First Trust Advisors LP boosted its stake in shares of Realty Income Corporation (NYSE:O) by 9.8% during the second quarter, Holdings Channel reports. The institutional investor owned 451,826 shares of the real estate investment trust’s stock after buying an additional 40,407 shares during the period. First Trust Advisors LP’s holdings in Realty Income Corporation were worth $24,932,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in O. Founders Capital Management purchased a new position in shares of Realty Income Corporation during the first quarter valued at approximately $107,000. Harbour Capital Advisors LLC purchased a new position in shares of Realty Income Corporation during the first quarter valued at approximately $119,000. Bessemer Group Inc. increased its position in shares of Realty Income Corporation by 42.1% in the second quarter. Bessemer Group Inc. now owns 2,200 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 652 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in shares of Realty Income Corporation during the first quarter valued at approximately $144,000. Finally, IHT Wealth Management LLC increased its position in shares of Realty Income Corporation by 6.1% in the first quarter. IHT Wealth Management LLC now owns 2,501 shares of the real estate investment trust’s stock valued at $149,000 after buying an additional 143 shares in the last quarter. Institutional investors and hedge funds own 68.67% of the company’s stock.
Shares of Realty Income Corporation (NYSE O) opened at 57.61 on Thursday. The firm’s 50 day moving average is $56.51 and its 200-day moving average is $57.87. The company has a market cap of $15.79 billion, a PE ratio of 49.28 and a beta of 0.32. Realty Income Corporation has a 1-year low of $52.72 and a 1-year high of $69.40.
Realty Income Corporation (NYSE:O) last posted its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.76 EPS for the quarter, hitting the consensus estimate of $0.76. Realty Income Corporation had a net margin of 29.19% and a return on equity of 5.14%. The business had revenue of $300.20 million for the quarter, compared to analyst estimates of $289.86 million. During the same quarter in the previous year, the firm posted $0.70 earnings per share. Realty Income Corporation’s quarterly revenue was up 10.8% on a year-over-year basis. Equities analysts expect that Realty Income Corporation will post $1.19 earnings per share for the current year.
The firm also recently disclosed a aug 17 dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st were paid a dividend of $0.2115 per share. This represents a yield of 4.63%. The ex-dividend date of this dividend was Friday, July 28th. Realty Income Corporation’s payout ratio is currently 217.09%.
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O has been the subject of several research analyst reports. Canaccord Genuity initiated coverage on shares of Realty Income Corporation in a research report on Tuesday, July 18th. They set a “buy” rating and a $61.00 price objective for the company. Stifel Nicolaus restated a “buy” rating and set a $65.00 price objective on shares of Realty Income Corporation in a research report on Friday, July 14th. BidaskClub upgraded shares of Realty Income Corporation from a “sell” rating to a “hold” rating in a research report on Sunday, July 16th. Ladenburg Thalmann Financial Services restated a “hold” rating on shares of Realty Income Corporation in a research report on Thursday, July 27th. Finally, FBR & Co initiated coverage on shares of Realty Income Corporation in a research report on Monday, July 17th. They set a “market perform” rating and a $56.00 price objective for the company. Four analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $63.68.
In related news, Director Priya Cherian Huskins sold 8,000 shares of the business’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $56.23, for a total transaction of $449,840.00. Following the sale, the director now owns 20,513 shares of the company’s stock, valued at $1,153,445.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.30% of the company’s stock.
About Realty Income Corporation
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. As of December 31, 2016, the Company owned a diversified portfolio of 4,944 properties located in 49 states and Puerto Rico, with over 83.0 million square feet of leasable space leased to 248 different commercial tenants doing business in 47 separate industries.
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