DNB Asset Management AS reduced its holdings in Realty Income Corp (NYSE:O) by 11.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,019 shares of the real estate investment trust’s stock after selling 4,312 shares during the quarter. DNB Asset Management AS’s holdings in Realty Income were worth $2,355,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of O. Cohen & Steers Inc. increased its holdings in shares of Realty Income by 190.7% during the fourth quarter. Cohen & Steers Inc. now owns 7,378,766 shares of the real estate investment trust’s stock valued at $465,157,000 after acquiring an additional 4,840,630 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Realty Income by 11,967.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,749,745 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 3,718,673 shares in the last quarter. Norges Bank bought a new stake in shares of Realty Income during the fourth quarter valued at approximately $171,132,000. Bank of America Corp DE increased its holdings in shares of Realty Income by 85.5% during the fourth quarter. Bank of America Corp DE now owns 5,672,755 shares of the real estate investment trust’s stock valued at $357,609,000 after acquiring an additional 2,613,842 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Realty Income by 6.1% during the fourth quarter. BlackRock Inc. now owns 35,007,804 shares of the real estate investment trust’s stock valued at $2,206,892,000 after acquiring an additional 2,011,652 shares in the last quarter. Institutional investors and hedge funds own 73.52% of the company’s stock.
Shares of Realty Income stock opened at $69.34 on Wednesday. Realty Income Corp has a 12-month low of $48.80 and a 12-month high of $74.14. The firm has a market cap of $21.69 billion, a P/E ratio of 21.74, a P/E/G ratio of 5.20 and a beta of 0.19. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.80.
The firm also recently disclosed a may 19 dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a $0.226 dividend. The ex-dividend date is Tuesday, April 30th. Realty Income’s dividend payout ratio is currently 84.95%.
Several equities research analysts have recently commented on O shares. Zacks Investment Research upgraded Realty Income from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a report on Thursday, January 3rd. Stifel Nicolaus upped their price target on Realty Income from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Citigroup set a $70.00 price target on Realty Income and gave the stock a “hold” rating in a report on Tuesday, February 26th. Wells Fargo & Co upped their price target on Realty Income from $71.00 to $78.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. They noted that the move was a valuation call. Finally, Capital One Financial downgraded Realty Income from an “equal weight” rating to an “underweight” rating in a report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $61.83.
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 5,700 real estate properties owned under long-term lease agreements with regional and national commercial tenants.
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