Edgemoor Investment Advisors Inc. Boosts Stake in Realty Income Corporation $O

Edgemoor Investment Advisors Inc. raised its position in shares of Realty Income Corporation (NYSE:O) by 7.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 193,718 shares of the real estate investment trust’s stock after purchasing an additional 12,722 shares during the quarter. Realty Income comprises about 0.9% of Edgemoor Investment Advisors Inc.’s investment portfolio, making the stock its 29th biggest holding. Edgemoor Investment Advisors Inc.’s holdings in Realty Income were worth $11,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in O. Heartwood Wealth Advisors LLC purchased a new position in shares of Realty Income in the third quarter valued at $29,000. Strengthening Families & Communities LLC raised its stake in Realty Income by 586.1% during the third quarter. Strengthening Families & Communities LLC now owns 494 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 422 shares in the last quarter. Avion Wealth lifted its position in Realty Income by 142.4% during the second quarter. Avion Wealth now owns 526 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 309 shares during the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Realty Income in the 2nd quarter worth $31,000. Finally, Country Trust Bank increased its holdings in shares of Realty Income by 806.5% in the 2nd quarter. Country Trust Bank now owns 562 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 500 shares during the last quarter. Institutional investors own 70.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on O. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $61.00 price target on shares of Realty Income in a report on Thursday, December 18th. Deutsche Bank Aktiengesellschaft raised Realty Income from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research note on Tuesday, January 20th. Morgan Stanley boosted their target price on Realty Income from $62.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 24th. Royal Bank Of Canada increased their price target on Realty Income from $60.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Finally, Cantor Fitzgerald dropped their price objective on shares of Realty Income from $64.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Five equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $63.21.

Realty Income Price Performance

Shares of O stock opened at $63.10 on Tuesday. The stock has a 50 day moving average price of $58.90 and a 200 day moving average price of $58.59. Realty Income Corporation has a 52-week low of $50.71 and a 52-week high of $63.90. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.53 and a current ratio of 1.53. The firm has a market capitalization of $58.05 billion, a P/E ratio of 58.43, a P/E/G ratio of 3.74 and a beta of 0.79.

Realty Income Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be paid a dividend of $0.27 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Friday, January 30th. Realty Income’s payout ratio is currently 300.00%.

About Realty Income

Realty Income Corporation (NYSE: O) is a real estate investment trust (REIT) that acquires, owns and manages commercial properties subject primarily to long-term net lease agreements. The company’s business model focuses on generating predictable, contractual rental income by leasing properties to tenants under agreements that typically place responsibility for taxes, insurance and maintenance on the tenant. Realty Income is publicly traded on the New York Stock Exchange and markets itself as a reliable income-oriented REIT.

Realty Income’s portfolio is concentrated in single-tenant, retail and service-oriented properties such as drugstores, convenience stores, dollar and discount retailers, restaurants, and other essential-service businesses.