Realty Income Corp (O) Stake Decreased by Orleans Capital Management Corp LA
Orleans Capital Management Corp LA reduced its position in Realty Income Corp (NYSE:O) by 8.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 37,500 shares of the real estate investment trust’s stock after selling 3,603 shares during the quarter. Orleans Capital Management Corp LA’s holdings in Realty Income were worth $2,017,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the company. Clarus Wealth Advisors purchased a new position in shares of Realty Income in the 2nd quarter valued at approximately $114,000. Perigon Wealth Management LLC raised its position in shares of Realty Income by 135.7% in the 1st quarter. Perigon Wealth Management LLC now owns 2,659 shares of the real estate investment trust’s stock valued at $138,000 after purchasing an additional 1,531 shares during the last quarter. New England Asset Management Inc. purchased a new position in shares of Realty Income in the 2nd quarter valued at approximately $178,000. Piedmont Investment Advisors LLC purchased a new position in shares of Realty Income in the 2nd quarter valued at approximately $179,000. Finally, Ken Stern & Associates Inc. purchased a new position in shares of Realty Income in the 2nd quarter valued at approximately $200,000. Institutional investors and hedge funds own 68.17% of the company’s stock.
Shares of NYSE:O traded down $0.26 during trading on Tuesday, hitting $57.91. 8,327 shares of the stock traded hands, compared to its average volume of 1,169,746. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.28 and a quick ratio of 1.28. The firm has a market cap of $16.72 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 4.09 and a beta of 0.10. Realty Income Corp has a 52-week low of $47.25 and a 52-week high of $59.99.
The firm also recently announced a sep 18 dividend, which was paid on Friday, September 14th. Shareholders of record on Tuesday, September 4th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, August 31st. This represents a yield of 4.51%. Realty Income’s dividend payout ratio (DPR) is presently 86.27%.
O has been the subject of a number of recent research reports. ValuEngine lowered shares of Realty Income from a “hold” rating to a “sell” rating in a research report on Wednesday, June 13th. Mitsubishi UFJ Financial Group raised shares of Realty Income from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $54.00 to $62.00 in a research report on Tuesday, July 10th. Zacks Investment Research lowered shares of Realty Income from a “hold” rating to a “sell” rating in a research report on Tuesday, July 31st. Mizuho set a $58.00 price target on shares of Realty Income and gave the stock a “hold” rating in a research report on Monday, August 13th. Finally, Bank of America raised their price target on shares of Realty Income from $53.50 to $57.50 and gave the stock a “neutral” rating in a research report on Monday, August 13th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $58.19.
In other news, EVP Michael R. Pfeiffer sold 10,000 shares of the business’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $57.63, for a total transaction of $576,300.00. Following the transaction, the executive vice president now owns 37,655 shares of the company’s stock, valued at approximately $2,170,057.65. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Paul M. Meurer sold 13,285 shares of the business’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $57.62, for a total transaction of $765,481.70. Following the transaction, the chief financial officer now directly owns 37,160 shares in the company, valued at approximately $2,141,159.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,067 shares of company stock worth $5,142,150. 0.20% of the stock is currently owned by corporate insiders.
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 5,400 real estate properties owned under long-term lease agreements with regional and national commercial tenants.
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