Belpointe Asset Management LLC increased its holdings in Realty Income Co. (NYSE:O – Get Rating) by 13.2% in the second quarter, Holdings Channel.com reports. The firm owned 24,101 shares of the real estate investment trust's stock after purchasing an additional 2,807 shares during the period. Belpointe Asset Management LLC's holdings in Realty Income were worth $1,644,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in O. Dynamic Advisor Solutions LLC boosted its holdings in Realty Income by 50.9% in the first quarter. Dynamic Advisor Solutions LLC now owns 5,803 shares of the real estate investment trust's stock valued at $402,000 after acquiring an additional 1,958 shares during the last quarter. Gateway Investment Advisers LLC boosted its holdings in Realty Income by 52.5% in the first quarter. Gateway Investment Advisers LLC now owns 14,457 shares of the real estate investment trust's stock valued at $1,002,000 after acquiring an additional 4,978 shares during the last quarter. Rosenberg Matthew Hamilton boosted its holdings in Realty Income by 654.5% in the first quarter. Rosenberg Matthew Hamilton now owns 913 shares of the real estate investment trust's stock valued at $63,000 after acquiring an additional 792 shares during the last quarter. Concentric Wealth Management LLC boosted its holdings in Realty Income by 2.6% in the first quarter. Concentric Wealth Management LLC now owns 58,176 shares of the real estate investment trust's stock valued at $4,032,000 after acquiring an additional 1,487 shares during the last quarter. Finally, Signature Wealth Management Group boosted its holdings in Realty Income by 8.7% in the first quarter. Signature Wealth Management Group now owns 56,081 shares of the real estate investment trust's stock valued at $3,886,000 after acquiring an additional 4,512 shares during the last quarter. Institutional investors and hedge funds own 81.57% of the company's stock.
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Realty Income Stock Up 0.3 %
Shares of NYSE O opened at $57.63 on Friday. Realty Income Co. has a 1 year low of $55.50 and a 1 year high of $75.40. The firm has a market cap of $34.67 billion, a price-to-earnings ratio of 54.37, a PEG ratio of 5.15 and a beta of 0.78. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.90 and a current ratio of 1.90. The stock's 50-day simple moving average is $64.21 and its 200-day simple moving average is $67.66.
Realty Income Dividend Announcement
The firm also recently announced a oct 22 dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 1st will be given a dividend of $0.248 per share. The ex-dividend date is Monday, October 31st. Realty Income's payout ratio is 281.13%.
Analyst Upgrades and Downgrades
A number of research analysts have commented on O shares. StockNews.com started coverage on Realty Income in a research note on Wednesday, October 12th. They set a "sell" rating on the stock. Morgan Stanley reduced their price objective on Realty Income from $77.00 to $76.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 12th. Raymond James reduced their price objective on Realty Income from $78.00 to $68.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 4th. Jefferies Financial Group reduced their price objective on Realty Income from $81.00 to $78.00 in a research note on Thursday, June 30th. Finally, Mizuho cut Realty Income from a "buy" rating to a "neutral" rating in a research note on Thursday, October 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $75.14.
About Realty Income
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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 6,500 real estate properties owned under long-term lease agreements with our commercial clients.
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