Brookstone Capital Management trimmed its holdings in shares of Realty Income Corp (NYSE:O) by 31.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,285 shares of the real estate investment trust’s stock after selling 2,478 shares during the period. Brookstone Capital Management’s holdings in Realty Income were worth $389,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Laurel Wealth Advisors LLC purchased a new position in shares of Realty Income during the 4th quarter worth approximately $25,000. Cascade Investment Advisors Inc. raised its stake in shares of Realty Income by 900.0% during the 1st quarter. Cascade Investment Advisors Inc. now owns 400 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 360 shares in the last quarter. Pearl River Capital LLC purchased a new position in shares of Realty Income during the 4th quarter worth approximately $26,000. Somerset Trust Co raised its stake in shares of Realty Income by 192.3% during the 1st quarter. Somerset Trust Co now owns 456 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 300 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC raised its stake in shares of Realty Income by 43.7% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 493 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 150 shares in the last quarter. 73.52% of the stock is owned by institutional investors and hedge funds.
Realty Income stock opened at $68.53 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.80. The firm has a market cap of $20.82 billion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 4.99 and a beta of 0.19. Realty Income Corp has a fifty-two week low of $48.80 and a fifty-two week high of $74.14.
The business also recently declared a may 19 dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a dividend of $0.226 per share. This is an increase from Realty Income’s previous may 19 dividend of $0.23. The ex-dividend date is Tuesday, April 30th. This represents a yield of 3.96%. Realty Income’s dividend payout ratio (DPR) is presently 84.95%.
O has been the subject of several research analyst reports. Zacks Investment Research 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 Thursday, January 3rd. Stifel Nicolaus raised their price objective on Realty Income from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Citigroup set a $70.00 price objective on Realty Income and gave the company a “hold” rating in a research note on Tuesday, February 26th. Wells Fargo & Co raised their price objective on Realty Income from $71.00 to $78.00 and gave the company an “outperform” rating in a research note on Thursday, March 21st. They noted that the move was a valuation call. Finally, Capital One Financial downgraded Realty Income from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. Realty Income has a consensus rating of “Hold” and a consensus price target of $61.83.
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.
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