Independent Advisor Alliance acquired a new stake in Realty Income Corp (NYSE:O) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 18,903 shares of the real estate investment trust’s stock, valued at approximately $1,391,000.
Other institutional investors have also recently made changes to their positions in the company. Laurel Wealth Advisors LLC bought a new position in shares of Realty Income during the fourth quarter valued at approximately $25,000. Pearl River Capital LLC bought a new position in shares of Realty Income during the fourth quarter valued at approximately $26,000. Investors Research Corp bought a new position in shares of Realty Income during the first quarter valued at approximately $27,000. Cornerstone Advisors Inc. grew its holdings in shares of Realty Income by 245.9% during the first quarter. Cornerstone Advisors Inc. now owns 377 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 268 shares during the last quarter. Finally, Cascade Investment Advisors Inc. grew its holdings in shares of Realty Income by 900.0% during the first quarter. Cascade Investment Advisors Inc. now owns 400 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 360 shares during the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE O traded up $0.33 during midday trading on Thursday, hitting $69.60. 36,156 shares of the company’s stock were exchanged, compared to its average volume of 2,087,959. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.80. The company has a market cap of $21.89 billion, a PE ratio of 21.81, a P/E/G ratio of 5.20 and a beta of 0.16. Realty Income Corp has a twelve month low of $51.36 and a twelve month high of $74.14.
Realty Income (NYSE:O) last issued its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.43). The business had revenue of $354.40 million for the quarter, compared to analyst estimates of $335.37 million. Realty Income had a return on equity of 7.65% and a net margin of 28.70%. The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.29 earnings per share. Sell-side analysts forecast that Realty Income Corp will post 3.3 earnings per share for the current fiscal year.
The firm also recently disclosed a may 19 dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.226 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a dividend yield of 3.92%. Realty Income’s dividend payout ratio is presently 84.95%.
Several research firms have recently commented on O. Citigroup set a $70.00 target price on Realty Income and gave the company a “hold” rating in a report on Tuesday, February 26th. Capital One Financial lowered Realty Income from an “equal weight” rating to an “underweight” rating in a report on Tuesday, March 19th. Wells Fargo & Co upped their target price on Realty Income from $71.00 to $78.00 and gave the company an “outperform” rating in a report on Thursday, March 21st. They noted that the move was a valuation call. Zacks Investment Research lowered Realty Income from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Stifel Nicolaus upped their target price on Realty Income from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $61.55.
About Realty Income
Realty Income, The Monthly Dividend Company, is an S&P 500 company dedicated to providing stockholders with dependable monthly income. The company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 5,700 real estate properties owned under long-term lease agreements with regional and national commercial tenants.
Further Reading: How to read a candlestick chart
Want to see what other hedge funds are holding O? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Realty Income Corp (NYSE:O).
Receive News & Ratings for Realty Income Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Realty Income and related companies with MarketBeat.com's FREE daily email newsletter.