tru Independence LLC Takes $58,000 Position in Realty Income Co. (NYSE:O)

tru Independence LLC acquired a new stake in Realty Income Co. (NYSE:O) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 942 shares of the real estate investment trust’s stock, valued at approximately $58,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of O. Norges Bank purchased a new position in Realty Income in the fourth quarter valued at $219,493,000. BlackRock Inc. boosted its holdings in Realty Income by 6.3% in the fourth quarter. BlackRock Inc. now owns 34,281,689 shares of the real estate investment trust’s stock valued at $2,131,293,000 after purchasing an additional 2,031,369 shares during the period. Morgan Stanley boosted its holdings in Realty Income by 86.4% in the fourth quarter. Morgan Stanley now owns 3,607,707 shares of the real estate investment trust’s stock valued at $224,290,000 after purchasing an additional 1,672,570 shares during the period. Resolution Capital Ltd boosted its holdings in Realty Income by 26.3% in the fourth quarter. Resolution Capital Ltd now owns 4,533,580 shares of the real estate investment trust’s stock valued at $281,853,000 after purchasing an additional 944,583 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Realty Income by 21.7% in the fourth quarter. Bank of New York Mellon Corp now owns 4,404,350 shares of the real estate investment trust’s stock valued at $273,819,000 after purchasing an additional 785,327 shares during the period. 73.10% of the stock is owned by institutional investors and hedge funds.

Shares of O stock opened at $65.55 on Thursday. The stock has a market capitalization of $24.48 billion, a PE ratio of 54.17, a price-to-earnings-growth ratio of 4.80 and a beta of 0.64. Realty Income Co. has a 52-week low of $47.68 and a 52-week high of $66.80. The stock’s 50-day moving average price is $62.38 and its 200 day moving average price is $61.12. The company has a quick ratio of 4.77, a current ratio of 4.77 and a debt-to-equity ratio of 0.80.

Realty Income (NYSE:O) last issued its quarterly earnings results on Sunday, February 21st. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.50). The company had revenue of $418.10 million during the quarter, compared to analyst estimates of $398.27 million. Realty Income had a net margin of 24.94% and a return on equity of 3.96%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 EPS. Analysts expect that Realty Income Co. will post 3.4 earnings per share for the current fiscal year.

The business also recently declared a monthly dividend, which will be paid on Thursday, April 15th. Investors of record on Thursday, April 1st will be given a $0.235 dividend. This represents a $2.82 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend is Wednesday, March 31st. This is a boost from Realty Income’s previous monthly dividend of $0.23. Realty Income’s payout ratio is 84.94%.

A number of brokerages have issued reports on O. Mizuho reaffirmed a “neutral” rating and set a $62.00 price target on shares of Realty Income in a report on Wednesday, March 10th. The Goldman Sachs Group began coverage on Realty Income in a report on Friday, January 22nd. They set a “conviction-buy” rating for the company. Robert W. Baird began coverage on Realty Income in a report on Wednesday, December 16th. They set a “neutral” rating for the company. Finally, Morgan Stanley lifted their price target on Realty Income from $64.00 to $67.00 and gave the stock an “overweight” rating in a report on Tuesday, December 15th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $67.80.

Realty Income Profile

Realty Income, The Monthly Dividend Company<sup>®</sup>, 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 6,500 real estate properties owned under long-term lease agreements with commercial tenants.

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

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