Sound Income Strategies LLC grew its position in shares of Realty Income Co. (NYSE:O – Free Report) by 102.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,204 shares of the real estate investment trust’s stock after purchasing an additional 1,118 shares during the quarter. Sound Income Strategies LLC’s holdings in Realty Income were worth $132,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC raised its stake in shares of Realty Income by 100,285.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,624,121 shares of the real estate investment trust’s stock worth $547,028,000 after buying an additional 8,615,530 shares during the period. Norges Bank purchased a new stake in Realty Income in the 4th quarter worth $316,245,000. Resolution Capital Ltd acquired a new position in Realty Income during the fourth quarter worth $278,067,000. Morgan Stanley lifted its holdings in Realty Income by 13.6% during the fourth quarter. Morgan Stanley now owns 18,951,549 shares of the real estate investment trust’s stock valued at $1,202,097,000 after purchasing an additional 2,273,591 shares in the last quarter. Finally, Bank of America Corp DE grew its position in shares of Realty Income by 9.1% in the first quarter. Bank of America Corp DE now owns 25,146,246 shares of the real estate investment trust’s stock valued at $1,592,260,000 after purchasing an additional 2,096,705 shares during the period. 78.82% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on O shares. Royal Bank of Canada reduced their price objective on Realty Income from $68.00 to $67.00 and set an “outperform” rating on the stock in a research report on Friday, August 4th. Robert W. Baird reaffirmed a “neutral” rating and set a $69.00 target price on shares of Realty Income in a research note on Monday, August 28th. Mizuho dropped their price target on shares of Realty Income from $65.00 to $61.00 in a research note on Thursday, August 10th. JPMorgan Chase & Co. reduced their target price on Realty Income from $71.00 to $69.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 30th. Finally, TheStreet downgraded shares of Realty Income from a “b-” rating to a “c+” rating in a research note on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $68.18.
Realty Income Stock Down 1.9 %
O stock opened at $54.10 on Friday. Realty Income Co. has a twelve month low of $53.98 and a twelve month high of $68.85. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.63. The stock has a market cap of $38.35 billion, a P/E ratio of 40.37, a PEG ratio of 2.75 and a beta of 0.79. The company’s 50 day moving average is $58.56 and its two-hundred day moving average is $60.41.
Realty Income Increases Dividend
The firm also recently disclosed a oct 23 dividend, which will be paid on Friday, October 13th. Shareholders of record on Monday, October 2nd will be paid a $0.256 dividend. The ex-dividend date of this dividend is Friday, September 29th. This is a positive change from Realty Income’s previous oct 23 dividend of $0.26. This represents a yield of 5.6%. Realty Income’s payout ratio is currently 229.10%.
About Realty Income
Realty Income, The Monthly Dividend Company, is an S&P 500 company and member of the S&P 500 Dividend Aristocrats index. We invest in people and places to deliver dependable monthly dividends that increase over time. The company is structured as a real estate investment trust ("REIT"), and its monthly dividends are supported by the cash flow from over 13,100 real estate properties primarily owned under long-term net lease agreements with commercial clients.
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