Principal Financial Group Inc. Trims Position in Realty Income Corporation (O)
Principal Financial Group Inc. lessened its position in shares of Realty Income Corporation (NYSE:O) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 781,440 shares of the real estate investment trust’s stock after selling 8,708 shares during the quarter. Principal Financial Group Inc. owned 0.29% of Realty Income Corporation worth $44,691,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Xact Kapitalforvaltning AB increased its position in Realty Income Corporation by 2.2% during the third quarter. Xact Kapitalforvaltning AB now owns 57,704 shares of the real estate investment trust’s stock valued at $3,300,000 after acquiring an additional 1,227 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Realty Income Corporation by 23.5% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 160,139 shares of the real estate investment trust’s stock valued at $8,837,000 after acquiring an additional 30,444 shares during the last quarter. Lockheed Martin Investment Management Co. increased its position in Realty Income Corporation by 167.5% during the second quarter. Lockheed Martin Investment Management Co. now owns 52,700 shares of the real estate investment trust’s stock valued at $2,908,000 after acquiring an additional 33,000 shares during the last quarter. Ameriprise Financial Inc. increased its position in Realty Income Corporation by 3.5% during the second quarter. Ameriprise Financial Inc. now owns 2,270,081 shares of the real estate investment trust’s stock valued at $124,609,000 after acquiring an additional 76,311 shares during the last quarter. Finally, QS Investors LLC increased its position in Realty Income Corporation by 48.0% during the second quarter. QS Investors LLC now owns 22,521 shares of the real estate investment trust’s stock valued at $1,243,000 after acquiring an additional 7,300 shares during the last quarter. Institutional investors own 67.20% of the company’s stock.
Realty Income Corporation (O) opened at $56.47 on Thursday. The firm has a market capitalization of $16,033.59, a PE ratio of 18.59, a PEG ratio of 4.64 and a beta of 0.28. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.26 and a quick ratio of 1.26. Realty Income Corporation has a one year low of $52.85 and a one year high of $63.60.
Realty Income Corporation (NYSE:O) last released its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $306.90 million during the quarter, compared to analyst estimates of $292.73 million. Realty Income Corporation had a return on equity of 5.11% and a net margin of 29.37%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.72 earnings per share. research analysts forecast that Realty Income Corporation will post 3 EPS for the current year.
The firm also recently disclosed a dec 17 dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.212 dividend. This represents a dividend yield of 4.49%. The ex-dividend date is Thursday, November 30th. Realty Income Corporation’s dividend payout ratio (DPR) is 208.20%.
A number of analysts have commented on O shares. Ladenburg Thalmann Financial Services restated a “hold” rating on shares of Realty Income Corporation in a research report on Thursday, July 27th. UBS AG upgraded Realty Income Corporation from a “sell” rating to a “neutral” rating and upped their price target for the stock from $52.00 to $57.00 in a research report on Friday, September 8th. Vetr upgraded Realty Income Corporation from a “hold” rating to a “buy” rating and set a $58.60 price target for the company in a research report on Thursday, October 19th. Zacks Investment Research cut Realty Income Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Finally, FBR & Co set a $56.00 price target on Realty Income Corporation and gave the stock a “hold” rating in a research report on Thursday, October 26th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $65.43.
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In related news, CFO Paul M. Meurer sold 5,603 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $54.75, for a total transaction of $306,764.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Joel Tomlinson sold 1,746 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $56.45, for a total value of $98,561.70. Following the transaction, the senior vice president now directly owns 14,913 shares of the company’s stock, valued at $841,838.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,549 shares of company stock valued at $593,646. Corporate insiders own 0.30% of the company’s stock.
About Realty Income Corporation
Realty Income Corporation is a real estate investment trust (REIT). The Company is engaged in in-house acquisition, portfolio management, asset management, credit research, real estate research, legal, finance and accounting, information technology and capital markets capabilities. As of December 31, 2016, the Company owned a diversified portfolio of 4,944 properties located in 49 states and Puerto Rico, with over 83.0 million square feet of leasable space leased to 248 different commercial tenants doing business in 47 separate industries.
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