Korea Investment CORP raised its stake in shares of Realty Income Corp (NYSE:O) by 25.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,337 shares of the real estate investment trust’s stock after buying an additional 7,400 shares during the quarter. Korea Investment CORP’s holdings in Realty Income were worth $1,955,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the business. Clarus Wealth Advisors purchased a new position in shares of Realty Income in the second quarter worth $114,000. Perigon Wealth Management LLC raised its stake in shares of Realty Income by 135.7% in the first quarter. Perigon Wealth Management LLC now owns 2,659 shares of the real estate investment trust’s stock worth $138,000 after purchasing an additional 1,531 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of Realty Income in the second quarter worth $179,000. Ken Stern & Associates Inc. purchased a new position in shares of Realty Income in the second quarter worth $200,000. Finally, Checchi Capital Advisers LLC purchased a new position in shares of Realty Income in the second quarter worth $205,000. Institutional investors and hedge funds own 68.19% of the company’s stock.
In other Realty Income news, CFO Paul M. Meurer sold 13,285 shares of the business’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $57.62, for a total transaction of $765,481.70. Following the completion of the sale, the chief financial officer now owns 37,160 shares of the company’s stock, valued at $2,141,159.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Sumit Roy sold 18,682 shares of the business’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $57.49, for a total value of $1,074,028.18. Following the sale, the chief operating officer now directly owns 70,041 shares of the company’s stock, valued at approximately $4,026,657.09. The disclosure for this sale can be found here. Insiders have sold 89,067 shares of company stock valued at $5,142,150 in the last three months. 0.20% of the stock is currently owned by corporate insiders.
Realty Income (NYSE:O) last posted its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.45). Realty Income had a net margin of 25.96% and a return on equity of 5.05%. The firm had revenue of $328.90 million for the quarter, compared to analysts’ expectations of $311.95 million. During the same quarter last year, the company posted $0.76 EPS. The firm’s revenue was up 9.6% compared to the same quarter last year. research analysts anticipate that Realty Income Corp will post 3.18 earnings per share for the current year.
The business also recently declared a sep 18 dividend, which was paid on Friday, September 14th. Shareholders of record on Tuesday, September 4th were issued a dividend of $0.22 per share. This represents a yield of 4.51%. The ex-dividend date of this dividend was Friday, August 31st. Realty Income’s dividend payout ratio is presently 86.27%.
Several research analysts have recently weighed in on the company. Janney Montgomery Scott cut Realty Income from a “buy” rating to a “neutral” rating and set a $44.00 price target for the company. in a research note on Wednesday, August 29th. They noted that the move was a valuation call. 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. Bank of America upped 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. 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. Finally, Zacks Investment Research cut Realty Income from a “hold” rating to a “sell” rating in a research report on Tuesday, July 31st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $58.21.
Realty Income Profile
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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