Baird Financial Group Inc. raised its position in Realty Income Co. (NYSE:O) by 5.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 91,341 shares of the real estate investment trust’s stock after purchasing an additional 4,561 shares during the period. Baird Financial Group Inc.’s holdings in Realty Income were worth $5,801,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of O. Norges Bank acquired a new position in shares of Realty Income during the 4th quarter valued at $219,493,000. Morgan Stanley lifted its position in shares of Realty Income by 86.4% during the 4th quarter. Morgan Stanley now owns 3,607,707 shares of the real estate investment trust’s stock valued at $224,290,000 after acquiring an additional 1,672,570 shares during the period. BlackRock Inc. lifted its position in shares of Realty Income by 4.5% during the 1st quarter. BlackRock Inc. now owns 35,817,931 shares of the real estate investment trust’s stock valued at $2,274,440,000 after acquiring an additional 1,536,242 shares during the period. Resolution Capital Ltd lifted its position in shares of Realty Income by 26.3% during the 4th quarter. Resolution Capital Ltd now owns 4,533,580 shares of the real estate investment trust’s stock valued at $281,853,000 after acquiring an additional 944,583 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Realty Income by 21.7% during the 4th quarter. Bank of New York Mellon Corp now owns 4,404,350 shares of the real estate investment trust’s stock valued at $273,819,000 after acquiring an additional 785,327 shares during the period. Hedge funds and other institutional investors own 70.30% of the company’s stock.
In other news, Director Ronald Merriman sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, June 11th. The shares were sold at an average price of $70.05, for a total value of $280,200.00. Following the transaction, the director now owns 22,075 shares in the company, valued at $1,546,353.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by company insiders.
O has been the subject of a number of recent research reports. Mizuho upgraded shares of Realty Income from a “neutral” rating to a “buy” rating and set a $77.00 price target for the company in a research note on Thursday, June 3rd. Morgan Stanley boosted their price target on shares of Realty Income from $74.00 to $81.00 and gave the stock an “overweight” rating in a report on Thursday, June 3rd. Wolfe Research assumed coverage on shares of Realty Income in a report on Monday, June 14th. They issued a “peer perform” rating and a $79.00 price target on the stock. Raymond James upped their price objective on shares of Realty Income from $71.00 to $76.00 and gave the company an “outperform” rating in a report on Thursday, June 17th. Finally, BMO Capital Markets downgraded shares of Realty Income from an “outperform” rating to a “market perform” rating in a report on Thursday, May 6th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $73.11.
Shares of NYSE O opened at $67.48 on Wednesday. Realty Income Co. has a one year low of $56.33 and a one year high of $71.84. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.45 and a quick ratio of 2.45. The company’s 50 day simple moving average is $68.23. The company has a market capitalization of $25.20 billion, a PE ratio of 69.57, a P/E/G ratio of 5.09 and a beta of 0.73.
Realty Income (NYSE:O) last issued its quarterly earnings results on Sunday, May 2nd. The real estate investment trust reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.04). Realty Income had a net margin of 20.51% and a return on equity of 3.17%. The business had revenue of $442.80 million for the quarter, compared to the consensus estimate of $413.59 million. During the same quarter in the previous year, the business earned $0.88 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. Sell-side analysts forecast that Realty Income Co. will post 3.44 earnings per share for the current year.
The company also recently announced a monthly dividend, which will be paid on Thursday, July 15th. Stockholders of record on Thursday, July 1st will be issued a $0.235 dividend. This represents a $2.82 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend is Wednesday, June 30th. Realty Income’s dividend payout ratio is 83.19%.
About Realty Income
Realty Income, The Monthly Dividend Company, is an S&P 500 company dedicated to providing stockholders with dependable monthly income. The company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 6,500 real estate properties owned under long-term lease agreements with our commercial clients.
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