Ameriprise Financial Inc. cut its stake in shares of Realty Income Co. (NYSE:O – Free Report) by 0.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 2,810,045 shares of the real estate investment trust’s stock after selling 18,880 shares during the period. Ameriprise Financial Inc. owned about 0.42% of Realty Income worth $177,955,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in shares of Realty Income by 1.1% during the first quarter. BlackRock Inc. now owns 59,317,110 shares of the real estate investment trust’s stock worth $3,755,959,000 after buying an additional 642,016 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Realty Income by 9.1% during the first quarter. Bank of America Corp DE now owns 25,146,246 shares of the real estate investment trust’s stock worth $1,592,260,000 after purchasing an additional 2,096,705 shares in the last quarter. Morgan Stanley lifted its position in shares of Realty Income by 13.6% during the fourth quarter. Morgan Stanley now owns 18,951,549 shares of the real estate investment trust’s stock worth $1,202,097,000 after purchasing an additional 2,273,591 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Realty Income by 0.6% during the first quarter. Geode Capital Management LLC now owns 14,441,280 shares of the real estate investment trust’s stock worth $912,560,000 after purchasing an additional 86,340 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Realty Income by 7.8% during the first quarter. JPMorgan Chase & Co. now owns 11,447,342 shares of the real estate investment trust’s stock worth $724,847,000 after purchasing an additional 829,227 shares in the last quarter. 78.82% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
O has been the topic of several analyst reports. Mizuho reduced their target price on shares of Realty Income from $65.00 to $61.00 in a report on Thursday, August 10th. TheStreet lowered shares of Realty Income from a “b-” rating to a “c+” rating in a research note on Wednesday, August 23rd. JPMorgan Chase & Co. dropped their price target on shares of Realty Income from $71.00 to $69.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 30th. Royal Bank of Canada lowered their target price on shares of Realty Income from $68.00 to $67.00 and set an “outperform” rating on the stock in a research report on Friday, August 4th. Finally, Robert W. Baird restated a “neutral” rating and set a $69.00 target price on shares of Realty Income in a research report on Monday, August 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $68.18.
Realty Income Price Performance
Realty Income stock opened at $54.10 on Friday. Realty Income Co. has a one year low of $53.98 and a one year high of $68.85. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.56 and a current ratio of 1.56. The business has a fifty day moving average of $58.45 and a two-hundred day moving average of $60.31. The company has a market cap of $38.35 billion, a P/E ratio of 40.37, a price-to-earnings-growth ratio of 2.75 and a beta of 0.79.
Realty Income Increases Dividend
The company also recently declared a oct 23 dividend, which will be paid on Friday, October 13th. Stockholders of record on Monday, October 2nd will be paid a dividend of $0.256 per share. This represents a dividend yield of 5.6%. The ex-dividend date is Friday, September 29th. This is an increase from Realty Income’s previous oct 23 dividend of $0.26. Realty Income’s payout ratio is 229.10%.
About Realty Income
Realty Income, The Monthly Dividend Company, is an S&P 500 company and member of the S&P 500 Dividend Aristocrats index. We invest in people and places to deliver dependable monthly dividends that increase over time. The company is structured as a real estate investment trust ("REIT"), and its monthly dividends are supported by the cash flow from over 13,100 real estate properties primarily owned under long-term net lease agreements with commercial clients.
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