Alpha Cubed Investments LLC boosted its position in Realty Income Corporation (NYSE:O) by 18.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,440 shares of the real estate investment trust’s stock after buying an additional 2,900 shares during the period. Alpha Cubed Investments LLC’s holdings in Realty Income Corporation were worth $1,018,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of O. Founders Capital Management bought a new position in shares of Realty Income Corporation during the first quarter worth approximately $107,000. Harbour Capital Advisors LLC bought a new position in shares of Realty Income Corporation during the first quarter worth approximately $119,000. Signature Estate & Investment Advisors LLC bought a new position in shares of Realty Income Corporation during the first quarter worth approximately $144,000. IHT Wealth Management LLC raised its position in shares of Realty Income Corporation by 6.1% in the first quarter. IHT Wealth Management LLC now owns 2,501 shares of the real estate investment trust’s stock worth $149,000 after buying an additional 143 shares during the period. Finally, Pinnacle Bank bought a new position in shares of Realty Income Corporation during the first quarter worth approximately $153,000. 68.74% of the stock is currently owned by institutional investors.
Shares of Realty Income Corporation (NYSE O) traded down 0.95% during midday trading on Friday, reaching $56.48. 1,274,561 shares of the company’s stock traded hands. The stock has a market capitalization of $15.48 billion, a P/E ratio of 48.31 and a beta of 0.32. The firm’s 50-day moving average price is $56.35 and its 200 day moving average price is $57.96. Realty Income Corporation has a 1-year low of $52.72 and a 1-year high of $69.40.
Realty Income Corporation (NYSE:O) last announced its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.76 earnings per share for the quarter, hitting the consensus estimate of $0.76. Realty Income Corporation had a net margin of 29.19% and a return on equity of 5.14%. The firm had revenue of $300.20 million for the quarter, compared to the consensus estimate of $289.86 million. During the same period in the prior year, the firm earned $0.70 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities analysts predict that Realty Income Corporation will post $1.20 earnings per share for the current fiscal year.
The firm also recently announced a aug 17 dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be paid a dividend of $0.2115 per share. This represents a yield of 4.63%. The ex-dividend date of this dividend is Friday, July 28th. Realty Income Corporation’s payout ratio is currently 217.09%.
A number of equities analysts have recently commented on the stock. Ladenburg Thalmann Financial Services reaffirmed a “hold” rating on shares of Realty Income Corporation in a research report on Thursday, July 27th. BidaskClub raised shares of Realty Income Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 17th. Canaccord Genuity assumed coverage on shares of Realty Income Corporation in a research report on Tuesday, July 18th. They set a “buy” rating and a $61.00 target price on the stock. Morgan Stanley raised their target price on shares of Realty Income Corporation from $91.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, July 17th. Finally, FBR & Co started 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. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $63.68.
In other Realty Income Corporation news, Director Priya Cherian Huskins sold 8,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,153,445.99. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.30% of the stock is owned by corporate 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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