Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Realty Income Co. (NYSE:O – Get Rating) by 5.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 607,424 shares of the real estate investment trust’s stock after purchasing an additional 33,626 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned approximately 0.10% of Realty Income worth $42,094,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Realty Income by 51.4% in the fourth quarter. BlackRock Inc. now owns 55,379,435 shares of the real estate investment trust’s stock worth $3,964,611,000 after buying an additional 18,809,122 shares during the period. State Street Corp grew its stake in shares of Realty Income by 44.3% in the fourth quarter. State Street Corp now owns 41,784,931 shares of the real estate investment trust’s stock worth $3,001,512,000 after purchasing an additional 12,823,641 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Realty Income by 951.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 7,222,405 shares of the real estate investment trust’s stock worth $517,052,000 after purchasing an additional 6,535,728 shares during the last quarter. Norges Bank purchased a new position in shares of Realty Income during the fourth quarter valued at approximately $376,586,000. Finally, Geode Capital Management LLC increased its position in Realty Income by 51.6% during the 4th quarter. Geode Capital Management LLC now owns 12,664,560 shares of the real estate investment trust’s stock valued at $904,757,000 after purchasing an additional 4,310,531 shares during the period. Institutional investors own 76.46% of the company’s stock.
Analysts Set New Price Targets
O has been the subject of several research reports. TheStreet raised Realty Income from a “c+” rating to a “b” rating in a research report on Wednesday, May 4th. Morgan Stanley decreased their price objective on Realty Income from $77.00 to $76.00 and set an “overweight” rating for the company in a report on Tuesday, July 12th. Raymond James upped their target price on shares of Realty Income from $76.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, July 8th. Wolfe Research cut shares of Realty Income from an “outperform” rating to a “market perform” rating and set a $73.00 price target for the company. in a research report on Monday, May 23rd. Finally, Jefferies Financial Group dropped their price objective on shares of Realty Income from $81.00 to $78.00 in a research note on Thursday, June 30th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $77.14.
Realty Income Stock Performance
Realty Income (NYSE:O – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The real estate investment trust reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.63). Realty Income had a net margin of 20.10% and a return on equity of 2.37%. The firm had revenue of $807.30 million for the quarter, compared to analysts’ expectations of $748.69 million. During the same quarter in the previous year, the company earned $0.86 EPS. The company’s quarterly revenue was up 82.3% compared to the same quarter last year. Sell-side analysts expect that Realty Income Co. will post 3.9 EPS for the current fiscal year.
Realty Income Announces Dividend
The firm also recently announced a aug 22 dividend, which will be paid on Monday, August 15th. Shareholders of record on Monday, August 1st will be issued a $0.2475 dividend. The ex-dividend date of this dividend is Friday, July 29th. Realty Income’s payout ratio is 280.19%.
Realty Income Company 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 6,500 real estate properties owned under long-term lease agreements with our commercial clients.
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