Realty Income Corporation $O Stock Position Raised by Ascentis Wealth Management LLC

Key Points

• Ascentis Wealth Management dramatically increased its Realty Income position by 6,566.1% in the second quarter, owning 685,477 shares worth approximately $42.5 million. Institutional investors and hedge funds collectively own 70.81% of the REIT.
• Analyst sentiment remains generally positive, with Realty Income carrying a “Moderate Buy” consensus rating and an average price target of $67.42 versus its recent $63.06 price.
• Realty Income declared a monthly dividend of $0.271 per share, equating to an annualized yield of about 5.2%; however, its reported dividend payout ratio is high at 237.23%.

Ascentis Wealth Management LLC increased its holdings in shares of Realty Income Corporation (NYSE:O - Free Report) by 6,566.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 685,477 shares of the real estate investment trust's stock after acquiring an additional 675,194 shares during the quarter. Ascentis Wealth Management LLC owned approximately 0.07% of Realty Income worth $42,472,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Facet Wealth Inc. bought a new position in Realty Income during the 2nd quarter worth $207,000. Peterson Wealth Services lifted its stake in Realty Income by 4.6% in the second quarter. Peterson Wealth Services now owns 37,453 shares of the real estate investment trust's stock valued at $2,321,000 after buying an additional 1,662 shares during the last quarter. TD Waterhouse Canada Inc. lifted its stake in Realty Income by 2.6% in the second quarter. TD Waterhouse Canada Inc. now owns 8,797 shares of the real estate investment trust's stock valued at $544,000 after buying an additional 225 shares during the last quarter. Global Assets Advisory LLC lifted its stake in Realty Income by 20.6% in the second quarter. Global Assets Advisory LLC now owns 7,379 shares of the real estate investment trust's stock valued at $460,000 after buying an additional 1,258 shares during the last quarter. Finally, Resonant Capital Advisors LLC boosted its holdings in shares of Realty Income by 11.2% during the second quarter. Resonant Capital Advisors LLC now owns 6,030 shares of the real estate investment trust's stock valued at $375,000 after acquiring an additional 606 shares during the period. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

O has been the subject of several recent research reports. Barclays lowered their price target on shares of Realty Income from $68.00 to $67.00 and set an "equal weight" rating for the company in a research report 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. Scotiabank reduced their target price on shares of Realty Income from $72.00 to $67.00 and set a "sector outperform" rating for the company in a research note on Thursday, June 18th. Evercore set a $68.00 target price on shares of Realty Income in a research report on Friday, August 7th. Finally, Wells Fargo & Company raised their price target on shares of Realty Income from $64.00 to $65.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $67.42.

Realty Income Price Performance

Shares of NYSE O opened at $63.06 on Friday. Realty Income Corporation has a fifty-two week low of $55.86 and a fifty-two week high of $67.93. The firm's 50-day simple moving average is $63.03 and its 200 day simple moving average is $63.09. The company has a quick ratio of 5.88, a current ratio of 5.88 and a debt-to-equity ratio of 0.73. The stock has a market cap of $59.67 billion, a P/E ratio of 46.03, a P/E/G ratio of 4.54 and a beta of 0.71.

Realty Income Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be paid a dividend of $0.271 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date is Friday, July 31st. Realty Income's dividend payout ratio (DPR) is currently 237.23%.

Realty Income Company 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.

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