Gamble Jones Investment Counsel lowered its stake in shares of Realty Income Corp (NYSE:O) by 6.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,282 shares of the real estate investment trust’s stock after selling 1,407 shares during the quarter. Gamble Jones Investment Counsel’s holdings in Realty Income were worth $1,479,000 as of its most recent filing with the Securities and Exchange Commission.
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A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Realty Income by 4.2% in the 2nd quarter. Vanguard Group Inc. now owns 50,385,673 shares of the real estate investment trust’s stock valued at $3,475,100,000 after acquiring an additional 2,012,975 shares during the period. Northern Trust Corp grew its position in Realty Income by 5.2% in the 2nd quarter. Northern Trust Corp now owns 5,466,940 shares of the real estate investment trust’s stock valued at $377,055,000 after buying an additional 268,914 shares during the last quarter. Nuveen Asset Management LLC grew its position in Realty Income by 437.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 4,960,078 shares of the real estate investment trust’s stock valued at $342,096,000 after buying an additional 4,036,826 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Realty Income by 147.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 4,892,536 shares of the real estate investment trust’s stock valued at $375,159,000 after buying an additional 2,915,287 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in Realty Income by 0.9% in the 2nd quarter. Wells Fargo & Company MN now owns 2,775,106 shares of the real estate investment trust’s stock valued at $191,399,000 after buying an additional 25,049 shares during the last quarter. 72.23% of the stock is currently owned by institutional investors.
In related news, CFO Paul M. Meurer sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $75.33, for a total transaction of $753,300.00. Following the sale, the chief financial officer now directly owns 30,468 shares of the company’s stock, valued at approximately $2,295,154.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director A. Larry Chapman sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $75.09, for a total value of $600,720.00. Following the sale, the director now directly owns 14,757 shares in the company, valued at $1,108,103.13. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.
Shares of NYSE:O traded up $0.22 during trading on Friday, reaching $77.46. 1,420,821 shares of the stock were exchanged, compared to its average volume of 1,941,333. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.45 and a current ratio of 2.45. Realty Income Corp has a 12-month low of $59.93 and a 12-month high of $82.17. The firm has a market cap of $25.17 billion, a price-to-earnings ratio of 24.28, a price-to-earnings-growth ratio of 6.22 and a beta of 0.04. The firm’s 50-day moving average price is $78.62 and its 200 day moving average price is $73.21.
Realty Income (NYSE:O) last issued its earnings results on Monday, November 4th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.51). Realty Income had a return on equity of 4.61% and a net margin of 27.30%. The firm had revenue of $374.20 million for the quarter, compared to analysts’ expectations of $369.86 million. During the same quarter in the previous year, the firm posted $0.34 EPS. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, equities research analysts forecast that Realty Income Corp will post 3.28 EPS for the current year.
The company also recently declared a nov 19 dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given a dividend of $0.227 per share. The ex-dividend date was Thursday, October 31st. Realty Income’s dividend payout ratio is currently 85.27%.
O has been the topic of a number of analyst reports. ValuEngine lowered shares of Realty Income from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Royal Bank of Canada set a $75.00 target price on shares of Realty Income and gave the stock a “hold” rating in a research report on Friday, October 18th. Wells Fargo & Co set a $82.00 target price on shares of Realty Income and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Zacks Investment Research upgraded shares of Realty Income from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a research report on Tuesday, October 15th. Finally, Standpoint Research boosted their target price on shares of Realty Income to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Realty Income currently has an average rating of “Hold” and a consensus price target of $80.44.
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 5,700 real estate properties owned under long-term lease agreements with regional and national commercial tenants.
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