Linscomb Wealth Inc. Makes New Investment in Realty Income Corporation $O

Linscomb Wealth Inc. purchased a new position in shares of Realty Income Corporation (NYSE:O) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 55,104 shares of the real estate investment trust’s stock, valued at approximately $3,350,000.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Realty Income during the 2nd quarter worth $676,500,000. Vanguard Group Inc. lifted its position in Realty Income by 2.5% in the second quarter. Vanguard Group Inc. now owns 146,136,211 shares of the real estate investment trust’s stock valued at $8,418,907,000 after buying an additional 3,624,852 shares during the last quarter. Geode Capital Management LLC boosted its stake in Realty Income by 8.3% during the second quarter. Geode Capital Management LLC now owns 26,979,134 shares of the real estate investment trust’s stock worth $1,548,687,000 after buying an additional 2,058,031 shares during the period. Schroder Investment Management Group increased its position in shares of Realty Income by 420.0% during the second quarter. Schroder Investment Management Group now owns 2,139,550 shares of the real estate investment trust’s stock valued at $123,259,000 after acquiring an additional 1,728,082 shares during the last quarter. Finally, ABN Amro Investment Solutions acquired a new stake in shares of Realty Income during the second quarter valued at about $70,939,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Realty Income Stock Up 1.5%

Shares of NYSE O opened at $63.37 on Friday. The stock has a market cap of $58.29 billion, a P/E ratio of 58.67, a PEG ratio of 3.69 and a beta of 0.79. The business’s fifty day simple moving average is $58.67 and its 200-day simple moving average is $58.50. Realty Income Corporation has a 12-month low of $50.71 and a 12-month high of $63.75. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.72.

Realty Income (NYSE:O) last issued its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.01. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.35 billion. Realty Income had a return on equity of 2.45% and a net margin of 17.17%.Realty Income’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.05 EPS. As a group, equities analysts predict that Realty Income Corporation will post 4.19 EPS for the current fiscal year.

Realty Income Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, February 13th. Investors 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 is Friday, January 30th. Realty Income’s dividend payout ratio is presently 300.00%.

Analyst Upgrades and Downgrades

O has been the topic of several recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Realty Income in a report on Monday, December 29th. Royal Bank Of Canada upped their price target on Realty Income from $60.00 to $61.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Wall Street Zen lowered Realty Income from a “hold” rating to a “sell” rating in a research report on Tuesday. Scotiabank upgraded Realty Income from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $60.00 to $67.00 in a report on Friday, January 30th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $61.00 target price on shares of Realty Income in a research note on Thursday, December 18th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $63.21.

Realty Income Profile

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.