TrinityPoint Wealth LLC boosted its stake in shares of Realty Income Corp (NYSE:O) by 10.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,396 shares of the real estate investment trust’s stock after purchasing an additional 427 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Realty Income were worth $305,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the business. H D Vest Advisory Services lifted its position in Realty Income by 14.0% during the second quarter. H D Vest Advisory Services now owns 8,006 shares of the real estate investment trust’s stock worth $552,000 after purchasing an additional 983 shares during the period. Achmea Investment Management B.V. bought a new stake in Realty Income during the second quarter worth about $3,772,000. Waters Parkerson & CO. LLC raised its stake in Realty Income by 5.0% during the second quarter. Waters Parkerson & CO. LLC now owns 152,755 shares of the real estate investment trust’s stock worth $10,536,000 after acquiring an additional 7,325 shares in the last quarter. New Mexico Educational Retirement Board raised its stake in Realty Income by 1.2% during the second quarter. New Mexico Educational Retirement Board now owns 24,900 shares of the real estate investment trust’s stock worth $1,717,000 after acquiring an additional 300 shares in the last quarter. Finally, Heritage Wealth Advisors raised its stake in Realty Income by 738.6% during the second quarter. Heritage Wealth Advisors now owns 738 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 650 shares in the last quarter. 69.29% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Michael R. Pfeiffer sold 10,829 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $69.83, for a total value of $756,189.07. Following the completion of the transaction, the executive vice president now owns 29,163 shares of the company’s stock, valued at $2,036,452.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.
Realty Income (NYSE:O) last released its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.01. Realty Income had a return on equity of 4.79% and a net margin of 27.86%. The company had revenue of $365.50 million during the quarter, compared to the consensus estimate of $344.42 million. During the same quarter in the prior year, the firm posted $0.34 earnings per share. The firm’s revenue was up 11.1% compared to the same quarter last year. Equities analysts expect that Realty Income Corp will post 3.29 earnings per share for the current year.
The company also recently disclosed a aug 19 dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd will be paid a $0.2265 dividend. The ex-dividend date is Friday, August 30th. Realty Income’s dividend payout ratio is currently 85.27%.
Several research analysts have commented on the company. Morgan Stanley boosted their target price on Realty Income from $71.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Citigroup set a $74.00 target price on Realty Income and gave the stock a “hold” rating in a research note on Tuesday, June 11th. Zacks Investment Research downgraded Realty Income from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. ValuEngine downgraded Realty Income from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Capital One Financial raised Realty Income from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, May 8th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $66.89.
About Realty Income
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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