Hanson McClain Inc. reduced its stake in Realty Income Corp (NYSE:O) by 2.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,934 shares of the real estate investment trust’s stock after selling 201 shares during the quarter. Hanson McClain Inc.’s holdings in Realty Income were worth $584,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Financial Partners Group Inc increased its position in shares of Realty Income by 21.4% during the 1st quarter. Financial Partners Group Inc now owns 54,962 shares of the real estate investment trust’s stock valued at $4,043,000 after purchasing an additional 9,674 shares during the last quarter. Raymond James & Associates increased its position in shares of Realty Income by 3.1% during the 1st quarter. Raymond James & Associates now owns 856,476 shares of the real estate investment trust’s stock valued at $63,003,000 after purchasing an additional 25,427 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Realty Income by 2.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 163,210 shares of the real estate investment trust’s stock valued at $12,006,000 after purchasing an additional 3,868 shares during the last quarter. Everence Capital Management Inc. purchased a new stake in shares of Realty Income during the 1st quarter valued at $341,000. Finally, CIBC Asset Management Inc increased its position in shares of Realty Income by 64.0% during the 1st quarter. CIBC Asset Management Inc now owns 86,628 shares of the real estate investment trust’s stock valued at $6,371,000 after purchasing an additional 33,802 shares during the last quarter. 73.46% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on the company. Zacks Investment Research downgraded Realty Income from a “buy” rating to a “hold” rating in a research note on Wednesday. Stifel Nicolaus increased their price target on Realty Income from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Capital One Financial upgraded Realty Income from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, May 8th. Wells Fargo & Co increased their price target on Realty Income from $71.00 to $78.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. They noted that the move was a valuation call. Finally, Citigroup set a $70.00 price target on Realty Income and gave the stock a “hold” rating in a research note on Tuesday, February 26th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $61.55.
NYSE O traded up $0.32 during trading hours on Thursday, hitting $69.59. The company had a trading volume of 31,929 shares, compared to its average volume of 2,087,959. Realty Income Corp has a 52 week low of $51.36 and a 52 week high of $74.14. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.80. The company has a market cap of $21.89 billion, a P/E ratio of 21.81, a P/E/G ratio of 5.20 and a beta of 0.16.
Realty Income (NYSE:O) last released its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.43). Realty Income had a net margin of 28.70% and a return on equity of 7.65%. The business had revenue of $354.40 million during the quarter, compared to analysts’ expectations of $335.37 million. During the same period in the previous year, the business earned $0.29 EPS. The business’s revenue was up 11.3% on a year-over-year basis. Equities research analysts anticipate that Realty Income Corp will post 3.3 EPS for the current year.
The firm also recently declared a may 19 dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, June 3rd will be issued a $0.226 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a dividend yield of 3.92%. Realty Income’s payout ratio is currently 84.95%.
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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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