Redhawk Wealth Advisors Inc. Purchases New Stake in Realty Income Corporation $O

Redhawk Wealth Advisors Inc. acquired a new position in shares of Realty Income Corporation (NYSE:O) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 15,922 shares of the real estate investment trust’s stock, valued at approximately $987,000.

Other hedge funds have also recently added to or reduced their stakes in the company. EFG International AG bought a new stake in Realty Income during the fourth quarter valued at $26,000. Evolution Wealth Management Inc. lifted its position in shares of Realty Income by 257.1% in the 4th quarter. Evolution Wealth Management Inc. now owns 500 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 360 shares during the last quarter. Quattro Advisors LLC bought a new position in shares of Realty Income in the 4th quarter worth about $29,000. Sankala Group LLC acquired a new position in shares of Realty Income in the 4th quarter valued at about $32,000. Finally, Canton Hathaway LLC acquired a new position in shares of Realty Income in the 1st quarter valued at about $40,000. Institutional investors and hedge funds own 70.81% of the company’s stock.

Realty Income Stock Performance

Shares of O opened at $61.79 on Wednesday. The firm has a fifty day moving average of $62.91 and a 200-day moving average of $63.06. The company has a market cap of $58.47 billion, a price-to-earnings ratio of 45.10, a price-to-earnings-growth ratio of 4.51 and a beta of 0.71. The company has a debt-to-equity ratio of 0.73, a quick ratio of 5.88 and a current ratio of 5.88. Realty Income Corporation has a 1 year low of $55.86 and a 1 year high of $67.93.

Realty Income Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a $0.271 dividend. The ex-dividend date is Friday, July 31st. This represents a c) annualized dividend and a yield of 5.3%. Realty Income’s dividend payout ratio (DPR) is currently 237.23%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on O. Evercore set a $68.00 price objective on shares of Realty Income in a research report on Friday. Royal Bank Of Canada decreased their target price on Realty Income from $71.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday, August 7th. Scotiabank lowered their target price on Realty Income from $72.00 to $67.00 and set a “sector outperform” rating for the company in a report on Thursday, June 18th. Wells Fargo & Company increased their price target on Realty Income from $64.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 15th. Finally, Mizuho cut their price target on Realty Income from $68.00 to $66.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $67.42.

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.