Point72 Asset Management L.P. boosted its holdings in Realty Income Corp (NYSE:O) by 19.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,763 shares of the real estate investment trust’s stock after acquiring an additional 11,125 shares during the quarter. Point72 Asset Management L.P.’s holdings in Realty Income were worth $5,196,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in O. Nuveen Asset Management LLC lifted its stake in shares of Realty Income by 437.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 4,960,078 shares of the real estate investment trust’s stock worth $342,096,000 after acquiring an additional 4,036,826 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Realty Income by 147.4% during the third quarter. Daiwa Securities Group Inc. now owns 4,892,536 shares of the real estate investment trust’s stock valued at $375,159,000 after acquiring an additional 2,915,287 shares during the period. Vanguard Group Inc. raised its holdings in Realty Income by 4.2% during the second quarter. Vanguard Group Inc. now owns 50,385,673 shares of the real estate investment trust’s stock worth $3,475,100,000 after purchasing an additional 2,012,975 shares in the last quarter. State Street Corp raised its holdings in Realty Income by 3.2% during the third quarter. State Street Corp now owns 23,613,269 shares of the real estate investment trust’s stock worth $1,815,967,000 after purchasing an additional 732,888 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in Realty Income by 26.4% in the second quarter. California Public Employees Retirement System now owns 2,199,550 shares of the real estate investment trust’s stock worth $151,703,000 after purchasing an additional 459,043 shares during the period. 73.97% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director A. Larry Chapman sold 8,000 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $75.09, for a total value of $600,720.00. Following the completion of the sale, the director now directly owns 14,757 shares in the company, valued at $1,108,103.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Paul M. Meurer sold 10,000 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $75.33, for a total transaction of $753,300.00. Following the transaction, the chief financial officer now directly owns 30,468 shares in the company, valued at $2,295,154.44. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.
O has been the topic of several research reports. Deutsche Bank initiated coverage on shares of Realty Income in a research report on Tuesday, August 27th. They issued a “hold” rating and a $73.00 price target on the stock. Zacks Investment Research upgraded shares of Realty Income from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a research report on Tuesday, October 15th. Stifel Nicolaus lifted their price objective on shares of Realty Income from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Morgan Stanley boosted their target price on shares of Realty Income from $72.00 to $75.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 17th. Finally, Royal Bank of Canada set a $75.00 target price on shares of Realty Income and gave the stock a “hold” rating in a report on Friday, October 18th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $80.44.
Shares of O opened at $75.49 on Tuesday. The company has a market capitalization of $24.98 billion, a price-to-earnings ratio of 23.66, a P/E/G ratio of 6.18 and a beta of 0.01. Realty Income Corp has a fifty-two week low of $59.93 and a fifty-two week high of $82.17. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.45 and a quick ratio of 2.45. The business’s 50-day moving average is $78.40 and its 200-day moving average is $73.88.
Realty Income (NYSE:O) last released its earnings results on Monday, November 4th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.51). The company had revenue of $374.20 million during the quarter, compared to analysts’ expectations of $369.86 million. Realty Income had a return on equity of 4.61% and a net margin of 27.30%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.34 EPS. Equities research analysts expect that Realty Income Corp will post 3.28 earnings per share for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a $0.227 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.72 annualized dividend and a dividend yield of 3.61%. Realty Income’s payout ratio is 85.27%.
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.
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