Summit Financial LLC Increases Stake in Realty Income Co. (NYSE:O)

Summit Financial LLC boosted its stake in shares of Realty Income Co. (NYSE:O) by 259.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 33,811 shares of the real estate investment trust’s stock after purchasing an additional 24,413 shares during the period. Summit Financial LLC’s holdings in Realty Income were worth $1,806,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Lee Danner & Bass Inc. purchased a new position in shares of Realty Income in the fourth quarter worth about $28,000. Hopwood Financial Services Inc. purchased a new position in shares of Realty Income during the fourth quarter worth $29,000. Sierra Ocean LLC acquired a new position in Realty Income during the fourth quarter valued at $32,000. Millstone Evans Group LLC purchased a new stake in Realty Income in the fourth quarter valued at $34,000. Finally, BankPlus Trust Department acquired a new stake in Realty Income during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 70.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on O shares. Scotiabank decreased their price objective on Realty Income from $59.00 to $57.00 and set a “sector perform” rating for the company in a report on Friday, February 28th. Royal Bank of Canada decreased their price target on Realty Income from $62.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. BNP Paribas lowered shares of Realty Income from an “outperform” rating to a “neutral” rating and set a $61.00 target price for the company. in a report on Tuesday, February 25th. Mizuho decreased their target price on shares of Realty Income from $60.00 to $54.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Realty Income in a report on Wednesday, December 11th. They issued a “hold” rating and a $62.00 price objective for the company. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $62.04.

Realty Income Trading Down 1.5 %

Shares of Realty Income stock opened at $57.15 on Wednesday. Realty Income Co. has a twelve month low of $50.65 and a twelve month high of $64.88. The firm’s 50-day moving average price is $55.90 and its 200 day moving average price is $57.17. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $50.96 billion, a PE ratio of 54.43, a P/E/G ratio of 2.10 and a beta of 1.00.

Realty Income (NYSE:O) last issued its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.01). Realty Income had a return on equity of 2.35% and a net margin of 17.57%. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.28 billion. On average, sell-side analysts predict that Realty Income Co. will post 4.19 EPS for the current fiscal year.

Realty Income Increases Dividend

The firm also recently announced a apr 25 dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a $0.2685 dividend. This represents a dividend yield of 5.7%. This is a boost from Realty Income’s previous apr 25 dividend of $0.27. The ex-dividend date of this dividend is Tuesday, April 1st. Realty Income’s dividend payout ratio is 328.57%.

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.