Crabel Capital Management LLC bought a new stake in Realty Income Corp (NYSE:O) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 3,069 shares of the real estate investment trust’s stock, valued at approximately $226,000.
Other hedge funds also recently bought and sold shares of the company. Laurel Wealth Advisors LLC bought a new stake in Realty Income in the fourth quarter valued at $25,000. Pearl River Capital LLC acquired a new position in shares of Realty Income during the fourth quarter valued at $26,000. Investors Research Corp acquired a new position in shares of Realty Income during the first quarter valued at $27,000. Cornerstone Advisors Inc. increased its holdings in shares of Realty Income by 245.9% during the first quarter. Cornerstone Advisors Inc. now owns 377 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 268 shares during the period. Finally, Cascade Investment Advisors Inc. increased its holdings in shares of Realty Income by 900.0% during the first quarter. Cascade Investment Advisors Inc. now owns 400 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 360 shares during the period. Institutional investors own 69.28% of the company’s stock.
A number of brokerages have recently commented on O. Citigroup set a $74.00 price target on Realty Income and gave the company a “hold” rating in a report on Tuesday. Stifel Nicolaus raised their price target on Realty Income from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Capital One Financial lowered Realty Income from an “equal weight” rating to an “underweight” rating in a report on Tuesday, March 19th. Wells Fargo & Co raised their price target on Realty Income from $71.00 to $78.00 and gave the company an “outperform” rating in a report on Thursday, March 21st. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered Realty Income from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $61.91.
In related news, Director Ronald Merriman sold 6,000 shares of Realty Income stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $70.72, for a total value of $424,320.00. Following the transaction, the director now owns 18,075 shares of the company’s stock, valued at approximately $1,278,264. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael R. Pfeiffer sold 10,829 shares of Realty Income stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $69.83, for a total value of $756,189.07. Following the completion of the transaction, the executive vice president now directly owns 29,163 shares in the company, valued at approximately $2,036,452.29. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,460 shares of company stock worth $1,366,521. 0.20% of the stock is owned by corporate insiders.
NYSE:O opened at $72.70 on Friday. The stock has a market cap of $23.12 billion, a P/E ratio of 22.69, a PEG ratio of 4.96 and a beta of 0.16. Realty Income Corp has a 52-week low of $52.56 and a 52-week high of $74.14. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.80.
Realty Income (NYSE:O) last released its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.43). The firm had revenue of $354.40 million for the quarter, compared to analyst estimates of $335.37 million. Realty Income had a return on equity of 7.65% and a net margin of 28.70%. Realty Income’s revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.29 earnings per share. Sell-side analysts anticipate that Realty Income Corp will post 3.3 earnings per share for the current fiscal year.
The company also recently announced a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be issued a dividend of $0.227 per share. This is a positive change from Realty Income’s previous monthly dividend of $0.18. This represents a $2.72 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Friday, June 28th. Realty Income’s payout ratio is presently 84.95%.
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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 5,700 real estate properties owned under long-term lease agreements with regional and national commercial tenants.
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