NGAM Advisors L.P. Reduces Stake in Realty Income Corporation (O)

NGAM Advisors L.P. cut its position in Realty Income Corporation (NYSE:O) by 12.3% during the second quarter, Holdings Channel reports. The institutional investor owned 16,504 shares of the real estate investment trust’s stock after selling 2,304 shares during the period. NGAM Advisors L.P.’s holdings in Realty Income Corporation were worth $911,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. increased its position in shares of Realty Income Corporation by 14.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 40,749 shares of the real estate investment trust’s stock valued at $2,249,000 after buying an additional 5,089 shares during the period. Public Employees Retirement Association of Colorado increased its position in shares of Realty Income Corporation by 0.7% in the second quarter. Public Employees Retirement Association of Colorado now owns 56,541 shares of the real estate investment trust’s stock valued at $3,120,000 after buying an additional 414 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Realty Income Corporation by 100.6% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 212,784 shares of the real estate investment trust’s stock valued at $11,741,000 after buying an additional 106,736 shares during the period. Shell Asset Management Co. increased its position in shares of Realty Income Corporation by 4.6% in the second quarter. Shell Asset Management Co. now owns 33,089 shares of the real estate investment trust’s stock valued at $1,826,000 after buying an additional 1,470 shares during the period. Finally, Lederer & Associates Investment Counsel CA increased its position in shares of Realty Income Corporation by 4.9% in the second quarter. Lederer & Associates Investment Counsel CA now owns 4,815 shares of the real estate investment trust’s stock valued at $266,000 after buying an additional 225 shares during the period. 68.67% of the stock is owned by hedge funds and other institutional investors.

Shares of Realty Income Corporation (O) opened at 57.19 on Friday. The company has a market capitalization of $15.67 billion, a PE ratio of 48.92 and a beta of 0.32. The company’s 50 day moving average is $56.52 and its 200-day moving average is $57.87. Realty Income Corporation has a 52 week low of $52.72 and a 52 week 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 EPS for the quarter, hitting the consensus estimate of $0.76. The company had revenue of $300.20 million for the quarter, compared to analysts’ expectations of $289.86 million. Realty Income Corporation had a return on equity of 5.14% and a net margin of 29.19%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.70 earnings per share. On average, analysts expect that Realty Income Corporation will post $1.19 EPS for the current fiscal year.

The firm also recently announced a aug 17 dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.2115 per share. The ex-dividend date of this dividend is Wednesday, August 30th. Realty Income Corporation’s payout ratio is presently 217.09%.

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Several brokerages have recently issued reports on O. Ladenburg Thalmann Financial Services reissued a “hold” rating on shares of Realty Income Corporation in a report on Thursday, July 27th. Canaccord Genuity began coverage on shares of Realty Income Corporation in a report on Tuesday, July 18th. They set a “buy” rating and a $61.00 price target for the company. Morgan Stanley boosted their price target on shares of Realty Income Corporation from $91.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, July 17th. FBR & Co began coverage on shares of Realty Income Corporation in a report on Monday, July 17th. They set a “market perform” rating and a $56.00 price target for the company. Finally, BidaskClub raised shares of Realty Income Corporation from a “sell” rating to a “hold” rating in a report on Sunday, July 16th. Four equities 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 stock has a consensus rating of “Hold” and a consensus price target of $63.68.

In other news, Director Priya Cherian Huskins sold 8,000 shares of the stock in a transaction on Monday, June 19th. The stock was sold at an average price of $56.23, for a total transaction of $449,840.00. Following the sale, the director now owns 20,513 shares in the company, valued at $1,153,445.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.30% of the stock is currently owned by corporate insiders.

About Realty Income Corporation

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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Institutional Ownership by Quarter for Realty Income Corporation (NYSE:O)

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