Envestnet Asset Management Inc. Sells 73,139 Shares of Realty Income Corporation $O

Envestnet Asset Management Inc. lowered its position in Realty Income Corporation (NYSE:O) by 3.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,198,075 shares of the real estate investment trust’s stock after selling 73,139 shares during the period. Envestnet Asset Management Inc.’s holdings in Realty Income were worth $133,621,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Heartwood Wealth Advisors LLC purchased a new stake in shares of Realty Income in the 3rd quarter valued at $29,000. Strengthening Families & Communities LLC lifted its stake in Realty Income by 586.1% in the third quarter. Strengthening Families & Communities LLC now owns 494 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 422 shares during the last quarter. Avion Wealth grew its stake in shares of Realty Income by 142.4% during the second quarter. Avion Wealth now owns 526 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 309 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of Realty Income during the second quarter valued at about $31,000. Finally, Country Trust Bank lifted its stake in shares of Realty Income by 806.5% in the 2nd quarter. Country Trust Bank now owns 562 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 500 shares during the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on O. Morgan Stanley raised their price target on Realty Income from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 24th. Scotiabank raised shares of Realty Income from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $60.00 to $67.00 in a research note on Friday, January 30th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $61.00 price target on shares of Realty Income in a report on Thursday, December 18th. Barclays raised their price target on shares of Realty Income from $63.00 to $64.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 3rd. Finally, Royal Bank Of Canada upped their price objective on shares of Realty Income from $60.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $63.21.

Realty Income Stock Down 0.1%

Shares of NYSE O opened at $63.27 on Friday. The firm has a fifty day simple moving average of $58.78 and a two-hundred day simple moving average of $58.55. Realty Income Corporation has a 12 month low of $50.71 and a 12 month high of $63.90. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $58.20 billion, a PE ratio of 58.58, a price-to-earnings-growth ratio of 3.74 and a beta of 0.79.

Realty Income Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be given a dividend of $0.27 per share. This represents a c) annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Friday, January 30th. Realty Income’s payout ratio is presently 300.00%.

Realty Income Company Profile

Realty Income Corporation (NYSE: O) is a real estate investment trust (REIT) that acquires, owns and manages commercial properties subject primarily to long-term net lease agreements. The company’s business model focuses on generating predictable, contractual rental income by leasing properties to tenants under agreements that typically place responsibility for taxes, insurance and maintenance on the tenant. Realty Income is publicly traded on the New York Stock Exchange and markets itself as a reliable income-oriented REIT.

Realty Income’s portfolio is concentrated in single-tenant, retail and service-oriented properties such as drugstores, convenience stores, dollar and discount retailers, restaurants, and other essential-service businesses.