 shares of the business’s stock in a transaction that occurred on Friday, June 24th. The stock was sold at an average price of $65.79, for a total transaction of $143,027.46. Following the completion of the sale, the senior vice president now owns 12,130 shares in the company, valued at $798,032.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ronald Merriman sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $66.68, for a total value of $166,700.00. Following the completion of the sale, the director now owns 12,075 shares of the company’s stock, valued at $805,161. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.
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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