Wellington Management Group LLP cut its holdings in shares of Realty Income Corp (NYSE:O) by 30.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,307 shares of the real estate investment trust’s stock after selling 2,363 shares during the period. Wellington Management Group LLP’s holdings in Realty Income were worth $265,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. SeaBridge Investment Advisors LLC acquired a new position in Realty Income during the 1st quarter valued at about $25,000. Harwood Advisory Group LLC bought a new position in Realty Income during the 1st quarter worth approximately $31,000. Pacitti Group Inc. acquired a new position in Realty Income during the fourth quarter valued at approximately $33,000. Ellevest Inc. increased its stake in Realty Income by 78.5% in the first quarter. Ellevest Inc. now owns 730 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 321 shares in the last quarter. Finally, Cedar Wealth Management LLC boosted its position in shares of Realty Income by 33.3% during the first quarter. Cedar Wealth Management LLC now owns 800 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 73.69% of the company’s stock.
Realty Income stock opened at $59.50 on Wednesday. The stock has a market cap of $20.53 billion, a P/E ratio of 40.75, a P/E/G ratio of 5.39 and a beta of 0.66. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.72. Realty Income Corp has a twelve month low of $38.00 and a twelve month high of $84.92. The company’s 50-day moving average price is $57.29 and its two-hundred day moving average price is $64.63.
Realty Income (NYSE:O) last announced its earnings results on Monday, May 4th. The real estate investment trust reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.39). Realty Income had a return on equity of 4.95% and a net margin of 30.44%. The business had revenue of $414.30 million for the quarter, compared to the consensus estimate of $399.61 million. During the same period in the prior year, the business posted $0.37 earnings per share. The firm’s revenue for the quarter was up 16.9% compared to the same quarter last year. Equities analysts anticipate that Realty Income Corp will post 3.41 earnings per share for the current fiscal year.
The firm also recently disclosed a jul 20 dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be given a dividend of $0.2335 per share. This is an increase from Realty Income’s previous jul 20 dividend of $0.23. This represents a dividend yield of 4.8%. The ex-dividend date of this dividend is Tuesday, June 30th. Realty Income’s dividend payout ratio is currently 84.34%.
Several equities analysts have recently issued reports on the stock. Berenberg Bank assumed coverage on shares of Realty Income in a report on Tuesday. They issued a “buy” rating and a $70.00 price target for the company. Raymond James boosted their price target on shares of Realty Income from $66.00 to $71.00 and gave the company an “outperform” rating in a report on Thursday, June 11th. They noted that the move was a valuation call. Odeon Capital Group started coverage on shares of Realty Income in a report on Wednesday, April 8th. They issued a “buy” rating and a $65.00 price target for the company. Citigroup lowered shares of Realty Income from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $87.00 to $49.00 in a research note on Tuesday, April 7th. Finally, Deutsche Bank raised shares of Realty Income from a “hold” rating to a “buy” rating and reduced their target price for the stock from $78.00 to $66.00 in a research note on Wednesday, March 25th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $72.13.
Realty Income Company Profile
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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