OLD National Bancorp IN lessened its holdings in shares of Realty Income Corporation (NYSE:O) by 7.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,424 shares of the real estate investment trust’s stock after selling 941 shares during the period. OLD National Bancorp IN’s holdings in Realty Income Corporation were worth $653,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Realty Income Corporation by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 46,814,575 shares of the real estate investment trust’s stock valued at $2,583,229,000 after acquiring an additional 834,811 shares in the last quarter. BlackRock Inc. grew its stake in Realty Income Corporation by 3.9% during the 2nd quarter. BlackRock Inc. now owns 27,144,544 shares of the real estate investment trust’s stock valued at $1,497,836,000 after acquiring an additional 1,024,539 shares in the last quarter. Northern Trust Corp grew its stake in Realty Income Corporation by 3.6% during the 2nd quarter. Northern Trust Corp now owns 4,718,094 shares of the real estate investment trust’s stock valued at $260,344,000 after acquiring an additional 164,326 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Realty Income Corporation by 5.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,692,785 shares of the real estate investment trust’s stock valued at $203,772,000 after acquiring an additional 176,292 shares in the last quarter. Finally, PGGM Investments grew its stake in Realty Income Corporation by 2.2% during the 2nd quarter. PGGM Investments now owns 3,049,303 shares of the real estate investment trust’s stock valued at $168,261,000 after acquiring an additional 65,376 shares in the last quarter. 69.04% of the stock is owned by institutional investors.
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Several brokerages recently issued reports on O. UBS AG raised shares of Realty Income Corporation from a “sell” rating to a “neutral” rating and upped their price objective for the company from $52.00 to $57.00 in a research note on Friday, September 8th. Ladenburg Thalmann Financial Services reaffirmed 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 for the company. Morgan Stanley upped their price objective on shares of Realty Income Corporation from $91.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, July 17th. Finally, Vetr raised shares of Realty Income Corporation from a “hold” rating to a “buy” rating and set a $58.60 price objective for the company in a research note on Thursday, October 19th. Two 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’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $65.43.
In other Realty Income Corporation news, Director Gregory Mclaughlin sold 3,200 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $58.85, for a total transaction of $188,320.00. Following the completion of the transaction, the director now directly owns 15,986 shares in the company, valued at approximately $940,776.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.30% of the company’s stock.
Realty Income Corporation (NYSE:O) last posted its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.01. Realty Income Corporation had a net margin of 29.37% and a return on equity of 5.11%. The firm had revenue of $306.90 million during the quarter, compared to the consensus estimate of $292.73 million. During the same period last year, the firm posted $0.72 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis.
The firm also recently announced a nov 17 dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be issued a dividend of $0.212 per share. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a yield of 4.49%. Realty Income Corporation’s dividend payout ratio (DPR) is currently 208.20%.
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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