E Fund Management Co. Ltd. purchased a new stake in Realty Income Co. (NYSE:O) during the 1st quarter, Holdings Channel reports. The firm purchased 656 shares of the real estate investment trust’s stock, valued at approximately $42,000.
A number of other hedge funds have also modified their holdings of the business. Norges Bank acquired a new position in shares of Realty Income during the 4th quarter worth about $219,493,000. BlackRock Inc. increased its stake in shares of Realty Income by 6.3% during the 4th quarter. BlackRock Inc. now owns 34,281,689 shares of the real estate investment trust’s stock worth $2,131,293,000 after purchasing an additional 2,031,369 shares during the last quarter. Morgan Stanley increased its stake in shares of Realty Income by 86.4% during the 4th quarter. Morgan Stanley now owns 3,607,707 shares of the real estate investment trust’s stock worth $224,290,000 after purchasing an additional 1,672,570 shares during the last quarter. Resolution Capital Ltd increased its stake in shares of Realty Income by 26.3% during the 4th quarter. Resolution Capital Ltd now owns 4,533,580 shares of the real estate investment trust’s stock worth $281,853,000 after purchasing an additional 944,583 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Realty Income by 21.7% during the 4th quarter. Bank of New York Mellon Corp now owns 4,404,350 shares of the real estate investment trust’s stock worth $273,819,000 after purchasing an additional 785,327 shares during the last quarter. Hedge funds and other institutional investors own 70.30% of the company’s stock.
NYSE O opened at $71.08 on Friday. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.74. The company has a market cap of $26.55 billion, a P/E ratio of 73.28, a P/E/G ratio of 5.09 and a beta of 0.73. Realty Income Co. has a 12-month low of $56.33 and a 12-month high of $71.84. The firm has a 50-day simple moving average of $67.71.
The firm also recently disclosed a may 21 dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Tuesday, June 1st will be issued a $0.235 dividend. This represents a yield of 4.2%. The ex-dividend date is Friday, May 28th. Realty Income’s dividend payout ratio is currently 83.19%.
Several research firms have recently weighed in on O. Morgan Stanley boosted their price objective on shares of Realty Income from $74.00 to $81.00 and gave the stock an “overweight” rating in a research note on Thursday, June 3rd. Mizuho raised shares of Realty Income from a “neutral” rating to a “buy” rating and set a $77.00 target price for the company in a report on Thursday, June 3rd. Finally, BMO Capital Markets downgraded shares of Realty Income from an “outperform” rating to a “market perform” rating in a report on Thursday, May 6th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $71.75.
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 6,500 real estate properties owned under long-term lease agreements with our commercial clients.
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