Erste Asset Management GmbH Cuts Stock Position in Realty Income Corporation $O

Key Points

• Erste Asset Management reduced its Realty Income stake by 13.2% in the second quarter, selling 18,284 shares and retaining 120,519 shares valued at approximately $7.6 million.
• Institutional ownership remains substantial at 70.81%, with several other investment firms increasing their positions during the quarter.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $67.42. Realty Income also declared a monthly $0.271 dividend, representing an annualized yield of about 5.2%.

Erste Asset Management GmbH trimmed its holdings in shares of Realty Income Corporation (NYSE:O - Free Report) by 13.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,519 shares of the real estate investment trust's stock after selling 18,284 shares during the quarter. Erste Asset Management GmbH's holdings in Realty Income were worth $7,598,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in O. Creative Financial Designs Inc. ADV lifted its stake in Realty Income by 17.2% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 4,590 shares of the real estate investment trust's stock valued at $284,000 after buying an additional 672 shares in the last quarter. Kestra Private Wealth Services LLC increased its stake in Realty Income by 3.3% during the 2nd quarter. Kestra Private Wealth Services LLC now owns 159,562 shares of the real estate investment trust's stock worth $9,886,000 after buying an additional 5,092 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in Realty Income by 1.2% during the 2nd quarter. Asset Management One Co. Ltd. now owns 1,792,045 shares of the real estate investment trust's stock worth $111,035,000 after buying an additional 21,879 shares in the last quarter. Latitude Advisors LLC raised its holdings in shares of Realty Income by 7.1% during the second quarter. Latitude Advisors LLC now owns 6,371 shares of the real estate investment trust's stock valued at $395,000 after acquiring an additional 422 shares during the last quarter. Finally, Werba Rubin Papier Wealth Management raised its holdings in shares of Realty Income by 5.0% during the second quarter. Werba Rubin Papier Wealth Management now owns 6,958 shares of the real estate investment trust's stock valued at $431,000 after acquiring an additional 333 shares during the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on O. Barclays lowered their price target on Realty Income from $68.00 to $67.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 22nd. Freedom Capital upgraded shares of Realty Income from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 11th. Royal Bank Of Canada dropped their price objective on shares of Realty Income from $71.00 to $70.00 and set an "outperform" rating for the company in a research note on Friday, August 7th. Huntington began coverage on shares of Realty Income in a report on Wednesday, July 15th. They issued an "outperform" rating and a $70.00 price objective for the company. Finally, UBS Group set a $67.00 target price on shares of Realty Income in a research note on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $67.42.

Realty Income Price Performance

Realty Income stock opened at $63.06 on Friday. Realty Income Corporation has a 12-month low of $55.86 and a 12-month high of $67.93. The stock has a market cap of $59.67 billion, a P/E ratio of 46.03, a PEG ratio of 4.54 and a beta of 0.71. The company has a 50-day moving average price of $63.03 and a 200 day moving average price of $63.09. The company has a current ratio of 5.88, a quick ratio of 5.88 and a debt-to-equity ratio of 0.73.

Realty Income Announces Dividend

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

About Realty Income

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.

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