Raymond James Financial Services Advisors Inc. Cuts Holdings in Realty Income Corporation (O)
Raymond James Financial Services Advisors Inc. lowered its position in shares of Realty Income Corporation (NYSE:O) by 5.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 151,024 shares of the real estate investment trust’s stock after selling 9,115 shares during the quarter. Raymond James Financial Services Advisors Inc. owned about 0.06% of Realty Income Corporation worth $8,637,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Bronfman E.L. Rothschild L.P. raised its position in shares of Realty Income Corporation by 314.4% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,927 shares of the real estate investment trust’s stock worth $106,000 after purchasing an additional 1,462 shares during the period. Bessemer Group Inc. raised its position in shares of Realty Income Corporation by 42.1% during the 2nd quarter. Bessemer Group Inc. now owns 2,200 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 652 shares during the period. Grove Bank & Trust raised its position in shares of Realty Income Corporation by 23.4% during the 2nd quarter. Grove Bank & Trust now owns 2,766 shares of the real estate investment trust’s stock worth $153,000 after purchasing an additional 525 shares during the period. Parallel Advisors LLC raised its position in shares of Realty Income Corporation by 2.9% during the 2nd quarter. Parallel Advisors LLC now owns 3,105 shares of the real estate investment trust’s stock worth $177,000 after purchasing an additional 87 shares during the period. Finally, BB&T Investment Services Inc. acquired a new stake in shares of Realty Income Corporation during the 2nd quarter worth approximately $194,000. Hedge funds and other institutional investors own 67.54% of the company’s stock.
O has been the topic of several analyst reports. UBS AG upgraded Realty Income Corporation from a “sell” rating to a “neutral” rating and raised their target price for the company from $52.00 to $57.00 in a research report on Friday, September 8th. Ladenburg Thalmann Financial Services restated a “hold” rating on shares of Realty Income Corporation in a research report on Thursday, July 27th. FBR & Co set a $56.00 target price on Realty Income Corporation and gave the company a “hold” rating in a research report on Thursday, October 26th. Zacks Investment Research cut Realty Income Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Finally, Capital One Financial Corporation restated an “equal weight” rating on shares of Realty Income Corporation in a research report on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Realty Income Corporation has a consensus rating of “Hold” and an average target price of $65.43.
Shares of Realty Income Corporation (O) opened at $56.48 on Monday. The firm has a market capitalization of $15,915.24, a price-to-earnings ratio of 18.46, a PEG ratio of 4.61 and a beta of 0.28. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.26 and a current 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 earnings results on Wednesday, October 25th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.01. The company 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 company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 earnings per share. research analysts anticipate that Realty Income Corporation will post 3 earnings per share for the current year.
The firm also recently announced a dec 17 dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a $0.212 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a dividend yield of 4.49%. Realty Income Corporation’s payout ratio is currently 208.20%.
In related news, SVP Joel Tomlinson sold 1,746 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $56.45, for a total transaction of $98,561.70. Following the completion of the sale, the senior vice president now directly owns 14,913 shares in the company, valued at $841,838.85. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Paul M. Meurer sold 5,603 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $54.75, for a total value of $306,764.25. The disclosure for this sale can be found here. Insiders sold 10,549 shares of company stock valued at $593,646 in the last 90 days. Corporate insiders own 0.30% of the company’s stock.
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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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