Successful Portfolios LLC Invests $279,000 in Realty Income Corp (NYSE:O)

Successful Portfolios LLC purchased a new position in shares of Realty Income Corp (NYSE:O) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,642 shares of the real estate investment trust’s stock, valued at approximately $279,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Realty Income by 4.2% during the 2nd quarter. Vanguard Group Inc. now owns 50,385,673 shares of the real estate investment trust’s stock worth $3,475,100,000 after purchasing an additional 2,012,975 shares during the last quarter. Northern Trust Corp lifted its position in shares of Realty Income by 5.2% during the 2nd quarter. Northern Trust Corp now owns 5,466,940 shares of the real estate investment trust’s stock worth $377,055,000 after purchasing an additional 268,914 shares during the last quarter. Nuveen Asset Management LLC lifted its position in shares of Realty Income by 437.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,960,078 shares of the real estate investment trust’s stock worth $342,096,000 after purchasing an additional 4,036,826 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Realty Income by 0.9% during the 2nd quarter. Wells Fargo & Company MN now owns 2,775,106 shares of the real estate investment trust’s stock worth $191,399,000 after purchasing an additional 25,049 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Realty Income by 6.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,633,178 shares of the real estate investment trust’s stock worth $181,610,000 after purchasing an additional 164,567 shares during the last quarter. Institutional investors own 70.80% of the company’s stock.

In other Realty Income news, CFO Paul M. Meurer sold 10,000 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $75.33, for a total value of $753,300.00. Following the transaction, the chief financial officer now directly owns 30,468 shares in the company, valued at approximately $2,295,154.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director A. Larry Chapman sold 8,000 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $75.09, for a total value of $600,720.00. Following the completion of the transaction, the director now owns 14,757 shares in the company, valued at $1,108,103.13. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Shares of O traded down $0.84 during mid-day trading on Friday, reaching $77.89. The company had a trading volume of 1,288,863 shares, compared to its average volume of 1,668,041. The company has a market capitalization of $24.80 billion, a P/E ratio of 24.42, a P/E/G ratio of 6.11 and a beta of 0.06. Realty Income Corp has a twelve month low of $55.55 and a twelve month high of $78.97. The company’s 50-day moving average is $75.36 and its 200-day moving average is $71.86. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.23 and a quick ratio of 1.23.

Realty Income (NYSE:O) last released its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.01. The business had revenue of $365.50 million for the quarter, compared to analyst estimates of $344.42 million. Realty Income had a return on equity of 4.79% and a net margin of 27.86%. Realty Income’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.34 EPS. As a group, equities analysts expect that Realty Income Corp will post 3.29 EPS for the current fiscal year.

The company also recently disclosed a sep 19 dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a $0.227 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a yield of 3.6%. Realty Income’s payout ratio is 85.27%.

Several equities analysts recently weighed in on the company. Jefferies Financial Group started coverage on Realty Income in a research report on Thursday. They set a “buy” rating and a $99.00 price objective for the company. Stifel Nicolaus upped their price target on Realty Income from $75.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Standpoint Research upped their price target on Realty Income to $83.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Morgan Stanley upped their price target on Realty Income from $72.00 to $75.00 and gave the company an “equal weight” rating in a report on Tuesday, September 17th. Finally, ValuEngine cut Realty Income from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $76.70.

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 5,700 real estate properties owned under long-term lease agreements with regional and national commercial tenants.

Further Reading: Price to Earnings Ratio (PE)

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Institutional Ownership by Quarter for Realty Income (NYSE:O)

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