Ameriprise Financial Inc. reduced its stake in shares of Realty Income Corporation (NYSE:O) by 13.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,968,820 shares of the real estate investment trust’s stock after selling 301,261 shares during the quarter. Ameriprise Financial Inc. owned 0.70% of Realty Income worth $113,957,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Realty Income by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 46,814,575 shares of the real estate investment trust’s stock valued at $2,583,229,000 after buying an additional 834,811 shares in the last quarter. BlackRock Inc. raised its stake in shares of Realty Income by 3.9% in the 2nd quarter. BlackRock Inc. now owns 27,144,544 shares of the real estate investment trust’s stock valued at $1,497,836,000 after buying an additional 1,024,539 shares in the last quarter. Northern Trust Corp increased its position in shares of Realty Income by 3.6% during the 2nd quarter. Northern Trust Corp now owns 4,718,094 shares of the real estate investment trust’s stock worth $260,344,000 after purchasing an additional 164,326 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Realty Income by 8.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,345,915 shares of the real estate investment trust’s stock worth $248,543,000 after purchasing an additional 322,239 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Realty Income by 5.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,692,785 shares of the real estate investment trust’s stock worth $203,772,000 after purchasing an additional 176,292 shares in the last quarter. Hedge funds and other institutional investors own 67.54% of the company’s stock.
Realty Income Corporation (O) opened at $56.39 on Friday. The stock has a market cap of $15,889.86, a PE ratio of 18.43, a PEG ratio of 4.62 and a beta of 0.28. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.26 and a quick ratio of 1.26. Realty Income Corporation has a one year low of $52.85 and a one year high of $63.60.
Realty Income (NYSE:O) last released its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. Realty Income had a net margin of 29.37% and a return on equity of 5.11%. The business had revenue of $306.90 million for the quarter, compared to analyst estimates of $292.73 million. During the same quarter last year, the firm earned $0.72 EPS. Realty Income’s quarterly revenue was up 10.8% compared to the same quarter last year. sell-side analysts expect that Realty Income Corporation will post 2.98 earnings per share for the current fiscal year.
The company also recently disclosed a dec 17 dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a dividend of $0.212 per share. This represents a yield of 4.49%. The ex-dividend date of this dividend is Thursday, November 30th. Realty Income’s payout ratio is 208.20%.
In other Realty Income news, CFO Paul M. Meurer sold 5,603 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $54.75, for a total transaction of $306,764.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Joel Tomlinson sold 1,746 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $56.45, for a total transaction of $98,561.70. Following the sale, the senior vice president now owns 14,913 shares in the company, valued at $841,838.85. The disclosure for this sale can be found here. Insiders have sold a total of 10,549 shares of company stock worth $593,646 in the last three months. 0.30% of the stock is owned by insiders.
A number of equities research analysts recently issued reports on O shares. UBS AG upgraded shares of Realty Income from a “sell” rating to a “neutral” rating and increased their target price for the stock from $52.00 to $57.00 in a research report on Friday, September 8th. Vetr raised shares of Realty Income from a “hold” rating to a “buy” rating and set a $58.60 price objective on the stock in a report on Thursday, October 19th. Zacks Investment Research lowered shares of Realty Income from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. FBR & Co set a $56.00 price objective on shares of Realty Income and gave the stock a “hold” rating in a report on Thursday, October 26th. Finally, Ladenburg Thalmann Financial Services reissued a “hold” rating on shares of Realty Income in a report on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Realty Income presently has a consensus rating of “Hold” and a consensus price target of $65.43.
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About Realty Income
Realty Income Corporation is a real estate investment trust (REIT). The Company is engaged in in-house acquisition, portfolio management, asset management, credit research, real estate research, legal, finance and accounting, information technology and capital markets capabilities. As of December 31, 2016, the Company owned a diversified portfolio of 4,944 properties located in 49 states and Puerto Rico, with over 83.0 million square feet of leasable space leased to 248 different commercial tenants doing business in 47 separate industries.
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