State Treasurer State of Michigan increased its stake in shares of Realty Income Corporation (NYSE:O) by 0.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 89,724 shares of the real estate investment trust’s stock after buying an additional 700 shares during the period. State Treasurer State of Michigan’s holdings in Realty Income Corporation were worth $4,951,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Koshinski Asset Management Inc. acquired a new stake in Realty Income Corporation during the first quarter valued at approximately $202,000. Gulf International Bank UK Ltd raised its stake in Realty Income Corporation by 1.6% in the first quarter. Gulf International Bank UK Ltd now owns 78,172 shares of the real estate investment trust’s stock valued at $4,653,000 after buying an additional 1,200 shares during the last quarter. Exxonmobil Investment Management Inc. TX raised its stake in Realty Income Corporation by 0.6% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 60,203 shares of the real estate investment trust’s stock valued at $3,584,000 after buying an additional 346 shares during the last quarter. Sheets Smith Wealth Management raised its stake in Realty Income Corporation by 0.3% in the first quarter. Sheets Smith Wealth Management now owns 11,443 shares of the real estate investment trust’s stock valued at $681,000 after buying an additional 30 shares during the last quarter. Finally, Raymond James Trust N.A. raised its stake in Realty Income Corporation by 1.7% in the first quarter. Raymond James Trust N.A. now owns 13,857 shares of the real estate investment trust’s stock valued at $824,000 after buying an additional 234 shares during the last quarter. Institutional investors own 68.67% of the company’s stock.
Shares of Realty Income Corporation (NYSE O) traded down 0.59% on Friday, hitting $56.85. 1,444,570 shares of the stock traded hands. The stock’s 50 day moving average price is $56.55 and its 200 day moving average price is $57.85. Realty Income Corporation has a 52-week low of $52.72 and a 52-week high of $69.40. The stock has a market cap of $15.58 billion, a P/E ratio of 48.63 and a beta of 0.32.
Realty Income Corporation (NYSE:O) last released its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.76. Realty Income Corporation had a net margin of 29.19% and a return on equity of 5.14%. The business had revenue of $300.20 million for the quarter, compared to analysts’ expectations of $289.86 million. During the same period last year, the business earned $0.70 EPS. The company’s revenue was up 10.8% compared to the same quarter last year. On average, equities analysts expect that Realty Income Corporation will post $1.19 EPS for the current fiscal year.
The company also recently declared a aug 17 dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a $0.2115 dividend. This represents a dividend yield of 4.46%. The ex-dividend date is Wednesday, August 30th. Realty Income Corporation’s dividend payout ratio is currently 217.09%.
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Several research firms recently commented on O. Ladenburg Thalmann Financial Services reissued a “hold” rating on shares of Realty Income Corporation in a research note on Thursday, July 27th. Canaccord Genuity began coverage on shares of Realty Income Corporation in a research note on Tuesday, July 18th. They set a “buy” rating and a $61.00 price objective on the stock. Morgan Stanley boosted their price objective on shares of Realty Income Corporation from $91.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, July 17th. FBR & Co began coverage on shares of Realty Income Corporation in a research note on Monday, July 17th. They set a “market perform” rating and a $56.00 price objective on the stock. Finally, BidaskClub raised shares of Realty Income Corporation from a “sell” rating to a “hold” rating in a research note on Sunday, July 16th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $63.68.
In other news, Director Priya Cherian Huskins sold 8,000 shares of the firm’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $56.23, for a total value of $449,840.00. Following the sale, the director now directly owns 20,513 shares in the company, valued at approximately $1,153,445.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.30% of the stock is currently owned by company insiders.
Realty Income Corporation Company Profile
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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