Gamble Jones Investment Counsel Reduces Stock Position in Realty Income Corp (NYSE:O)

Gamble Jones Investment Counsel lessened its holdings in Realty Income Corp (NYSE:O) by 6.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,282 shares of the real estate investment trust’s stock after selling 1,407 shares during the quarter. Gamble Jones Investment Counsel’s holdings in Realty Income were worth $1,479,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Realty Income by 4.2% in the second quarter. Vanguard Group Inc. now owns 50,385,673 shares of the real estate investment trust’s stock valued at $3,475,100,000 after buying an additional 2,012,975 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Realty Income by 5.2% during the second quarter. Northern Trust Corp now owns 5,466,940 shares of the real estate investment trust’s stock worth $377,055,000 after purchasing an additional 268,914 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Realty Income by 437.2% during the second quarter. Nuveen Asset Management LLC now owns 4,960,078 shares of the real estate investment trust’s stock worth $342,096,000 after purchasing an additional 4,036,826 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Realty Income by 147.4% during the third quarter. Daiwa Securities Group Inc. now owns 4,892,536 shares of the real estate investment trust’s stock worth $375,159,000 after purchasing an additional 2,915,287 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Realty Income by 0.9% during the second quarter. Wells Fargo & Company MN now owns 2,775,106 shares of the real estate investment trust’s stock worth $191,399,000 after purchasing an additional 25,049 shares during the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Shares of O traded down $1.25 during mid-day trading on Friday, hitting $76.32. 1,932,262 shares of the company’s stock were exchanged, compared to its average volume of 1,837,161. Realty Income Corp has a fifty-two week low of $59.93 and a fifty-two week high of $82.17. The firm has a market capitalization of $24.89 billion, a P/E ratio of 23.92, a P/E/G ratio of 6.14 and a beta of 0.04. The business’s 50 day moving average is $78.54 and its two-hundred day moving average is $72.99. The company has a current ratio of 2.45, a quick ratio of 1.23 and a debt-to-equity ratio of 0.76.

Realty Income (NYSE:O) last announced its earnings results on Monday, November 4th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.51). Realty Income had a return on equity of 4.61% and a net margin of 27.30%. The business had revenue of $374.20 million for the quarter, compared to analyst estimates of $369.86 million. During the same quarter last year, the company posted $0.34 EPS. Realty Income’s quarterly revenue was up 10.7% on a year-over-year basis. On average, equities research analysts forecast that Realty Income Corp will post 3.29 earnings per share for the current year.

The firm also recently announced a nov 19 dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.227 per share. The ex-dividend date of this dividend is Thursday, October 31st. Realty Income’s dividend payout ratio (DPR) is 85.27%.

Several equities analysts have issued reports on O shares. Standpoint Research raised their price objective on Realty Income to $83.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Deutsche Bank started coverage on Realty Income in a report on Tuesday, August 27th. They set a “hold” rating and a $73.00 price objective on the stock. Morgan Stanley raised their price objective on Realty Income from $72.00 to $75.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 17th. Wells Fargo & Co set a $82.00 price objective on Realty Income and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Finally, Jefferies Financial Group started coverage on Realty Income in a report on Thursday, October 10th. They set a “buy” rating and a $99.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $79.60.

In other news, Director A. Larry Chapman sold 8,000 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $75.09, for a total transaction of $600,720.00. Following the completion of the sale, the director now owns 14,757 shares in the company, valued at $1,108,103.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Paul M. Meurer sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $75.33, for a total transaction of $753,300.00. Following the completion of the sale, the chief financial officer now owns 30,468 shares of the company’s stock, valued at approximately $2,295,154.44. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

Realty Income Profile

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 5,700 real estate properties owned under long-term lease agreements with regional and national commercial tenants.

See Also: Understanding the Price to Earnings Ratio (PE)

Institutional Ownership by Quarter for Realty Income (NYSE:O)

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