Realty Income Corporation (O) Shares Sold by Riverhead Capital Management LLC
Riverhead Capital Management LLC lowered its stake in shares of Realty Income Corporation (NYSE:O) by 48.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,573 shares of the real estate investment trust’s stock after selling 6,181 shares during the period. Riverhead Capital Management LLC’s holdings in Realty Income Corporation were worth $363,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in O. Bronfman E.L. Rothschild L.P. raised its position in Realty Income Corporation by 314.4% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,927 shares of the real estate investment trust’s stock worth $106,000 after acquiring an additional 1,462 shares during the last quarter. Founders Capital Management acquired a new position in Realty Income Corporation during the first quarter worth about $107,000. Harbour Capital Advisors LLC acquired a new position in Realty Income Corporation during the first quarter worth about $119,000. Bessemer Group Inc. raised its position in Realty Income Corporation by 42.1% during the second quarter. Bessemer Group Inc. now owns 2,200 shares of the real estate investment trust’s stock worth $121,000 after acquiring an additional 652 shares during the last quarter. Finally, IHT Wealth Management LLC raised its position in Realty Income Corporation by 6.1% during the first quarter. IHT Wealth Management LLC now owns 2,501 shares of the real estate investment trust’s stock worth $149,000 after acquiring an additional 143 shares during the last quarter. 68.98% of the stock is currently owned by hedge funds and other institutional investors.
Realty Income Corporation (O) opened at 57.57 on Monday. The firm has a market cap of $15.78 billion, a price-to-earnings ratio of 49.25 and a beta of 0.31. Realty Income Corporation has a 52-week low of $52.72 and a 52-week high of $69.14. The stock has a 50 day moving average of $57.88 and a 200-day moving average of $57.43.
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. Realty Income Corporation had a net margin of 29.19% and a return on equity of 5.14%. The company had revenue of $300.20 million during the quarter, compared to analysts’ expectations of $289.86 million. During the same period last year, the company posted $0.70 earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, analysts expect that Realty Income Corporation will post $1.19 EPS for the current year.
The company also recently announced a oct 17 dividend, which will be paid on Friday, October 13th. Shareholders of record on Monday, October 2nd will be issued a $0.212 dividend. This represents a dividend yield of 4.33%. This is a boost from Realty Income Corporation’s previous oct 17 dividend of $0.21. The ex-dividend date is Friday, September 29th. Realty Income Corporation’s dividend payout ratio (DPR) is presently 217.09%.
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 value of $188,320.00. Following the completion of the transaction, the director now directly owns 15,986 shares in the company, valued at $940,776.10. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.30% of the company’s stock.
O has been the subject of a number of research reports. Morgan Stanley lifted 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. UBS AG upgraded shares of Realty Income Corporation from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $52.00 to $57.00 in a research report on Friday, September 8th. Ladenburg Thalmann Financial Services restated a “hold” rating on shares of Realty Income Corporation in a research report on Thursday, July 27th. Zacks Investment Research cut shares of Realty Income Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, June 28th. Finally, Stifel Nicolaus restated a “buy” rating and set a $65.00 target price on shares of Realty Income Corporation in a research report on Friday, July 14th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $64.24.
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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