Legal & General Group Plc purchased a new position in Realty Income Corporation (NYSE:O – Free Report) during the second quarter, HoldingsChannel.com reports. The fund purchased 10,383,053 shares of the real estate investment trust’s stock, valued at approximately $643,334,000.
Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of 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 acquiring an additional 684,949 shares in the last quarter. Danske Bank A S boosted its holdings 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 valued at $32,025,000 after acquiring an additional 95,773 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Realty Income by 0.7% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,323,920 shares of the real estate investment trust’s stock valued at $130,999,000 after acquiring an additional 16,546 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Realty Income by 5.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,730,032 shares of the real estate investment trust’s stock valued at $156,458,000 after acquiring an additional 140,685 shares in the last quarter. Finally, 1834 Investment Advisors Co. increased its position in Realty Income by 86.7% during the 4th quarter. 1834 Investment Advisors Co. now owns 39,734 shares of the real estate investment trust’s stock valued at $2,240,000 after purchasing an additional 18,455 shares during the period. Hedge funds and other institutional investors own 70.81% of the company’s stock.
Realty Income Price Performance
Shares of O stock opened at $63.16 on Tuesday. The business’s fifty day moving average is $63.20 and its 200 day moving average is $63.19. The company has a quick ratio of 5.88, a current ratio of 5.88 and a debt-to-equity ratio of 0.73. The stock has a market cap of $59.77 billion, a price-to-earnings ratio of 46.10, a PEG ratio of 4.44 and a beta of 0.71. Realty Income Corporation has a twelve month low of $55.86 and a twelve month high of $67.93.
Realty Income Announces Dividend
The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a $0.271 dividend. This represents a c) annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Monday, August 31st. Realty Income’s dividend payout ratio (DPR) is presently 237.23%.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. Scotiabank decreased their price objective on shares of Realty Income from $72.00 to $67.00 and set a “sector outperform” rating for the company in a report on Thursday, June 18th. Stifel Nicolaus set a $70.75 target price on shares of Realty Income in a research note on Tuesday, June 30th. Robert W. Baird boosted their price target on shares of Realty Income from $64.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, July 6th. Mizuho decreased their price target on shares of Realty Income from $68.00 to $66.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Finally, Wells Fargo & Company raised their price objective on shares of Realty Income from $64.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $67.42.
View Our Latest Research Report on Realty Income
Realty Income 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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