Abundance Wealth Counselors Purchases 5,389 Shares of Realty Income Corporation $O

Key Points

• Abundance Wealth Counselors increased its stake in Realty Income Corporation by 32.4% during the 2nd quarter, acquiring an additional 5,389 shares, bringing its total holdings to 22,044 shares valued at approximately $1.27 million.
• Realty Income recently announced a monthly dividend raise to $0.2695, with an annualized yield of 5.4%, set to be paid on October 15th.
• Analyst ratings for Realty Income show a consensus of "Hold", with an average price target of $62.25, reflecting varying assessments from multiple research firms.

Abundance Wealth Counselors increased its position in Realty Income Corporation (NYSE:O - Free Report) by 32.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,044 shares of the real estate investment trust's stock after purchasing an additional 5,389 shares during the quarter. Abundance Wealth Counselors' holdings in Realty Income were worth $1,270,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of O. Brighton Jones LLC grew its stake in Realty Income by 11.2% in the fourth quarter. Brighton Jones LLC now owns 6,101 shares of the real estate investment trust's stock worth $326,000 after purchasing an additional 615 shares in the last quarter. Bison Wealth LLC purchased a new stake in Realty Income during the fourth quarter worth $571,000. Merit Financial Group LLC lifted its holdings in Realty Income by 35.2% during the first quarter. Merit Financial Group LLC now owns 22,252 shares of the real estate investment trust's stock worth $1,291,000 after buying an additional 5,793 shares during the period. Portside Wealth Group LLC lifted its holdings in Realty Income by 16.0% during the first quarter. Portside Wealth Group LLC now owns 11,388 shares of the real estate investment trust's stock worth $608,000 after buying an additional 1,571 shares during the period. Finally, Channel Wealth LLC lifted its holdings in Realty Income by 108.5% during the first quarter. Channel Wealth LLC now owns 13,722 shares of the real estate investment trust's stock worth $796,000 after buying an additional 7,142 shares during the period. Institutional investors own 70.81% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on O. Cantor Fitzgerald began coverage on Realty Income in a report on Wednesday. They set a "neutral" rating and a $64.00 target price for the company. Wolfe Research lowered Realty Income from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Barclays upped their target price on Realty Income from $58.00 to $59.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 20th. Evercore ISI began coverage on Realty Income in a report on Wednesday. They set an "in-line" rating and a $62.00 target price for the company. Finally, UBS Group upped their target price on Realty Income from $62.00 to $66.00 and gave the stock a "buy" rating in a report on Friday, August 15th. Three research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $62.25.

Realty Income Stock Performance

Shares of O opened at $60.08 on Friday. Realty Income Corporation has a 12 month low of $50.71 and a 12 month high of $64.88. The stock has a fifty day moving average price of $58.68 and a 200-day moving average price of $57.34. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.72. The firm has a market cap of $54.93 billion, a PE ratio of 58.33, a P/E/G ratio of 4.62 and a beta of 0.78.

Realty Income (NYSE:O - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $1.05 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.01). Realty Income had a net margin of 16.77% and a return on equity of 2.34%. The business had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.33 billion. During the same quarter in the prior year, the company posted $1.07 EPS. The business's revenue for the quarter was up 5.3% on a year-over-year basis. Equities research analysts predict that Realty Income Corporation will post 4.19 earnings per share for the current fiscal year.

Realty Income Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be paid a $0.2695 dividend. This is a positive change from Realty Income's previous monthly dividend of $0.27. The ex-dividend date is Wednesday, October 1st. This represents a c) dividend on an annualized basis and a yield of 5.4%. Realty Income's dividend payout ratio (DPR) is 313.59%.

Insider Transactions at Realty Income

In related news, Director Mary Hogan Preusse sold 11,000 shares of the firm's stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $60.43, for a total value of $664,730.00. Following the completion of the transaction, the director owned 19,211 shares in the company, valued at $1,160,920.73. This trade represents a 36.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.10% of the stock is owned by company insiders.

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.

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