Freestone Grove Partners LP Takes $1.69 Million Position in Realty Income Co. (NYSE:O)

Freestone Grove Partners LP bought a new position in Realty Income Co. (NYSE:O - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 31,663 shares of the real estate investment trust's stock, valued at approximately $1,691,000.

A number of other institutional investors also recently modified their holdings of the stock. Lee Danner & Bass Inc. purchased a new position in Realty Income in the fourth quarter valued at about $28,000. Hopwood Financial Services Inc. bought a new position in shares of Realty Income in the fourth quarter worth approximately $29,000. Sierra Ocean LLC purchased a new position in Realty Income in the fourth quarter worth $32,000. Millstone Evans Group LLC bought a new position in Realty Income during the fourth quarter valued at approximately $34,000. Finally, BankPlus Trust Department bought a new stake in Realty Income in the fourth quarter worth $37,000. Institutional investors and hedge funds own 70.81% of the company's stock.

Wall Street Analysts Forecast Growth

O has been the subject of several research analyst reports. Barclays reiterated an "overweight" rating on shares of Realty Income in a report on Tuesday, April 22nd. Stifel Nicolaus increased their price objective on shares of Realty Income from $65.50 to $68.00 and gave the company a "buy" rating in a research report on Tuesday. JPMorgan Chase & Co. dropped their price objective on Realty Income from $64.00 to $61.00 and set a "neutral" rating on the stock in a research report on Monday. BNP Paribas downgraded Realty Income from an "outperform" rating to a "neutral" rating and set a $61.00 price target on the stock. in a research note on Tuesday, February 25th. Finally, Scotiabank reduced their target price on shares of Realty Income from $59.00 to $57.00 and set a "sector perform" rating for the company in a report on Friday, February 28th. Ten equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Realty Income has an average rating of "Hold" and a consensus price target of $62.00.

Realty Income Price Performance

Shares of NYSE:O traded down $0.10 during midday trading on Tuesday, hitting $56.84. The company's stock had a trading volume of 3,600,783 shares, compared to its average volume of 5,196,891. Realty Income Co. has a 12-month low of $50.71 and a 12-month high of $64.88. The company has a market cap of $50.69 billion, a P/E ratio of 54.10, a price-to-earnings-growth ratio of 2.10 and a beta of 0.78. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.40 and a current ratio of 1.40. The business's 50 day simple moving average is $56.59 and its 200 day simple moving average is $56.08.

Realty Income (NYSE:O - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $1.06 earnings per share for the quarter, hitting analysts' consensus estimates of $1.06. Realty Income had a return on equity of 2.35% and a net margin of 17.57%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. The firm's revenue for the quarter was up 9.5% compared to the same quarter last year. On average, analysts forecast that Realty Income Co. will post 4.19 EPS for the current year.

Realty Income Dividend Announcement

The company also recently announced a may 25 dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be issued a $0.2685 dividend. The ex-dividend date is Thursday, May 1st. This represents a yield of 6%. Realty Income's payout ratio is 328.57%.

About Realty Income

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.