Mitchell Mcleod Pugh & Williams Inc. grew its stake in shares of Realty Income Corp (NYSE:O) by 5.4% during the fourth quarter, Holdings Channel reports. The fund owned 7,755 shares of the real estate investment trust’s stock after buying an additional 400 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Realty Income were worth $489,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Gilman Hill Asset Management LLC bought a new position in shares of Realty Income in the 3rd quarter worth approximately $209,000. DNB Asset Management AS lifted its stake in shares of Realty Income by 5.2% in the 3rd quarter. DNB Asset Management AS now owns 34,389 shares of the real estate investment trust’s stock worth $1,956,000 after purchasing an additional 1,689 shares during the period. Bell Rock Capital LLC bought a new position in shares of Realty Income in the 3rd quarter worth approximately $104,000. NEXT Financial Group Inc bought a new position in shares of Realty Income in the 3rd quarter worth approximately $172,000. Finally, Columbia Asset Management bought a new position in shares of Realty Income in the 3rd quarter worth approximately $228,000. 69.69% of the stock is currently owned by hedge funds and other institutional investors.
O has been the topic of a number of recent analyst reports. Citigroup upgraded shares of Realty Income from a “sell” rating to a “neutral” rating and raised their target price for the stock from $56.00 to $67.00 in a research note on Wednesday, December 12th. Bank of America upgraded shares of Realty Income from a “neutral” rating to a “buy” rating and set a $72.00 target price on the stock in a research note on Thursday, November 15th. Zacks Investment Research upgraded shares of Realty Income from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research note on Thursday, January 3rd. Royal Bank of Canada raised their target price on shares of Realty Income from $57.00 to $60.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 6th. Finally, ValuEngine upgraded shares of Realty Income from a “hold” rating to a “buy” rating in a research note on Tuesday, October 23rd. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $59.00.
Realty Income (NYSE:O) last released its quarterly earnings data on Wednesday, October 31st. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. The firm had revenue of $338.08 million for the quarter, compared to analysts’ expectations of $319.60 million. Realty Income had a net margin of 26.19% and a return on equity of 5.17%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 earnings per share. Sell-side analysts forecast that Realty Income Corp will post 3.13 EPS for the current year.
The business also recently disclosed a monthly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Wednesday, January 2nd will be given a dividend of $0.221 per share. The ex-dividend date is Monday, December 31st. This represents a $2.65 annualized dividend and a dividend yield of 4.15%. This is a boost from Realty Income’s previous monthly dividend of $0.22. Realty Income’s dividend payout ratio (DPR) is presently 86.60%.
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 5,600 real estate properties owned under long-term lease agreements with regional and national commercial tenants.
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