Successful Portfolios LLC purchased a new stake in Realty Income Corp (NYSE:O) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,643 shares of the real estate investment trust’s stock, valued at approximately $217,000.
Several other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in Realty Income during the fourth quarter worth about $223,480,000. Waratah Capital Advisors Ltd. grew its position in Realty Income by 101.9% during the first quarter. Waratah Capital Advisors Ltd. now owns 27,831 shares of the real estate investment trust’s stock worth $1,388,000 after buying an additional 1,508,031 shares in the last quarter. Advisor Group Holdings Inc. acquired a new stake in Realty Income during the first quarter worth about $27,604,000. Prudential PLC acquired a new stake in Realty Income during the first quarter worth about $57,035,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in Realty Income by 50.8% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,869,688 shares of the real estate investment trust’s stock worth $143,083,000 after buying an additional 966,903 shares in the last quarter. 73.54% of the stock is currently owned by institutional investors.
NYSE:O opened at $56.83 on Tuesday. Realty Income Corp has a 1 year low of $38.00 and a 1 year high of $84.92. The firm has a 50 day moving average of $59.31 and a 200-day moving average of $63.76. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $19.57 billion, a P/E ratio of 38.92, a price-to-earnings-growth ratio of 5.44 and a beta of 0.66.
Realty Income (NYSE:O) last posted its earnings results on Monday, May 4th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.39). Realty Income had a net margin of 30.44% and a return on equity of 4.95%. The firm had revenue of $414.30 million during the quarter, compared to the consensus estimate of $399.61 million. During the same quarter last year, the firm posted $0.37 EPS. The business’s revenue was up 16.9% on a year-over-year basis. As a group, analysts forecast that Realty Income Corp will post 3.3 EPS for the current fiscal year.
The company also recently announced a aug 20 dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be paid a $0.2335 dividend. The ex-dividend date of this dividend is Friday, July 31st. Realty Income’s dividend payout ratio (DPR) is currently 84.34%.
A number of research firms recently weighed in on O. Deutsche Bank raised Realty Income from a “hold” rating to a “buy” rating and decreased their target price for the stock from $78.00 to $66.00 in a research report on Wednesday, March 25th. DA Davidson decreased their price objective on Realty Income from $90.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, March 19th. TheStreet raised Realty Income from a “c+” rating to a “b-” rating in a report on Wednesday, July 1st. Berenberg Bank began coverage on Realty Income in a report on Tuesday, June 30th. They set a “buy” rating and a $70.00 price objective on the stock. Finally, Citigroup lifted their price objective on Realty Income from $49.00 to $61.00 and gave the company a “neutral” rating in a report on Thursday, July 2nd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Realty Income presently has a consensus rating of “Buy” and an average price target of $72.93.
Realty Income Profile
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 5,700 real estate properties owned under long-term lease agreements with regional and national commercial tenants.
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