Riverhead Capital Management LLC lifted its holdings in Realty Income Corp (NYSE:O) by 64.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,423 shares of the real estate investment trust’s stock after buying an additional 4,100 shares during the quarter. Riverhead Capital Management LLC’s holdings in Realty Income were worth $719,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. RGT Wealth Advisors LLC purchased a new stake in Realty Income during the 2nd quarter valued at about $248,000. Renaissance Technologies LLC grew its holdings in shares of Realty Income by 134.7% during the second quarter. Renaissance Technologies LLC now owns 229,069 shares of the real estate investment trust’s stock valued at $15,799,000 after buying an additional 131,469 shares during the last quarter. First Allied Advisory Services Inc. grew its holdings in shares of Realty Income by 6.1% during the second quarter. First Allied Advisory Services Inc. now owns 63,752 shares of the real estate investment trust’s stock valued at $4,397,000 after buying an additional 3,642 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Realty Income by 6.7% during the second quarter. Bank of New York Mellon Corp now owns 2,633,178 shares of the real estate investment trust’s stock valued at $181,610,000 after acquiring an additional 164,567 shares in the last quarter. Finally, Bahl & Gaynor Inc. increased its position in shares of Realty Income by 4.7% during the second quarter. Bahl & Gaynor Inc. now owns 1,391,265 shares of the real estate investment trust’s stock valued at $95,956,000 after acquiring an additional 62,017 shares in the last quarter. Institutional investors own 70.76% of the company’s stock.
Several brokerages have commented on O. Deutsche Bank started coverage on Realty Income in a research note on Tuesday, August 27th. They set a “hold” rating and a $73.00 target price on the stock. Stifel Nicolaus boosted their price target on Realty Income from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Citigroup set a $74.00 price target on Realty Income and gave the company a “hold” rating in a report on Tuesday, June 11th. Standpoint Research increased their price objective on Realty Income to $83.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Finally, Morgan Stanley increased their price objective on Realty Income from $71.00 to $72.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $72.30.
NYSE:O traded down $0.13 during trading hours on Wednesday, reaching $73.57. The company had a trading volume of 73,896 shares, compared to its average volume of 1,252,419. The firm has a market cap of $23.45 billion, a price-to-earnings ratio of 23.05, a PEG ratio of 5.91 and a beta of 0.08. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.80. The firm’s 50 day moving average price is $72.28 and its 200-day moving average price is $70.98. Realty Income Corp has a 52 week low of $55.55 and a 52 week high of $76.73.
Realty Income (NYSE:O) last released its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.01. Realty Income had a return on equity of 4.79% and a net margin of 27.86%. The firm had revenue of $365.50 million for the quarter, compared to analysts’ expectations of $344.42 million. During the same period in the prior year, the firm earned $0.34 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. On average, analysts forecast that Realty Income Corp will post 3.29 earnings per share for the current fiscal year.
The company also recently announced a aug 19 dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd will be issued a $0.2265 dividend. The ex-dividend date is Friday, August 30th. Realty Income’s dividend payout ratio is 85.27%.
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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