Canada Pension Plan Investment Board grew its holdings in shares of Realty Income Corp (NYSE:O) by 1,326.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 159,154 shares of the real estate investment trust’s stock after acquiring an additional 147,994 shares during the quarter. Canada Pension Plan Investment Board owned 0.05% of Realty Income worth $9,054,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Envestnet Asset Management Inc. increased its stake in shares of Realty Income by 141.6% in the second quarter. Envestnet Asset Management Inc. now owns 327,642 shares of the real estate investment trust’s stock worth $17,622,000 after buying an additional 192,039 shares during the period. DNB Asset Management AS increased its stake in shares of Realty Income by 5.2% in the third quarter. DNB Asset Management AS now owns 34,389 shares of the real estate investment trust’s stock worth $1,956,000 after buying an additional 1,689 shares during the period. Gilman Hill Asset Management LLC purchased a new position in shares of Realty Income in the third quarter worth $209,000. NEXT Financial Group Inc purchased a new position in shares of Realty Income in the third quarter worth $172,000. Finally, Columbia Asset Management purchased a new position in shares of Realty Income in the third quarter worth $228,000. 69.77% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently commented on O. Mizuho set a $58.00 target price on shares of Realty Income and gave the stock a “hold” rating in a research note on Monday, August 13th. ValuEngine raised shares of Realty Income from a “hold” rating to a “buy” rating in a research note on Tuesday, October 23rd. Bank of America lifted their target price on shares of Realty Income from $53.50 to $57.50 and gave the stock a “neutral” rating in a research note on Monday, August 13th. Royal Bank of Canada lifted their target price on shares of Realty Income from $57.00 to $60.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 6th. Finally, Zacks Investment Research downgraded shares of Realty Income from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Realty Income currently has an average rating of “Hold” and an average target price of $57.69.
Realty Income (NYSE:O) last released its quarterly earnings results on Wednesday, October 31st. The real estate investment trust reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.01. The business had revenue of $338.08 million for the quarter, compared to analysts’ expectations of $319.60 million. Realty Income had a net margin of 26.19% and a return on equity of 5.17%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.77 earnings per share. As a group, analysts predict that Realty Income Corp will post 3.16 earnings per share for the current fiscal year.
The business also recently declared a nov 18 dividend, which will be paid on Friday, December 14th. Investors of record on Monday, December 3rd will be issued a $0.2205 dividend. This represents a yield of 4.14%. The ex-dividend date is Friday, November 30th. Realty Income’s dividend payout ratio (DPR) is currently 86.60%.
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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 5,600 real estate properties owned under long-term lease agreements with regional and national commercial tenants.
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