Cibc World Markets Corp grew its stake in shares of Realty Income Co. (NYSE:O) by 377.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 169,863 shares of the real estate investment trust’s stock after buying an additional 134,264 shares during the quarter. Cibc World Markets Corp’s holdings in Realty Income were worth $11,337,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in O. The Manufacturers Life Insurance Company grew its holdings in Realty Income by 7.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 365,703 shares of the real estate investment trust’s stock worth $23,222,000 after acquiring an additional 26,314 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Realty Income by 1.0% in the first quarter. Victory Capital Management Inc. now owns 378,673 shares of the real estate investment trust’s stock valued at $24,045,000 after purchasing an additional 3,867 shares during the period. Natixis Advisors L.P. raised its position in Realty Income by 22.9% during the 1st quarter. Natixis Advisors L.P. now owns 42,002 shares of the real estate investment trust’s stock worth $2,667,000 after purchasing an additional 7,818 shares during the last quarter. IFM Investors Pty Ltd raised its position in Realty Income by 19.9% during the 1st quarter. IFM Investors Pty Ltd now owns 38,556 shares of the real estate investment trust’s stock worth $2,448,000 after purchasing an additional 6,411 shares during the last quarter. Finally, Ausdal Financial Partners Inc. lifted its holdings in Realty Income by 11.7% during the 1st quarter. Ausdal Financial Partners Inc. now owns 6,277 shares of the real estate investment trust’s stock worth $399,000 after buying an additional 656 shares during the period. Institutional investors own 70.40% of the company’s stock.
Several brokerages have commented on O. Wolfe Research began coverage on Realty Income in a report on Monday, June 14th. They set a “peer perform” rating and a $79.00 target price on the stock. Raymond James boosted their price objective on Realty Income from $71.00 to $76.00 and gave the company an “outperform” rating in a research note on Thursday, June 17th. Robert W. Baird reissued a “hold” rating on shares of Realty Income in a research note on Tuesday, August 17th. Morgan Stanley boosted their price objective on Realty Income from $74.00 to $81.00 and gave the company an “overweight” rating in a research note on Thursday, June 3rd. Finally, Mizuho boosted their price objective on Realty Income from $77.00 to $81.00 and gave the company a “buy” rating in a research note on Tuesday, August 24th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $76.83.
Realty Income (NYSE:O) last issued its quarterly earnings data on Sunday, August 1st. The real estate investment trust reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.04). The company had revenue of $464.30 million for the quarter, compared to the consensus estimate of $430.93 million. Realty Income had a return on equity of 3.21% and a net margin of 20.89%. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.31 earnings per share. On average, equities analysts forecast that Realty Income Co. will post 3.57 earnings per share for the current year.
The firm also recently announced a sep 21 dividend, which will be paid on Wednesday, September 15th. Stockholders of record on Wednesday, September 1st will be issued a $0.2355 dividend. This represents a dividend yield of 4%. The ex-dividend date is Tuesday, August 31st. Realty Income’s dividend payout ratio is presently 83.48%.
Realty Income Profile
Realty Income Corp. is a real estate company, which engages in generating dependable monthly cash dividends from a consistent and predictable level of cash flow from operations. The company was founded by William E. Clark, Jr. and Evelyn Joan Clark in 1969 and is headquartered in San Diego, CA.
Further Reading: What can cause a stock to outperform?
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