Bard Financial Services Inc. acquired a new stake in Realty Income Co. (NYSE:O) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 19,000 shares of the real estate investment trust’s stock, valued at approximately $1,181,000.
Other hedge funds have also made changes to their positions in the company. Key Financial Inc bought a new position in Realty Income in the fourth quarter valued at approximately $25,000. Safeguard Investment Advisory Group LLC bought a new position in Realty Income in the fourth quarter valued at approximately $26,000. Capital Asset Advisory Services LLC bought a new position in Realty Income in the fourth quarter valued at approximately $31,000. Vantage Consulting Group Inc bought a new position in Realty Income in the fourth quarter valued at approximately $32,000. Finally, Regent Peak Wealth Advisors LLC bought a new position in Realty Income in the fourth quarter valued at approximately $34,000. 73.10% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have weighed in on O. Morgan Stanley increased their target price on shares of Realty Income from $64.00 to $67.00 and gave the stock an “overweight” rating in a report on Tuesday, December 15th. Mizuho reiterated a “neutral” rating and issued a $62.00 target price on shares of Realty Income in a report on Wednesday, March 10th. The Goldman Sachs Group began coverage on shares of Realty Income in a report on Friday, January 22nd. They issued a “conviction-buy” rating on the stock. Finally, Robert W. Baird began coverage on shares of Realty Income in a report on Wednesday, December 16th. They issued a “neutral” rating on the stock. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $67.80.
Realty Income (NYSE:O) last announced its earnings results on Sunday, February 21st. The real estate investment trust reported $0.33 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.50). The company had revenue of $418.10 million for the quarter, compared to the consensus estimate of $398.27 million. Realty Income had a return on equity of 3.96% and a net margin of 24.94%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 EPS. Analysts expect that Realty Income Co. will post 3.4 earnings per share for the current year.
The business also recently announced a monthly dividend, which will be paid on Thursday, April 15th. Investors of record on Thursday, April 1st will be issued a dividend of $0.235 per share. This is an increase from Realty Income’s previous monthly dividend of $0.23. The ex-dividend date of this dividend is Wednesday, March 31st. This represents a $2.82 annualized dividend and a dividend yield of 4.30%. Realty Income’s payout ratio is presently 84.94%.
About Realty Income
Realty Income, The Monthly Dividend Company<sup>Â®</sup>, 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 commercial tenants.
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