Realty Income Co. (NYSE:O) Shares Purchased by Griffin Asset Management Inc.

Griffin Asset Management Inc. raised its position in Realty Income Co. (NYSE:O) by 1.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,952 shares of the real estate investment trust’s stock after buying an additional 282 shares during the period. Griffin Asset Management Inc.’s holdings in Realty Income were worth $1,296,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. American National Bank bought a new position in Realty Income during the 4th quarter valued at $25,000. Vima LLC acquired a new stake in shares of Realty Income in the 4th quarter valued at about $25,000. Northwest Investment Counselors LLC bought a new position in shares of Realty Income during the first quarter worth about $27,000. Baystate Wealth Management LLC grew its stake in Realty Income by 62.7% in the fourth quarter. Baystate Wealth Management LLC now owns 493 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 190 shares in the last quarter. Finally, CVA Family Office LLC bought a new stake in Realty Income in the fourth quarter valued at about $29,000. 70.81% of the stock is owned by hedge funds and other institutional investors.

Realty Income Price Performance

Shares of O opened at $52.82 on Friday. Realty Income Co. has a one year low of $45.03 and a one year high of $64.18. The stock’s fifty day moving average is $53.63 and its 200-day moving average is $54.12. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.83 and a current ratio of 1.83. The firm has a market capitalization of $45.99 billion, a price-to-earnings ratio of 48.91, a price-to-earnings-growth ratio of 4.60 and a beta of 0.94.

Realty Income (NYSE:O) last posted its quarterly earnings data on Monday, May 6th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.87). Realty Income had a net margin of 17.74% and a return on equity of 3.26%. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the business earned $0.98 earnings per share. The company’s revenue was up 33.5% on a year-over-year basis. Equities analysts anticipate that Realty Income Co. will post 4.2 EPS for the current year.

Realty Income Increases Dividend

The firm also recently disclosed a jul 24 dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be paid a $0.263 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a dividend yield of 6%. This is a boost from Realty Income’s previous jul 24 dividend of $0.26. Realty Income’s payout ratio is currently 291.67%.

Insider Buying and Selling

In other news, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $54.23, for a total transaction of $271,150.00. Following the completion of the sale, the director now owns 6,257 shares in the company, valued at approximately $339,317.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

O has been the topic of a number of research reports. Scotiabank increased their target price on shares of Realty Income from $54.00 to $56.00 and gave the stock a “sector perform” rating in a report on Thursday, May 16th. UBS Group dropped their price objective on shares of Realty Income from $67.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. KeyCorp began coverage on Realty Income in a research note on Wednesday, June 12th. They issued a “sector weight” rating for the company. Finally, Mizuho increased their price target on Realty Income from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $61.35.

Realty Income Company Profile

Realty Income, The Monthly Dividend Company, is an S&P 500 company and member of the S&P 500 Dividend Aristocrats index. We invest in people and places to deliver dependable monthly dividends that increase over time. The company is structured as a real estate investment trust ("REIT"), and its monthly dividends are supported by the cash flow from over 15,450 real estate properties (including properties acquired in the Spirit merger in January 2024) primarily owned under long-term net lease agreements with commercial clients.