Covington Capital Management Has $275,000 Stake in Realty Income Co. (NYSE:O)

Covington Capital Management lowered its stake in Realty Income Co. (NYSE:OGet Rating) by 4.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,030 shares of the real estate investment trust’s stock after selling 200 shares during the quarter. Covington Capital Management’s holdings in Realty Income were worth $275,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Castle Financial & Retirement Planning Associates Inc. bought a new position in shares of Realty Income in the fourth quarter worth about $25,000. Hazlett Burt & Watson Inc. bought a new position in Realty Income in the 1st quarter valued at approximately $30,000. Rinkey Investments bought a new position in Realty Income in the 4th quarter valued at approximately $32,000. Riverview Trust Co bought a new position in Realty Income in the 1st quarter valued at approximately $34,000. Finally, Credit Agricole S A bought a new position in Realty Income in the 4th quarter valued at approximately $36,000. Institutional investors own 81.57% of the company’s stock.

Realty Income Stock Performance

NYSE O opened at $64.31 on Monday. The company has a fifty day simple moving average of $70.46 and a 200 day simple moving average of $69.05. Realty Income Co. has a 12-month low of $62.28 and a 12-month high of $75.40. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.60. The company has a market cap of $38.69 billion, a P/E ratio of 60.67, a PEG ratio of 4.17 and a beta of 0.73.

Realty Income Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Monday, October 3rd will be given a $0.248 dividend. This represents a $0.99 annualized dividend and a yield of 1.54%. The ex-dividend date is Friday, September 30th. Realty Income’s payout ratio is currently 280.19%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of Realty Income from $77.00 to $76.00 and set an “overweight” rating for the company in a report on Tuesday, July 12th. Wolfe Research lowered shares of Realty Income from an “outperform” rating to a “market perform” rating and set a $73.00 price objective for the company. in a report on Monday, May 23rd. Raymond James lowered their price target on shares of Realty Income from $82.00 to $78.00 and set an “outperform” rating for the company in a report on Tuesday, September 6th. Credit Suisse Group started coverage on shares of Realty Income in a report on Wednesday, June 22nd. They set an “outperform” rating and a $75.00 price target for the company. Finally, Jefferies Financial Group lowered their price target on shares of Realty Income from $81.00 to $78.00 in a report on Thursday, June 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $76.57.

About Realty Income

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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 6,500 real estate properties owned under long-term lease agreements with our commercial clients.

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

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