Westpac Banking Corp Reduces Stake in Realty Income Co. (NYSE:O)

Westpac Banking Corp lowered its position in Realty Income Co. (NYSE:O) by 86.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,931 shares of the real estate investment trust’s stock after selling 51,243 shares during the period. Westpac Banking Corp’s holdings in Realty Income were worth $474,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. DT Investment Partners LLC purchased a new stake in Realty Income in the 1st quarter worth approximately $25,000. Compass Wealth Management LLC purchased a new stake in Realty Income in the 4th quarter worth approximately $25,000. Tucker Asset Management LLC purchased a new stake in Realty Income in the 1st quarter worth approximately $27,000. Cowa LLC boosted its position in Realty Income by 2,024.0% in the 1st quarter. Cowa LLC now owns 612,921 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 584,064 shares in the last quarter. Finally, GoalVest Advisory LLC boosted its position in Realty Income by 220.0% in the 2nd quarter. GoalVest Advisory LLC now owns 480 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 330 shares in the last quarter. Hedge funds and other institutional investors own 78.82% of the company’s stock.

Analyst Upgrades and Downgrades

O has been the topic of a number of recent analyst reports. Scotiabank lowered Realty Income from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the company from $61.00 to $54.00 in a research report on Monday, October 16th. JPMorgan Chase & Co. decreased 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. TheStreet lowered Realty Income from a “b-” rating to a “c+” rating in a research report on Wednesday, August 23rd. Royal Bank of Canada increased their target price on Realty Income from $56.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, November 8th. Finally, Citigroup decreased their target price on Realty Income from $65.00 to $61.50 and set a “neutral” rating on the stock in a research report on Tuesday, August 29th. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Realty Income has an average rating of “Hold” and an average target price of $60.90.

Realty Income Stock Down 0.3 %

Shares of O opened at $52.91 on Friday. Realty Income Co. has a 52-week low of $45.03 and a 52-week high of $68.85. The company has a market capitalization of $38.30 billion, a PE ratio of 40.08, a price-to-earnings-growth ratio of 2.66 and a beta of 0.87. The stock has a fifty day simple moving average of $50.86 and a two-hundred day simple moving average of $56.59. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.64.

Realty Income (NYSE:O) last issued its earnings results on Monday, November 6th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.67). Realty Income had a return on equity of 2.90% and a net margin of 22.64%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $999.01 million. During the same period last year, the business earned $0.98 earnings per share. The firm’s revenue was up 24.1% compared to the same quarter last year. As a group, equities analysts forecast that Realty Income Co. will post 4 EPS for the current year.

Realty Income Announces Dividend

The firm also recently declared a dec 23 dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.256 per share. This represents a dividend yield of 6.1%. The ex-dividend date of this dividend is Thursday, November 30th. Realty Income’s dividend payout ratio is presently 232.58%.

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 13,250 real estate properties primarily owned under long-term net lease agreements with commercial clients.