Shares of Realty Income Corporation (NYSE:O – Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 4,130,455 shares traded hands during trading, a decline of 32% from the previous session’s volume of 6,056,252 shares.The stock last traded at $62.0210 and had previously closed at $61.89.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on O shares. Royal Bank Of Canada decreased their price target on shares of Realty Income from $71.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, August 7th. Weiss Ratings upgraded shares of Realty Income from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Scotiabank decreased their target price on Realty Income from $72.00 to $67.00 and set a “sector outperform” rating for the company in a research report on Thursday, June 18th. UBS Group set a $67.00 price target on shares of Realty Income in a research report on Thursday, June 18th. Finally, Evercore set a $68.00 target price on Realty Income in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $67.42.
View Our Latest Analysis on Realty Income
Realty Income Trading Up 1.0%
Realty Income Announces Dividend
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 paid a $0.271 dividend. The ex-dividend date is Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%. Realty Income’s dividend payout ratio is presently 237.23%.
Institutional Trading of Realty Income
Several hedge funds and other institutional investors have recently added to or reduced their stakes in O. Brighton Jones LLC increased its position in shares of Realty Income by 11.2% in the fourth quarter. Brighton Jones LLC now owns 6,101 shares of the real estate investment trust’s stock valued at $326,000 after buying an additional 615 shares in the last quarter. Bison Wealth LLC acquired a new stake in Realty Income in the 4th quarter valued at about $571,000. Empowered Funds LLC boosted its holdings in shares of Realty Income by 8.0% during the 1st quarter. Empowered Funds LLC now owns 18,029 shares of the real estate investment trust’s stock worth $1,041,000 after purchasing an additional 1,330 shares during the last quarter. Woodline Partners LP grew its position in shares of Realty Income by 41.3% in the first quarter. Woodline Partners LP now owns 73,942 shares of the real estate investment trust’s stock valued at $4,289,000 after purchasing an additional 21,603 shares in the last quarter. Finally, Intech Investment Management LLC grew its position in shares of Realty Income by 14.9% in the first quarter. Intech Investment Management LLC now owns 25,401 shares of the real estate investment trust’s stock valued at $1,474,000 after purchasing an additional 3,290 shares in the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.
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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