Metropolitan Life Insurance Co. NY cut its stake in Realty Income Co. (NYSE:O) by 59.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,855 shares of the real estate investment trust’s stock after selling 85,554 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Realty Income were worth $3,356,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. San Francisco Sentry Investment Group CA grew its position in shares of Realty Income by 500.0% in the third quarter. San Francisco Sentry Investment Group CA now owns 1,800 shares of the real estate investment trust’s stock valued at $103,000 after purchasing an additional 1,500 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in shares of Realty Income in the third quarter valued at approximately $130,000. JFS Wealth Advisors LLC grew its position in shares of Realty Income by 77.5% in the fourth quarter. JFS Wealth Advisors LLC now owns 2,284 shares of the real estate investment trust’s stock valued at $130,000 after purchasing an additional 997 shares during the last quarter. FNY Managed Accounts LLC acquired a new stake in shares of Realty Income in the third quarter valued at approximately $137,000. Finally, Wolverine Asset Management LLC acquired a new stake in shares of Realty Income in the fourth quarter valued at approximately $158,000. 70.95% of the stock is owned by institutional investors.
In other Realty Income news, EVP Benjamin N. Fox sold 2,276 shares of Realty Income stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $50.39, for a total value of $114,687.64. Following the transaction, the executive vice president now owns 17,531 shares in the company, valued at approximately $883,387.09. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.30% of the stock is owned by company insiders.
Realty Income (NYSE:O) last announced its earnings results on Wednesday, February 21st. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.44. Realty Income had a net margin of 26.22% and a return on equity of 5.11%. The firm had revenue of $298.90 million for the quarter, compared to analyst estimates of $301.53 million. During the same quarter last year, the business earned $0.33 earnings per share. Realty Income’s revenue was up 8.6% compared to the same quarter last year. analysts forecast that Realty Income Co. will post 3.16 EPS for the current year.
The business also recently declared a apr 18 dividend, which will be paid on Friday, April 13th. Shareholders of record on Monday, April 2nd will be issued a $0.2195 dividend. This represents a dividend yield of 5.15%. The ex-dividend date of this dividend is Thursday, March 29th. This is a positive change from Realty Income’s previous apr 18 dividend of $0.22. Realty Income’s dividend payout ratio (DPR) is 236.94%.
Several analysts have recently commented on the stock. Mizuho reiterated a “hold” rating and issued a $53.00 price target on shares of Realty Income in a research report on Friday, March 2nd. Stifel Nicolaus lowered their price target on shares of Realty Income from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. B. Riley set a $56.00 price target on shares of Realty Income and gave the company a “hold” rating in a research report on Thursday, February 22nd. Citigroup upgraded shares of Realty Income to a “market perform” rating in a research report on Wednesday, December 20th. They noted that the move was a valuation call. Finally, Raymond James Financial upgraded shares of Realty Income from an “underperform” rating to a “market perform” rating in a research report on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $62.08.
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About Realty Income
Realty Income, The Monthly Dividend Company®, is an S&P 500 company dedicated to providing shareholders with dependable monthly income. The company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 5,000 real estate properties owned under long-term lease agreements with regional and national commercial tenants.
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