ProVise Management Group LLC Decreases Stake in Realty Income Co. (NYSE:O)

ProVise Management Group LLC reduced its holdings in Realty Income Co. (NYSE:O) by 41.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor 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 reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vima LLC acquired a new stake in Realty Income during the fourth quarter worth about $25,000. Pacifica Partners Inc. increased its position in Realty Income by 444.4% during the second quarter. Pacifica Partners Inc. now owns 490 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 400 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in Realty Income during the first quarter worth about $27,000. Bell Investment Advisors Inc increased its position in Realty Income by 69.6% during the first quarter. Bell Investment Advisors Inc now owns 529 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 217 shares during the last quarter. Finally, Able Wealth Management LLC acquired a new stake in Realty Income during the fourth quarter worth about $32,000. 70.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on O. KeyCorp began coverage on shares of Realty Income in a research report on Wednesday, June 12th. They set a “sector weight” rating for the company. Stifel Nicolaus lifted their price target on shares of Realty Income from $67.50 to $70.25 and gave the company a “buy” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. lifted their price target on shares of 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 lifted their price target 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. Finally, Wedbush began coverage on shares of Realty Income in a research report on Monday, August 19th. They set a “neutral” rating and a $64.00 price target for the company. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Realty Income presently has an average rating of “Hold” and an average price target of $62.59.

Insider Transactions at Realty Income

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

Realty Income Price Performance

O stock opened at $61.63 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.39 and a quick ratio of 1.39. The firm has a market capitalization of $53.67 billion, a P/E ratio of 57.06, a P/E/G ratio of 4.65 and a beta of 0.99. The business’s 50-day moving average is $60.28 and its two-hundred day moving average is $55.67. Realty Income Co. has a 1 year low of $45.03 and a 1 year high of $63.39.

Realty Income (NYSE:O) last posted 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). The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.22 billion. Realty Income had a net margin of 17.89% and a return on equity of 3.27%. Realty Income’s revenue for the quarter was up 31.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.00 EPS. Analysts anticipate 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. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.2635 per share. This represents a dividend yield of 5%. The ex-dividend date is Tuesday, October 1st. This is a positive change from Realty Income’s previous oct 24 dividend of $0.26. Realty Income’s dividend payout ratio (DPR) is 292.59%.

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.