Frank Rimerman Advisors LLC Takes Position in Realty Income Co. (NYSE:O)

Frank Rimerman Advisors LLC acquired a new position in Realty Income Co. (NYSE:O) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 37,438 shares of the real estate investment trust’s stock, valued at approximately $1,977,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in O. Holderness Investments Co. bought a new position in Realty Income during the second quarter worth about $232,000. ProShare Advisors LLC boosted its holdings in Realty Income by 7.2% in the 2nd quarter. ProShare Advisors LLC now owns 3,463,345 shares of the real estate investment trust’s stock worth $182,934,000 after buying an additional 233,850 shares during the period. Profund Advisors LLC grew its stake in Realty Income by 7.5% in the 2nd quarter. Profund Advisors LLC now owns 13,488 shares of the real estate investment trust’s stock valued at $712,000 after buying an additional 946 shares in the last quarter. Legacy Financial Advisors Inc. raised its holdings in Realty Income by 1.8% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 12,842 shares of the real estate investment trust’s stock valued at $678,000 after acquiring an additional 222 shares during the period. Finally, Ensign Peak Advisors Inc lifted its position in shares of Realty Income by 11.6% during the second quarter. Ensign Peak Advisors Inc now owns 44,128 shares of the real estate investment trust’s stock worth $2,331,000 after acquiring an additional 4,570 shares in the last quarter. 70.81% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Realty Income Price Performance

O opened at $61.63 on Friday. The stock 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 current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.66. Realty Income Co. has a 12-month low of $45.03 and a 12-month high of $63.39. The stock has a 50-day moving average price of $60.28 and a 200-day moving average price of $55.69.

Realty Income (NYSE:O) last issued its earnings results on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.07). The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Realty Income had a return on equity of 3.27% and a net margin of 17.89%. The firm’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.00 EPS. Equities analysts predict that Realty Income Co. will post 3.93 earnings per share for the current fiscal year.

Realty Income Increases Dividend

The firm also recently announced 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 of this dividend is Tuesday, October 1st. This represents a dividend yield of 5%. This is a positive change from Realty Income’s previous oct 24 dividend of $0.26. Realty Income’s dividend payout ratio (DPR) is currently 292.59%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on O shares. Wells Fargo & Company lifted their price target on Realty Income from $57.00 to $62.00 and gave the company an “equal weight” rating in a research report on Monday, August 26th. JPMorgan Chase & Co. upped their price target on Realty Income from $60.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd. Robert W. Baird raised their price objective on shares of Realty Income from $57.00 to $58.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Royal Bank of Canada boosted their price objective on shares of Realty Income from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, KeyCorp began coverage on shares of Realty Income in a research note on Wednesday, June 12th. They issued a “sector weight” rating on the stock. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $62.59.

Realty Income 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.