ProVise Management Group LLC Acquires Shares of 3,662 Realty Income Co. (NYSE:O)

ProVise Management Group LLC bought a new position in shares of Realty Income Co. (NYSE:O) in the fourth quarter, Holdings Channel reports. The firm bought 3,662 shares of the real estate investment trust’s stock, valued at approximately $210,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Orion Portfolio Solutions LLC increased its stake in shares of Realty Income by 61.8% in the 4th quarter. Orion Portfolio Solutions LLC now owns 14,080 shares of the real estate investment trust’s stock valued at $837,000 after acquiring an additional 5,379 shares during the last quarter. TCW Group Inc. acquired a new position in Realty Income during the fourth quarter valued at approximately $776,000. SageView Advisory Group LLC bought a new stake in Realty Income in the fourth quarter valued at approximately $559,000. US Bancorp DE raised its holdings in Realty Income by 4.9% in the fourth quarter. US Bancorp DE now owns 120,080 shares of the real estate investment trust’s stock worth $6,895,000 after purchasing an additional 5,571 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of Realty Income by 9.1% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 468,460 shares of the real estate investment trust’s stock worth $26,899,000 after purchasing an additional 38,938 shares in the last quarter. Institutional investors own 70.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. BMO Capital Markets initiated coverage on shares of Realty Income in a research report on Tuesday, February 13th. They issued a “market perform” rating and a $57.00 price objective for the company. StockNews.com raised Realty Income from a “sell” rating to a “hold” rating in a research report on Thursday, February 8th. Stifel Nicolaus decreased their price objective on Realty Income from $67.75 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Mizuho increased their target price on Realty Income from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Finally, Scotiabank lifted their price target on shares of Realty Income from $54.00 to $56.00 and gave the company a “sector perform” rating in a research note on Thursday, May 16th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $61.38.

Realty Income Stock Down 0.2 %

Shares of NYSE:O traded down $0.13 during midday trading on Friday, reaching $52.18. The company had a trading volume of 4,660,522 shares, compared to its average volume of 5,748,535. The business’s 50 day moving average price is $53.48 and its 200 day moving average price is $54.18. Realty Income Co. has a 1-year low of $45.03 and a 1-year high of $64.18. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.65. The stock has a market cap of $45.44 billion, a PE ratio of 48.31, a P/E/G ratio of 4.56 and a beta of 0.92.

Realty Income (NYSE:O) last posted its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.87). The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.15 billion. Realty Income had a return on equity of 3.26% and a net margin of 17.74%. The firm’s revenue for the quarter was up 33.5% compared to the same quarter last year. During the same period last year, the firm earned $0.98 EPS. Research analysts forecast that Realty Income Co. will post 4.19 EPS for the current fiscal year.

Realty Income Increases Dividend

The company also recently declared a jun 24 dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, June 3rd will be paid a $0.2625 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a yield of 5.7%. This is a boost from Realty Income’s previous jun 24 dividend of $0.26. Realty Income’s dividend payout ratio (DPR) is currently 285.19%.

Insider Activity

In related news, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction on Tuesday, April 9th. The stock was 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 approximately $339,317.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.10% of the company’s stock.

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.