Glassy Mountain Advisors Inc. Makes New $811,000 Investment in Realty Income Co. (NYSE:O)

Glassy Mountain Advisors Inc. bought a new position in Realty Income Co. (NYSE:O – Get Rating) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 12,787 shares of the real estate investment trust’s stock, valued at approximately $811,000.

Several other hedge funds and other institutional investors have also bought and sold shares of O. Wagner Wealth Management LLC purchased a new stake in Realty Income in the second quarter worth approximately $25,000. Phocas Financial Corp. purchased a new stake in shares of Realty Income during the fourth quarter valued at approximately $32,000. HWG Holdings LP purchased a new stake in shares of Realty Income during the third quarter valued at approximately $41,000. Old North State Trust LLC purchased a new stake in shares of Realty Income during the third quarter valued at approximately $47,000. Finally, CI Investments Inc. boosted its stake in shares of Realty Income by 1,004.1% during the third quarter. CI Investments Inc. now owns 806 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 733 shares during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Realty Income Stock Down 1.7 %

O traded down $1.05 during trading on Friday, reaching $61.38. The stock had a trading volume of 7,068,409 shares, compared to its average volume of 3,570,337. The stock’s 50 day moving average is $65.62 and its two-hundred day moving average is $63.81. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $40.54 billion, a price-to-earnings ratio of 43.23, a P/E/G ratio of 5.16 and a beta of 0.79. Realty Income Co. has a one year low of $55.50 and a one year high of $75.40.

Realty Income (NYSE:O – Get Rating) last posted its quarterly earnings data on Tuesday, February 21st. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.62). The firm had revenue of $888.65 million during the quarter, compared to the consensus estimate of $840.57 million. Realty Income had a return on equity of 3.14% and a net margin of 26.00%. Realty Income’s revenue for the quarter was up 29.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.94 EPS. As a group, analysts expect that Realty Income Co. will post 4.09 earnings per share for the current year.

Realty Income Increases Dividend

The company also recently disclosed a mar 23 dividend, which will be paid on Friday, April 14th. Shareholders of record on Monday, April 3rd will be issued a $0.255 dividend. This is an increase from Realty Income’s previous mar 23 dividend of $0.25. The ex-dividend date is Friday, March 31st. This represents a yield of 4.8%. Realty Income’s dividend payout ratio is 215.49%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. BNP Paribas assumed coverage on Realty Income in a research note on Tuesday, January 17th. They set a “neutral” rating and a $72.00 price objective for the company. Royal Bank of Canada increased their price objective on Realty Income from $68.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, February 23rd. Mizuho dropped their price objective on Realty Income from $69.00 to $66.00 and set a “neutral” rating for the company in a research note on Thursday, March 9th. Raymond James downgraded Realty Income from an “outperform” rating to a “market perform” rating in a report on Monday, January 9th. Finally, StockNews.com started coverage on Realty Income in a report on Thursday. They set a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $72.00.

About Realty Income

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Realty Income Corp. is a real estate company, which engages in generating dependable monthly cash dividends from a consistent and predictable level of cash flow from operations. The company was founded by William E. Clark, Jr. and Evelyn Joan Clark in 1969 and is headquartered in San Diego, CA.