Daiichi Life Insurance Co. Ltd. bought a new position in Realty Income Corporation (NYSE:O – Free Report) in the second quarter, HoldingsChannel.com reports. The fund bought 13,975 shares of the real estate investment trust’s stock, valued at approximately $866,000.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. acquired a new stake in Realty Income in the 2nd quarter valued at $6,997,219,000. Norges Bank acquired a new position in Realty Income in the fourth quarter valued at about $558,775,000. Bank of New York Mellon Corp acquired a new position in Realty Income in the second quarter valued at about $340,180,000. Deutsche Bank AG bought a new stake in Realty Income during the second quarter worth about $206,299,000. Finally, Morgan Stanley increased its holdings in shares of Realty Income by 21.6% during the fourth quarter. Morgan Stanley now owns 18,291,294 shares of the real estate investment trust’s stock worth $1,031,080,000 after buying an additional 3,252,091 shares in the last quarter. Institutional investors own 70.81% of the company’s stock.
Realty Income Stock Up 0.9%
Shares of Realty Income stock opened at $63.16 on Tuesday. The business has a fifty day simple moving average of $63.20 and a 200 day simple moving average of $63.19. The stock has a market cap of $59.77 billion, a PE ratio of 46.10, a price-to-earnings-growth ratio of 4.44 and a beta of 0.71. The company has a quick ratio of 5.88, a current ratio of 5.88 and a debt-to-equity ratio of 0.73. Realty Income Corporation has a 12 month low of $55.86 and a 12 month high of $67.93.
Realty Income Announces Dividend
The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a dividend of $0.271 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a c) annualized dividend and a yield of 5.1%. Realty Income’s dividend payout ratio (DPR) is presently 237.23%.
Wall Street Analyst Weigh In
Several research firms recently weighed in on O. Barclays dropped their price objective on shares of Realty Income from $68.00 to $67.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 22nd. Robert W. Baird boosted their target price on Realty Income from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, July 6th. Evercore set a $68.00 price target on Realty Income in a report on Friday, August 7th. Huntington began coverage on Realty Income in a research report on Wednesday, July 15th. They issued an “outperform” rating and a $70.00 price objective for the company. Finally, Weiss Ratings raised shares of Realty Income from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $67.42.
View Our Latest Stock Report on O
About Realty Income
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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