PNC Financial Services Group Inc. reduced its holdings in Realty Income Corp (NYSE:O) by 8.1% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,544 shares of the real estate investment trust’s stock after selling 3,563 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Realty Income were worth $2,179,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Summit Trail Advisors LLC increased its position in shares of Realty Income by 3,303.4% during the 1st quarter. Summit Trail Advisors LLC now owns 106,458 shares of the real estate investment trust’s stock valued at $106,000 after purchasing an additional 103,330 shares during the last quarter. Clarus Wealth Advisors bought a new position in shares of Realty Income during the 2nd quarter valued at about $114,000. Perigon Wealth Management LLC increased its position in shares of Realty Income by 135.7% during the 1st quarter. Perigon Wealth Management LLC now owns 2,659 shares of the real estate investment trust’s stock valued at $138,000 after purchasing an additional 1,531 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of Realty Income during the 2nd quarter valued at about $179,000. Finally, Ken Stern & Associates Inc. bought a new position in shares of Realty Income during the 2nd quarter valued at about $200,000. Institutional investors and hedge funds own 68.19% of the company’s stock.

In related news, COO Sumit Roy sold 18,682 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $57.49, for a total transaction of $1,074,028.18. Following the transaction, the chief operating officer now directly owns 70,041 shares in the company, valued at approximately $4,026,657.09. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director A. Larry Chapman sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $58.56, for a total value of $527,040.00. Following the transaction, the director now owns 18,757 shares in the company, valued at $1,098,409.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,067 shares of company stock worth $5,142,150. 0.20% of the stock is owned by corporate insiders.

O opened at $57.66 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.28 and a current ratio of 1.28. Realty Income Corp has a 1 year low of $47.25 and a 1 year high of $59.99. The company has a market cap of $16.85 billion, a P/E ratio of 18.63, a P/E/G ratio of 4.12 and a beta of 0.10.

Realty Income (NYSE:O) last posted its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.45). Realty Income had a return on equity of 5.05% and a net margin of 25.96%. The company had revenue of $328.90 million for the quarter, compared to the consensus estimate of $311.95 million. During the same quarter in the previous year, the business earned $0.76 earnings per share. Realty Income’s revenue was up 9.6% compared to the same quarter last year. research analysts forecast that Realty Income Corp will post 3.18 earnings per share for the current fiscal year.

The business also recently declared a sep 18 dividend, which was paid on Friday, September 14th. Investors of record on Tuesday, September 4th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, August 31st. This represents a yield of 4.51%. Realty Income’s payout ratio is 86.27%.

Several equities analysts have recently commented on O shares. Wells Fargo & Co set a $65.00 price objective on Realty Income and gave the company a “buy” rating in a research report on Tuesday, September 4th. ValuEngine upgraded Realty Income from a “sell” rating to a “hold” rating in a research report on Wednesday, June 27th. Mizuho set a $58.00 price objective on Realty Income and gave the company a “hold” rating in a research report on Monday, August 13th. Janney Montgomery Scott lowered Realty Income from a “buy” rating to a “neutral” rating and set a $44.00 price objective on the stock. in a research report on Wednesday, August 29th. They noted that the move was a valuation call. Finally, Bank of America increased their price objective on Realty Income from $53.50 to $57.50 and gave the company a “neutral” rating in a research report on Monday, August 13th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. Realty Income currently has an average rating of “Hold” and an average target price of $58.21.

About Realty Income

Realty Income, The Monthly Dividend Company is an S&P 500 company dedicated to providing stockholders with dependable monthly income. The company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 5,400 real estate properties owned under long-term lease agreements with regional and national commercial tenants.

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

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