Concentric Wealth Management LLC Boosts Holdings in Realty Income Corp (O)

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Concentric Wealth Management LLC boosted its stake in Realty Income Corp (NYSE:O) by 1.4% in the first quarter, HoldingsChannel.com reports. The firm owned 23,759 shares of the real estate investment trust’s stock after buying an additional 327 shares during the period. Concentric Wealth Management LLC’s holdings in Realty Income were worth $1,748,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of O. JPMorgan Chase & Co. boosted its stake in Realty Income by 16.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,121,860 shares of the real estate investment trust’s stock valued at $120,713,000 after purchasing an additional 293,655 shares in the last quarter. Teachers Advisors LLC boosted its stake in Realty Income by 0.7% during the 3rd quarter. Teachers Advisors LLC now owns 555,955 shares of the real estate investment trust’s stock valued at $31,628,000 after purchasing an additional 3,641 shares in the last quarter. Legal & General Group Plc boosted its stake in Realty Income by 2.7% during the 3rd quarter. Legal & General Group Plc now owns 2,140,558 shares of the real estate investment trust’s stock valued at $121,776,000 after purchasing an additional 56,618 shares in the last quarter. Vanguard Group Inc boosted its stake in Realty Income by 1.2% during the 3rd quarter. Vanguard Group Inc now owns 45,658,463 shares of the real estate investment trust’s stock valued at $2,597,510,000 after purchasing an additional 539,460 shares in the last quarter. Finally, First Hawaiian Bank boosted its stake in Realty Income by 24.2% during the 4th quarter. First Hawaiian Bank now owns 1,141 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 222 shares in the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus raised their price objective on Realty Income from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Capital One Financial raised Realty Income from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, May 8th. Zacks Investment Research lowered Realty Income from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. Citigroup set a $70.00 price objective on Realty Income and gave the stock a “hold” rating in a research note on Tuesday, February 26th. Finally, Wells Fargo & Co raised their price objective on Realty Income from $71.00 to $78.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $61.55.

O opened at $69.05 on Wednesday. The firm has a market cap of $21.63 billion, a PE ratio of 21.65, a P/E/G ratio of 4.69 and a beta of 0.16. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.35 and a quick ratio of 1.35. Realty Income Corp has a fifty-two week low of $52.11 and a fifty-two week high of $74.14.

Realty Income (NYSE:O) last released its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.43). The company had revenue of $354.40 million for the quarter, compared to the consensus estimate of $335.37 million. Realty Income had a return on equity of 7.65% and a net margin of 28.70%. The business’s revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.29 earnings per share. Equities research analysts forecast that Realty Income Corp will post 3.3 earnings per share for the current fiscal year.

The business also recently disclosed a may 19 dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.226 per share. This represents a dividend yield of 3.92%. The ex-dividend date of this dividend is Friday, May 31st. Realty Income’s dividend payout ratio is presently 84.95%.

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Realty Income Company 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: The benefits and drawbacks of dollar cost averaging

Want to see what other hedge funds are holding O? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Realty Income Corp (NYSE:O).

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

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