ProVise Management Group LLC Lowers Stock Position in Realty Income Co. (NYSE:O)

ProVise Management Group LLC lessened its holdings in Realty Income Co. (NYSE:O) by 41.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,563 shares of the real estate investment trust’s stock after selling 3,269 shares during the period. ProVise Management Group LLC’s holdings in Realty Income were worth $241,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of O. CWA Asset Management Group LLC bought a new position in shares of Realty Income during the 4th quarter worth approximately $379,000. Texas Permanent School Fund Corp raised its stake in shares of Realty Income by 15.0% during the 1st quarter. Texas Permanent School Fund Corp now owns 171,916 shares of the real estate investment trust’s stock worth $9,301,000 after acquiring an additional 22,440 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Realty Income by 4.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 1,343,159 shares of the real estate investment trust’s stock worth $77,124,000 after acquiring an additional 51,574 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Realty Income by 17.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,131,375 shares of the real estate investment trust’s stock worth $61,208,000 after acquiring an additional 171,166 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in shares of Realty Income by 5.4% during the 4th quarter. Treasurer of the State of North Carolina now owns 330,673 shares of the real estate investment trust’s stock worth $18,987,000 after acquiring an additional 16,831 shares in the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Realty Income Stock Up 1.5 %

NYSE:O opened at $61.63 on Friday. The company’s fifty day moving average price is $60.28 and its 200-day moving average price is $55.67. Realty Income Co. has a 1-year low of $45.03 and a 1-year high of $63.39. The firm has a market capitalization of $53.67 billion, a P/E ratio of 57.06, a PEG ratio of 4.65 and a beta of 0.99. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.39 and a quick ratio of 1.39.

Realty Income (NYSE:O) last announced its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). Realty Income had a return on equity of 3.27% and a net margin of 17.89%. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the company posted $1.00 earnings per share. The business’s quarterly revenue was up 31.4% on a year-over-year basis. As a group, equities research analysts anticipate that Realty Income Co. will post 3.93 EPS for the current year.

Realty Income Increases Dividend

The company also recently declared a oct 24 dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a dividend of $0.2635 per share. The ex-dividend date is Tuesday, October 1st. This is an increase from Realty Income’s previous oct 24 dividend of $0.26. This represents a yield of 5%. Realty Income’s dividend payout ratio is 292.59%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on O. Morgan Stanley reiterated an “equal weight” rating and set a $62.00 price objective on shares of Realty Income in a research note on Tuesday, August 6th. Robert W. Baird upped their price target on shares of Realty Income from $57.00 to $58.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. UBS Group upped their price target on shares of Realty Income from $61.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Stifel Nicolaus upped their price target on shares of Realty Income from $67.50 to $70.25 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Finally, KeyCorp started coverage on shares of Realty Income in a research note on Wednesday, June 12th. They set a “sector weight” rating on the stock. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $62.59.

Insider Buying and Selling

In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $60.77, for a total transaction of $303,850.00. Following the transaction, the director now directly owns 5,257 shares of the company’s stock, valued at $319,467.89. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $60.77, for a total transaction of $303,850.00. Following the transaction, the director now directly owns 5,257 shares of the company’s stock, valued at $319,467.89. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mary Hogan Preusse sold 1,712 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total transaction of $107,136.96. Following the transaction, the director now directly owns 26,579 shares in the company, valued at $1,663,313.82. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

About Realty Income

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.