Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Realty Income Co. (NYSE:O – Get Rating) by 42.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 82,973 shares of the real estate investment trust’s stock after acquiring an additional 24,725 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Realty Income were worth $5,750,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. bought a new position in Realty Income during the first quarter valued at approximately $30,000. Rinkey Investments bought a new position in shares of Realty Income in the fourth quarter valued at approximately $32,000. Verity Asset Management Inc. bought a new position in shares of Realty Income in the first quarter valued at approximately $33,000. Riverview Trust Co bought a new position in shares of Realty Income in the first quarter valued at approximately $34,000. Finally, Credit Agricole S A bought a new position in shares of Realty Income in the fourth quarter valued at approximately $36,000. Institutional investors own 81.57% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the stock. Raymond James dropped their price objective on shares of Realty Income from $82.00 to $78.00 and set an “outperform” rating for the company in a research note on Tuesday, September 6th. StockNews.com downgraded shares of Realty Income from a “hold” rating to a “sell” rating in a research report on Thursday, September 1st. Jefferies Financial Group cut their price target on shares of Realty Income from $81.00 to $78.00 in a research report on Thursday, June 30th. Morgan Stanley cut their price target on shares of Realty Income from $77.00 to $76.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 12th. Finally, Credit Suisse Group initiated coverage on shares of Realty Income in a report on Wednesday, June 22nd. They set an “outperform” rating and a $75.00 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $76.57.
Realty Income Stock Performance
Realty Income Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Monday, October 3rd will be issued a dividend of $0.248 per share. This represents a $0.99 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Friday, September 30th. Realty Income’s dividend payout ratio is 280.19%.
Realty Income 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 6,500 real estate properties owned under long-term lease agreements with our commercial clients.
- Get a free copy of the StockNews.com research report on Realty Income (O)
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