NewEdge Wealth LLC acquired a new stake in shares of Realty Income Corporation (NYSE:O – Free Report) during the second quarter, Holdings Channel reports. The firm acquired 17,563 shares of the real estate investment trust’s stock, valued at approximately $1,088,000.
Several other large investors also recently modified their holdings of O. Vanguard Group Inc. raised its holdings in shares of Realty Income by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 150,415,287 shares of the real estate investment trust’s stock worth $8,478,910,000 after buying an additional 684,949 shares in the last quarter. BlackRock Inc. acquired a new stake in Realty Income in the 2nd quarter valued at $6,997,219,000. State Street Corp boosted its stake in Realty Income by 0.8% in the 4th quarter. State Street Corp now owns 63,559,987 shares of the real estate investment trust’s stock valued at $3,599,676,000 after buying an additional 531,095 shares in the last quarter. Geode Capital Management LLC grew its position in Realty Income by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 29,206,196 shares of the real estate investment trust’s stock valued at $1,655,991,000 after acquiring an additional 793,100 shares during the period. Finally, Morgan Stanley grew its position in Realty Income by 21.6% in the fourth quarter. Morgan Stanley now owns 18,291,294 shares of the real estate investment trust’s stock valued at $1,031,080,000 after acquiring an additional 3,252,091 shares during the period. 70.81% of the stock is currently owned by institutional investors.
Realty Income Trading Down 0.9%
O stock opened at $62.61 on Friday. The business has a fifty day moving average price of $63.18 and a 200 day moving average price of $63.16. The company has a debt-to-equity ratio of 0.73, a current ratio of 5.88 and a quick ratio of 5.88. Realty Income Corporation has a fifty-two week low of $55.86 and a fifty-two week high of $67.93. The stock has a market capitalization of $59.24 billion, a price-to-earnings ratio of 45.70, a P/E/G ratio of 4.48 and a beta of 0.71.
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 issued a $0.271 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Monday, August 31st. Realty Income’s payout ratio is currently 237.23%.
Wall Street Analysts Forecast Growth
O has been the subject of a number of analyst reports. Evercore set a $68.00 price objective on Realty Income in a report on Friday, August 7th. Royal Bank Of Canada dropped their target price on shares of Realty Income from $71.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, August 7th. Mizuho cut their price target on shares of Realty Income from $68.00 to $66.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Morgan Stanley set a $67.00 price target on shares of Realty Income in a report on Monday, April 27th. Finally, Freedom Capital upgraded shares of Realty Income from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued 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 has a consensus rating of “Moderate Buy” and an average target price of $67.42.
View Our Latest Research Report on Realty Income
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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