Rench Wealth Management Inc. Has $4.15 Million Stake in Realty Income Corp (O)

Rench Wealth Management Inc. lessened its position in shares of Realty Income Corp (NYSE:O) by 10.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 72,771 shares of the real estate investment trust’s stock after selling 8,475 shares during the quarter. Realty Income comprises about 2.7% of Rench Wealth Management Inc.’s holdings, making the stock its 14th largest position. Rench Wealth Management Inc.’s holdings in Realty Income were worth $4,149,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in Realty Income by 10.9% in the third quarter. JPMorgan Chase & Co. now owns 4,436,861 shares of the real estate investment trust’s stock valued at $256,540,000 after purchasing an additional 437,803 shares during the period. Bank of New York Mellon Corp raised its position in Realty Income by 8.0% in the third quarter. Bank of New York Mellon Corp now owns 4,345,915 shares of the real estate investment trust’s stock valued at $248,543,000 after purchasing an additional 322,239 shares during the period. Dimensional Fund Advisors LP raised its position in Realty Income by 2.2% in the third quarter. Dimensional Fund Advisors LP now owns 3,774,476 shares of the real estate investment trust’s stock valued at $215,866,000 after purchasing an additional 81,691 shares during the period. APG Asset Management US Inc. raised its position in Realty Income by 36.5% in the fourth quarter. APG Asset Management US Inc. now owns 2,882,000 shares of the real estate investment trust’s stock valued at $164,332,000 after purchasing an additional 770,700 shares during the period. Finally, Wells Fargo & Company MN raised its position in Realty Income by 7.0% in the third quarter. Wells Fargo & Company MN now owns 2,626,834 shares of the real estate investment trust’s stock valued at $150,228,000 after purchasing an additional 172,658 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Realty Income Corp (O) opened at $47.56 on Friday. The company has a market cap of $13,784.94, a price-to-earnings ratio of 38.98, a price-to-earnings-growth ratio of 3.54 and a beta of 0.14. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.26 and a quick ratio of 1.26. Realty Income Corp has a 12 month low of $47.54 and a 12 month high of $63.60.

The company also recently announced a feb 18 dividend, which will be paid on Thursday, February 15th. Investors of record on Thursday, February 1st will be paid a dividend of $0.219 per share. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a dividend yield of 0.00413675859463544%. This is an increase from Realty Income’s previous feb 18 dividend of $0.21. Realty Income’s payout ratio is presently 215.57%.

Several equities analysts have commented on O shares. Raymond James Financial upgraded shares of Realty Income from an “underperform” rating to a “market perform” rating in a research note on Wednesday, December 20th. Stifel Nicolaus restated a “buy” rating and issued a $65.00 price target on shares of Realty Income in a research note on Wednesday, November 1st. Citigroup upgraded shares of Realty Income to a “market perform” rating in a research note on Wednesday, December 20th. They noted that the move was a valuation call. B. Riley set a $56.00 price target on shares of Realty Income and gave the stock a “hold” rating in a research note on Tuesday, January 2nd. Finally, Ladenburg Thalmann Financial Services restated a “hold” rating on shares of Realty Income in a research note on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $64.09.

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Realty Income Company Profile

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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Institutional Ownership by Quarter for Realty Income (NYSE:O)

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