First Manhattan Co. Raises Position in Realty Income Corporation (O)

First Manhattan Co. increased its holdings in Realty Income Corporation (NYSE:O) by 2.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,274 shares of the real estate investment trust’s stock after acquiring an additional 1,013 shares during the quarter. First Manhattan Co.’s holdings in Realty Income Corporation were worth $2,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Xact Kapitalforvaltning AB increased its stake in shares of Realty Income Corporation by 2.2% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 57,704 shares of the real estate investment trust’s stock worth $3,300,000 after acquiring an additional 1,227 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Realty Income Corporation by 23.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 160,139 shares of the real estate investment trust’s stock worth $8,837,000 after acquiring an additional 30,444 shares in the last quarter. Lockheed Martin Investment Management Co. increased its stake in shares of Realty Income Corporation by 167.5% in the 2nd quarter. Lockheed Martin Investment Management Co. now owns 52,700 shares of the real estate investment trust’s stock worth $2,908,000 after acquiring an additional 33,000 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Realty Income Corporation by 3.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,270,081 shares of the real estate investment trust’s stock worth $124,609,000 after acquiring an additional 76,311 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Realty Income Corporation by 92.8% in the 2nd quarter. Principal Financial Group Inc. now owns 790,148 shares of the real estate investment trust’s stock worth $43,600,000 after acquiring an additional 380,379 shares in the last quarter. Institutional investors own 69.04% of the company’s stock.

Several brokerages recently commented on O. Zacks Investment Research downgraded shares of Realty Income Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. UBS AG raised shares of Realty Income Corporation from a “sell” rating to a “neutral” rating and increased their price objective for the company from $52.00 to $57.00 in a research report on Friday, September 8th. Morgan Stanley increased 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 report on Monday, July 17th. Ladenburg Thalmann Financial Services reissued a “hold” rating on shares of Realty Income Corporation in a research report on Wednesday. Finally, Stifel Nicolaus reissued a “buy” rating and set a $65.00 price objective on shares of Realty Income Corporation in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. Realty Income Corporation has a consensus rating of “Hold” and an average price target of $65.43.

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Realty Income Corporation (NYSE:O) last announced its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The business had revenue of $306.90 million during the quarter, compared to the consensus estimate of $292.73 million. Realty Income Corporation had a return on equity of 5.11% and a net margin of 29.37%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 EPS.

The firm also recently announced a nov 17 dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be paid a dividend of $0.212 per share. This represents a dividend yield of 4.49%. The ex-dividend date of this dividend is Tuesday, October 31st. Realty Income Corporation’s payout ratio is 208.20%.

In related news, Director Gregory Mclaughlin sold 3,200 shares of the stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $58.85, for a total value of $188,320.00. Following the completion of the transaction, the director now directly owns 15,986 shares of the company’s stock, valued at approximately $940,776.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.30% of the company’s stock.

Realty Income Corporation 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.

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

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