Rehmann Capital Advisory Group Cuts Position in Realty Income Corporation (NYSE:O)

Rehmann Capital Advisory Group lowered its position in shares of Realty Income Corporation (NYSE:O) by 8.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,021 shares of the real estate investment trust’s stock after selling 441 shares during the period. Rehmann Capital Advisory Group’s holdings in Realty Income Corporation were worth $277,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of O. Founders Capital Management acquired a new position in shares of Realty Income Corporation during the first quarter valued at approximately $107,000. Harbour Capital Advisors LLC purchased a new stake in Realty Income Corporation during the first quarter worth $119,000. Signature Estate & Investment Advisors LLC purchased a new stake in Realty Income Corporation during the first quarter worth $144,000. IHT Wealth Management LLC increased its stake in Realty Income Corporation by 6.1% in the first quarter. IHT Wealth Management LLC now owns 2,501 shares of the real estate investment trust’s stock worth $149,000 after buying an additional 143 shares during the last quarter. Finally, Pinnacle Bank purchased a new stake in Realty Income Corporation during the first quarter worth $153,000. 69.03% of the stock is owned by institutional investors.

Realty Income Corporation (NYSE O) opened at 57.45 on Friday. The company has a market cap of $15.75 billion, a P/E ratio of 49.14 and a beta of 0.32. Realty Income Corporation has a 1-year low of $52.72 and a 1-year high of $70.16. The stock has a 50 day moving average price of $56.17 and a 200 day moving average price of $58.05.

Realty Income Corporation (NYSE:O) last released its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.76. Realty Income Corporation had a return on equity of 5.14% and a net margin of 29.19%. The firm had revenue of $300.20 million for the quarter, compared to analyst estimates of $289.86 million. During the same quarter last year, the company posted $0.70 earnings per share. The business’s revenue was up 10.8% on a year-over-year basis. On average, equities research analysts anticipate that Realty Income Corporation will post $1.21 EPS for the current fiscal year.

The company also recently disclosed a aug 17 dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be given a $0.2115 dividend. The ex-dividend date is Friday, July 28th. This represents a yield of 4.63%. Realty Income Corporation’s payout ratio is currently 217.09%.

Several analysts have weighed in on O shares. Canaccord Genuity started coverage on Realty Income Corporation in a research note on Tuesday, July 18th. They set a “buy” rating and a $61.00 target price on the stock. Stifel Nicolaus reissued a “buy” rating and set a $65.00 target price on shares of Realty Income Corporation in a research note on Friday, July 14th. BidaskClub raised Realty Income Corporation from a “sell” rating to a “hold” rating in a research note on Sunday, July 16th. Ladenburg Thalmann Financial Services reaffirmed a “hold” rating on shares of Realty Income Corporation in a research note on Thursday, July 27th. Finally, FBR & Co began coverage on Realty Income Corporation in a research note on Monday, July 17th. They issued a “market perform” rating and a $56.00 price target on the stock. Four analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $63.68.

In related news, Director Priya Cherian Huskins sold 8,000 shares of the firm’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $56.23, for a total value of $449,840.00. Following the completion of the sale, the director now owns 20,513 shares in the company, valued at $1,153,445.99. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.30% of the stock is owned by company insiders.

About Realty Income Corporation

Realty Income Corporation is a real estate investment trust (REIT). The Company is engaged in in-house acquisition, portfolio management, asset management, credit research, real estate research, legal, finance and accounting, information technology and capital markets capabilities. As of December 31, 2016, the Company owned a diversified portfolio of 4,944 properties located in 49 states and Puerto Rico, with over 83.0 million square feet of leasable space leased to 248 different commercial tenants doing business in 47 separate industries.