Greenwood Capital Associates LLC purchased a new position in shares of Realty Income Corporation (NYSE:O – Free Report) during the 1st quarter, Holdings Channel reports. The institutional investor purchased 15,254 shares of the real estate investment trust’s stock, valued at approximately $933,000.
A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Realty Income by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 150,415,287 shares of the real estate investment trust’s stock valued at $8,478,910,000 after purchasing an additional 684,949 shares in the last quarter. Pensionfund PDN purchased a new stake in Realty Income in the fourth quarter worth about $7,434,000. LDR Capital Management LLC increased its position in Realty Income by 117.6% in the fourth quarter. LDR Capital Management LLC now owns 29,285 shares of the real estate investment trust’s stock worth $1,651,000 after buying an additional 15,825 shares in the last quarter. Danske Bank A S increased its position in Realty Income by 20.3% in the fourth quarter. Danske Bank A S now owns 568,121 shares of the real estate investment trust’s stock worth $32,025,000 after buying an additional 95,773 shares in the last quarter. Finally, Sound Income Strategies LLC raised its stake in shares of Realty Income by 8.2% in the fourth quarter. Sound Income Strategies LLC now owns 352,918 shares of the real estate investment trust’s stock worth $21,676,000 after buying an additional 26,890 shares during the period. Institutional investors own 70.81% of the company’s stock.
Realty Income Stock Performance
NYSE:O opened at $63.15 on Friday. The stock has a 50-day moving average price of $61.99 and a 200 day moving average price of $62.12. The stock has a market capitalization of $58.89 billion, a P/E ratio of 51.76, a P/E/G ratio of 4.93 and a beta of 0.72. Realty Income Corporation has a 12-month low of $55.86 and a 12-month high of $67.93. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.72.
Realty Income Dividend Announcement
The business also recently announced a monthly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be issued a $0.271 dividend. This represents a c) annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend is Friday, July 31st. Realty Income’s payout ratio is 266.39%.
Trending Headlines about Realty Income
Here are the key news stories impacting Realty Income this week:
- Positive Sentiment: Realty Income announced another monthly dividend, extending its streak to 673 consecutive payouts and reinforcing its reputation as a dependable income stock. The new dividend supports a roughly 5.1% annualized yield, which should appeal to dividend-focused investors.
- Positive Sentiment: An analyst reportedly raised the price target on Realty Income and reiterated a Buy rating, suggesting confidence in the company’s earnings power and portfolio quality.
- Positive Sentiment: Coverage highlighting the company’s evolving portfolio argues that Realty Income’s valuation may not yet reflect its improving asset mix and long-term growth potential.
- Neutral Sentiment: Realty Income is drawing additional investor attention, while broader articles about high-dividend real estate ETFs and monthly-income portfolios may be helping keep the REIT sector in focus rather than driving a company-specific move.
- Negative Sentiment: The stock has also been weighed by a recent pullback versus the broader market, with traders showing some caution after the shares slipped in the latest session.
Analysts Set New Price Targets
A number of research firms have recently weighed in on O. Jefferies Financial Group initiated coverage on Realty Income in a research report on Monday, June 1st. They set a “buy” rating and a $69.00 price objective on the stock. Morgan Stanley set a $67.00 target price on shares of Realty Income in a report on Monday, April 27th. Mizuho decreased their target price on shares of Realty Income from $68.00 to $66.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Robert W. Baird lifted their price target on shares of Realty Income from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Monday. Finally, Royal Bank Of Canada upped their price target on shares of Realty Income from $70.00 to $71.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $66.65.
Read Our Latest Stock Report on O
Realty Income Company Profile
Realty Income Corporation (NYSE: O) is a real estate investment trust (REIT) that acquires, owns and manages commercial properties subject primarily to long-term net lease agreements. The company’s business model focuses on generating predictable, contractual rental income by leasing properties to tenants under agreements that typically place responsibility for taxes, insurance and maintenance on the tenant. Realty Income is publicly traded on the New York Stock Exchange and markets itself as a reliable income-oriented REIT.
Realty Income’s portfolio is concentrated in single-tenant, retail and service-oriented properties such as drugstores, convenience stores, dollar and discount retailers, restaurants, and other essential-service businesses.
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