Erste Asset Management GmbH Trims Stake in Realty Income Corporation $O

Erste Asset Management GmbH lessened its holdings in Realty Income Corporation (NYSE:O) by 13.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 120,519 shares of the real estate investment trust’s stock after selling 18,284 shares during the period. Erste Asset Management GmbH’s holdings in Realty Income were worth $7,598,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. EFG International AG purchased a new stake in Realty Income in the 4th quarter valued at about $26,000. Evolution Wealth Management Inc. increased its position in shares of Realty Income by 257.1% during the fourth quarter. Evolution Wealth Management Inc. now owns 500 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 360 shares during the last quarter. Quattro Advisors LLC purchased a new stake in shares of Realty Income in the 4th quarter valued at approximately $29,000. Sankala Group LLC acquired a new position in shares of Realty Income in the 4th quarter worth approximately $32,000. Finally, Canton Hathaway LLC acquired a new position in shares of Realty Income in the 1st quarter worth approximately $40,000. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on O shares. Morgan Stanley set a $67.00 price objective on shares of Realty Income in a research report on Monday, April 27th. Stifel Nicolaus set a $70.75 price target on Realty Income in a research report on Tuesday, June 30th. Evercore set a $68.00 target price on Realty Income in a research note on Friday, August 7th. Wells Fargo & Company lifted their target price on Realty Income from $64.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 15th. Finally, Huntington initiated coverage on shares of Realty Income in a research note on Wednesday, July 15th. They set an “outperform” rating and a $70.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.42.

Realty Income Stock Performance

Shares of Realty Income stock opened at $63.06 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 5.88 and a current ratio of 5.88. Realty Income Corporation has a one year low of $55.86 and a one year high of $67.93. The company has a market cap of $59.67 billion, a PE ratio of 46.03, a P/E/G ratio of 4.54 and a beta of 0.71. The business has a 50-day simple moving average of $63.03 and a 200-day simple moving average of $63.09.

Realty Income Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a dividend of $0.271 per share. This represents a c) annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Friday, July 31st. Realty Income’s payout ratio is 237.23%.

Realty Income 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.