Hutner Capital Management Inc. lifted its stake in shares of Realty Income Corp (NYSE:O) by 40.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,418 shares of the real estate investment trust’s stock after buying an additional 8,743 shares during the period. Realty Income comprises approximately 1.3% of Hutner Capital Management Inc.’s investment portfolio, making the stock its 23rd biggest position. Hutner Capital Management Inc.’s holdings in Realty Income were worth $1,730,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in O. Moody National Bank Trust Division acquired a new position in shares of Realty Income during the third quarter worth $136,000. NEXT Financial Group Inc acquired a new position in shares of Realty Income during the third quarter worth $172,000. New England Asset Management Inc. acquired a new position in shares of Realty Income during the second quarter worth $178,000. Piedmont Investment Advisors LLC acquired a new position in shares of Realty Income during the second quarter worth $179,000. Finally, Elmwood Wealth Management Inc. increased its holdings in Realty Income by 100.0% in the second quarter. Elmwood Wealth Management Inc. now owns 3,392 shares of the real estate investment trust’s stock valued at $179,000 after purchasing an additional 1,696 shares during the period. Institutional investors own 68.44% of the company’s stock.
O has been the subject of a number of recent research reports. Morgan Stanley downgraded Realty Income from an “overweight” rating to an “equal” rating and set a $31.00 price objective for the company. in a report on Monday, October 1st. Zacks Investment Research upgraded Realty Income from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a report on Friday, October 5th. Mitsubishi UFJ Financial Group upgraded Realty Income from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $54.00 to $62.00 in a report on Tuesday, July 10th. Janney Montgomery Scott downgraded Realty Income from a “buy” rating to a “neutral” rating and set a $44.00 price objective for the company. in a report on Wednesday, August 29th. They noted that the move was a valuation call. Finally, Wells Fargo & Co set a $65.00 price objective on Realty Income and gave the company a “buy” rating in a report on Tuesday, September 4th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Realty Income currently has an average rating of “Hold” and a consensus target price of $56.51.
Shares of Realty Income stock opened at $60.26 on Monday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.20 and a quick ratio of 1.20. Realty Income Corp has a 1-year low of $47.25 and a 1-year high of $61.99. The stock has a market cap of $17.48 billion, a price-to-earnings ratio of 19.69, a price-to-earnings-growth ratio of 4.50 and a beta of -0.01.
Realty Income (NYSE:O) last issued its quarterly earnings results on Wednesday, October 31st. The real estate investment trust reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. Realty Income had a return on equity of 5.17% and a net margin of 26.19%. The firm had revenue of $338.08 million during the quarter, compared to the consensus estimate of $319.60 million. During the same period last year, the business posted $0.77 EPS. The business’s revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts forecast that Realty Income Corp will post 3.17 earnings per share for the current year.
The firm also recently declared a nov 18 dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st will be issued a dividend of $0.2205 per share. The ex-dividend date of this dividend is Wednesday, October 31st. This represents a yield of 4.56%. Realty Income’s payout ratio is currently 86.60%.
In other news, Director Gregory Mclaughlin sold 3,100 shares of the stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $58.00, for a total transaction of $179,800.00. Following the transaction, the director now owns 16,886 shares of the company’s stock, valued at approximately $979,388. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director A. Larry Chapman sold 9,000 shares of the stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $58.56, for a total transaction of $527,040.00. Following the transaction, the director now directly owns 18,757 shares in the company, valued at approximately $1,098,409.92. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.
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.
Further Reading: How to Invest in an Index Fund
Receive News & Ratings for Realty Income Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Realty Income and related companies with MarketBeat.com's FREE daily email newsletter.