Kovack Advisors Inc. Acquires 12,985 Shares of Realty Income Co. (NYSE:O)

Kovack Advisors Inc. grew its holdings in Realty Income Co. (NYSE:O) by 85.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,256 shares of the real estate investment trust’s stock after buying an additional 12,985 shares during the period. Kovack Advisors Inc.’s holdings in Realty Income were worth $1,529,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. American National Bank acquired a new position in Realty Income in the 4th quarter valued at about $25,000. Vima LLC bought a new stake in shares of Realty Income during the fourth quarter worth approximately $25,000. Baystate Wealth Management LLC grew its position in shares of 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 valued at $28,000 after purchasing an additional 190 shares during the last quarter. CVA Family Office LLC bought a new position in shares of Realty Income during the fourth quarter worth approximately $29,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Realty Income during the 1st quarter worth approximately $27,000. 70.81% of the stock is currently owned by institutional investors.

Realty Income Stock Performance

Shares of NYSE:O opened at $52.45 on Friday. Realty Income Co. has a 1 year low of $45.03 and a 1 year high of $64.18. The stock has a market capitalization of $45.67 billion, a price-to-earnings ratio of 48.56, a price-to-earnings-growth ratio of 4.56 and a beta of 0.96. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.83 and a quick ratio of 1.83. The company’s 50 day simple moving average is $53.57 and its 200 day simple moving average is $54.02.

Realty Income (NYSE:O) last issued its quarterly earnings results 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 business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the business posted $0.98 EPS. The company’s revenue for the quarter was up 33.5% on a year-over-year basis. As a group, research analysts predict that Realty Income Co. will post 4.2 EPS for the current fiscal year.

Realty Income Increases Dividend

The business also recently announced a jul 24 dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be issued a $0.263 dividend. The ex-dividend date 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 dividend payout ratio is 292.59%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on O. Scotiabank upped their price objective on Realty Income from $54.00 to $56.00 and gave the company a “sector perform” rating in a report on Thursday, May 16th. UBS Group decreased their price target 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. Mizuho lifted their price objective on shares of Realty Income from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Finally, KeyCorp assumed coverage on shares of Realty Income in a research report on Wednesday, June 12th. They set a “sector weight” rating on the stock. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Realty Income has a consensus rating of “Hold” and a consensus price target of $61.35.

Insider Activity

In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $54.23, for a total value of $271,150.00. Following the sale, the director now owns 6,257 shares in the company, valued at $339,317.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.10% of the stock is currently owned by corporate insiders.

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.