The Vanguard Group, Inc. recently announced the acquisition of new stake in Realty Income Corporation (NYSE:O). The institutional investor has increased its shareholding in the Real Estate company by 2.24% to 97.64 million shares with purchase of 2.14 million shares. This fresh investment now brings its stake to 14.78% valued currently at $6.14 billion. In addition, SSgA Funds Management, Inc. raised its holdings by 3.17 million to 50.21 million shares. And Cohen & Steers Capital Management has lifted its position by 15.22% or 5.1 million shares – to 38.59 million shares.
With over 3.43 million Realty Income Corporation (O) shares trading Friday and a closing price of $59.97 on the day, the dollar volume was approximately $205.41 million. The shares have shown a negative half year performance of -6.06% and its price on 05/19/23 lost nearly -0.17%. Currently, there are 660.46M common shares owned by the public and among those 626.41M shares have been available to trade.
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Insiders at the company have transacted a total of 37 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 15 of these insider trades were purchases, accounting for 203,398 shares. Insider sales of the common stock occurred on 22 occasions, with total insider shares sold totaling 119,181 shares.
The top 3 mutual fund holders in Realty Income Corporation are Vanguard Real Estate Index Fund, Vanguard Total Stock Market ETF, and Vanguard Mid Cap Index Fund. Vanguard Real Estate Index Fund owns 27.63 million shares of the company’s stock, all valued at over $1.74 billion. The company sold -0.24 million shares recently to bring their total holdings to about 4.18% of the shares outstanding. Vanguard Total Stock Market ETF bought 1.16 million shares to see its total holdings expand to 20.45 million shares valued at over $1.29 billion and representing 3.10% of the shares outstanding. Vanguard Mid Cap Index Fund bought 0.81 million shares to bring its total holdings to over 15.43 million shares at a value of $969.5 million. Vanguard Mid Cap Index Fund now owns shares totaling to 2.34% of the shares outstanding.
Shares of Realty Income Corporation (NYSE: O) opened at $60.31, up $0.24 from a prior closing price of $60.07. However, the script later moved the day high at 60.74, down -0.17%. The company’s stock has a 5-day price change of -3.32% and -9.30% over the past three months. O shares are trading -5.45% year to date (YTD), with the 12-month market performance down to -11.23% lower. It has a 12-month low price of $55.50 and touched a high of $75.11 over the same period. O has an average intraday trading volume of 3.66 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.00%, -3.06%, and -6.52% respectively.
Institutional ownership of Realty Income Corporation (NYSE: O) shares accounts for 83.00% of the company’s 660.46M shares outstanding. Mutual fund holders own 38.79%, while other institutional holders and individual stakeholders account for 45.10% and 0.43% respectively.
It has a market capitalization of $40.44B and a beta (3y monthly) value of 0.80. The stock’s trailing 12-month PE ratio is 42.08, while the earnings-per-share (ttm) stands at $1.43. The company has a PEG of 1.86 and the debt-to-equity ratio at 0.65. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.58% over the week and 1.49% over the month.
Analysts forecast that Realty Income Corporation (O) will achieve an EPS of $0.34 for the current quarter, $0.33 for the next quarter and $1.49 for 2024. The lowest estimate earnings-per-share for the quarter is $0.32 while analysts give the company a high EPS estimate of $0.36. Comparatively, EPS for the current quarter was $0.37 a year ago. Earnings per share for the fiscal year are expected to increase by 63.90%, and 10.15% over the next financial year. EPS should grow at an annualized rate of 22.62% over the next five years, compared to 5.20% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 19 brokerage firm advisors rate Realty Income Corporation (O) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 9 of the 19 advise that investors “hold,” and 0 rated it as a “Sell.”
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