Nomura Asset Management Co. Ltd. lifted its holdings in Realty Income Corp (NYSE:O) by 38.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 480,316 shares of the real estate investment trust’s stock after buying an additional 133,700 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.14% of Realty Income worth $23,949,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of O. Norges Bank acquired a new stake in shares of Realty Income in the fourth quarter worth $223,480,000. Waratah Capital Advisors Ltd. increased its position in Realty Income by 101.9% during the first quarter. Waratah Capital Advisors Ltd. now owns 27,831 shares of the real estate investment trust’s stock worth $1,388,000 after purchasing an additional 1,508,031 shares during the last quarter. Prudential PLC acquired a new stake in shares of Realty Income during the first quarter valued at about $57,035,000. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Realty Income by 50.8% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,869,688 shares of the real estate investment trust’s stock valued at $143,083,000 after purchasing an additional 966,903 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Realty Income by 4.1% in the first quarter. State Street Corp now owns 22,585,473 shares of the real estate investment trust’s stock valued at $1,131,233,000 after purchasing an additional 886,991 shares in the last quarter. Institutional investors own 73.69% of the company’s stock.
O traded down $4.04 during midday trading on Thursday, hitting $58.09. 2,529,070 shares of the company were exchanged, compared to its average volume of 3,361,133. The firm has a market capitalization of $21.34 billion, a P/E ratio of 40.38, a P/E/G ratio of 5.94 and a beta of 0.66. Realty Income Corp has a 1-year low of $38.00 and a 1-year high of $84.92. The firm’s 50 day moving average price is $53.84 and its 200-day moving average price is $66.18. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.72.
Realty Income (NYSE:O) last issued its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.39). Realty Income had a return on equity of 4.95% and a net margin of 30.44%. The company had revenue of $414.30 million for the quarter, compared to the consensus estimate of $399.61 million. During the same period in the prior year, the firm posted $0.37 earnings per share. The business’s revenue for the quarter was up 16.9% on a year-over-year basis. On average, sell-side analysts predict that Realty Income Corp will post 3.34 earnings per share for the current fiscal year.
The company also recently announced a jul 20 dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be paid a $0.2335 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. Realty Income’s dividend payout ratio is presently 84.34%.
Several analysts have recently weighed in on O shares. DA Davidson reduced their price objective on shares of Realty Income from $90.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, March 19th. Citigroup cut shares of Realty Income from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $87.00 to $49.00 in a research note on Tuesday, April 7th. Raymond James boosted their price objective on shares of Realty Income from $66.00 to $71.00 and gave the stock an “outperform” rating in a research report on Thursday. They noted that the move was a valuation call. JPMorgan Chase & Co. increased their price objective on shares of Realty Income from $76.00 to $79.00 and gave the stock a “neutral” rating in a report on Monday, March 9th. Finally, Morgan Stanley raised shares of Realty Income from an “equal weight” rating to an “overweight” rating and set a $60.00 target price for the company in a research report on Monday, May 4th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $72.29.
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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