Realty Income Corporation (NYSE:O) Stake Boosted by Novare Capital Management LLC
Novare Capital Management LLC raised its position in Realty Income Corporation (NYSE:O) by 15.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,120 shares of the real estate investment trust’s stock after buying an additional 3,850 shares during the period. Novare Capital Management LLC’s holdings in Realty Income Corporation were worth $1,607,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of the company. DnB Asset Management AS increased its stake in shares of Realty Income Corporation by 26.5% in the first quarter. DnB Asset Management AS now owns 27,200 shares of the real estate investment trust’s stock worth $1,619,000 after buying an additional 5,700 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Realty Income Corporation by 16.1% in the first quarter. First Trust Advisors LP now owns 411,419 shares of the real estate investment trust’s stock worth $24,492,000 after buying an additional 57,127 shares during the last quarter. Lockheed Martin Investment Management Co. acquired a new stake in shares of Realty Income Corporation during the first quarter worth $1,173,000. Cibc World Markets Corp increased its stake in shares of Realty Income Corporation by 24.7% in the first quarter. Cibc World Markets Corp now owns 53,331 shares of the real estate investment trust’s stock worth $3,175,000 after buying an additional 10,571 shares during the last quarter. Finally, State of Wisconsin Investment Board increased its stake in shares of Realty Income Corporation by 15.6% in the first quarter. State of Wisconsin Investment Board now owns 260,235 shares of the real estate investment trust’s stock worth $15,492,000 after buying an additional 35,053 shares during the last quarter. Hedge funds and other institutional investors own 69.03% of the company’s stock.
Realty Income Corporation (NYSE O) opened at 57.45 on Friday. The company has a market cap of $15.75 billion, a PE ratio of 49.14 and a beta of 0.32. Realty Income Corporation has a 12 month low of $52.72 and a 12 month high of $70.16. The company has a 50-day moving average of $56.17 and a 200 day moving average of $58.05.
Realty Income Corporation (NYSE:O) last announced its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.76 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.76. The business had revenue of $300.20 million for the quarter, compared to analysts’ expectations of $289.86 million. Realty Income Corporation had a net margin of 29.19% and a return on equity of 5.14%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.70 earnings per share. On average, equities analysts forecast that Realty Income Corporation will post $1.21 earnings per share for the current fiscal year.
The firm also recently disclosed a aug 17 dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st will be issued a $0.2115 dividend. This represents a yield of 4.63%. The ex-dividend date is Friday, July 28th. Realty Income Corporation’s dividend payout ratio (DPR) is presently 217.09%.
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O has been the subject of several research reports. Zacks Investment Research downgraded Realty Income Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, June 28th. BidaskClub upgraded Realty Income Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 17th. Morgan Stanley raised their target price on Realty Income Corporation from $91.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, July 17th. FBR & Co initiated coverage on Realty Income Corporation in a research note on Monday, July 17th. They issued a “market perform” rating and a $56.00 target price for the company. Finally, Canaccord Genuity initiated coverage on Realty Income Corporation in a research note on Tuesday, July 18th. They issued a “buy” rating and a $61.00 target price for the company. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $63.68.
In other Realty Income Corporation news, Director Priya Cherian Huskins sold 8,000 shares of the company’s stock in a transaction dated 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 owns 20,513 shares in the company, valued at $1,153,445.99. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.30% of the stock is currently 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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