Canal Capital Management LLC Cuts Stock Holdings in Realty Income Co. (NYSE:O)

Canal Capital Management LLC cut its holdings in shares of Realty Income Co. (NYSE:O - Free Report) by 22.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 85,875 shares of the real estate investment trust's stock after selling 25,018 shares during the quarter. Canal Capital Management LLC's holdings in Realty Income were worth $4,587,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of O. Lee Danner & Bass Inc. acquired a new position in Realty Income during the 4th quarter worth about $28,000. Hopwood Financial Services Inc. acquired a new stake in shares of Realty Income during the fourth quarter worth about $29,000. Sierra Ocean LLC purchased a new position in shares of Realty Income in the fourth quarter valued at approximately $32,000. Millstone Evans Group LLC acquired a new position in shares of Realty Income in the fourth quarter valued at approximately $34,000. Finally, BankPlus Trust Department purchased a new stake in Realty Income during the 4th quarter worth approximately $37,000. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Realty Income Stock Performance

NYSE:O traded down $0.12 during trading hours on Friday, reaching $57.03. 2,272,429 shares of the company's stock were exchanged, compared to its average volume of 5,702,382. Realty Income Co. has a 1-year low of $50.71 and a 1-year high of $64.88. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $50.86 billion, a price-to-earnings ratio of 54.31, a P/E/G ratio of 2.10 and a beta of 0.79. The company has a 50-day moving average of $56.47 and a 200 day moving average of $56.44.

Realty Income (NYSE:O - Get Free Report) last announced its earnings results on Monday, February 24th. The real estate investment trust reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.01). The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.28 billion. Realty Income had a return on equity of 2.35% and a net margin of 17.57%. Research analysts anticipate that Realty Income Co. will post 4.19 EPS for the current year.

Realty Income Announces Dividend

The business also recently declared a may 25 dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be paid a dividend of $0.2685 per share. This represents a dividend yield of 6%. The ex-dividend date of this dividend is Thursday, May 1st. Realty Income's dividend payout ratio (DPR) is presently 328.57%.

Analyst Ratings Changes

A number of analysts have recently weighed in on O shares. Barclays reaffirmed an "overweight" rating on shares of Realty Income in a research report on Tuesday. 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 research note on Friday, February 28th. Mizuho upped their target price on shares of Realty Income from $54.00 to $59.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Stifel Nicolaus dropped their price objective on shares of Realty Income from $70.00 to $66.50 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada decreased their price objective on shares of Realty Income from $62.00 to $60.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $62.35.

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.