DAVENPORT & Co LLC Purchases 7,993 Shares of Realty Income Corporation $O

Key Points

• DAVENPORT & Co LLC increased its holdings in Realty Income Corporation by 6.6%, acquiring an additional 7,993 shares, bringing their total ownership to 129,494 shares valued at approximately $7.46 million.
• Analysts have mixed ratings for Realty Income, with Barclays setting a target price of $59 and UBS raising it to $66, while the average price target among analysts is $62.25, indicating a 'Hold' sentiment.
• Realty Income Corporation announced an increase in its monthly dividend to $0.2695, leading to an annual yield of 5.4%, despite a high payout ratio of 313.59%.

DAVENPORT & Co LLC grew its position in Realty Income Corporation (NYSE:O - Free Report) by 6.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 129,494 shares of the real estate investment trust's stock after purchasing an additional 7,993 shares during the quarter. DAVENPORT & Co LLC's holdings in Realty Income were worth $7,460,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Revisor Wealth Management LLC boosted its stake in shares of Realty Income by 2.3% in the 2nd quarter. Revisor Wealth Management LLC now owns 7,935 shares of the real estate investment trust's stock valued at $454,000 after purchasing an additional 178 shares during the last quarter. Pure Financial Advisors LLC boosted its stake in Realty Income by 3.5% during the second quarter. Pure Financial Advisors LLC now owns 5,519 shares of the real estate investment trust's stock worth $318,000 after acquiring an additional 185 shares in the last quarter. N.E.W. Advisory Services LLC boosted its stake in Realty Income by 1.2% during the first quarter. N.E.W. Advisory Services LLC now owns 15,503 shares of the real estate investment trust's stock worth $899,000 after acquiring an additional 186 shares in the last quarter. RB Capital Management LLC boosted its stake in Realty Income by 1.1% during the second quarter. RB Capital Management LLC now owns 16,596 shares of the real estate investment trust's stock worth $956,000 after acquiring an additional 187 shares in the last quarter. Finally, Associated Banc Corp boosted its stake in Realty Income by 1.9% during the first quarter. Associated Banc Corp now owns 10,252 shares of the real estate investment trust's stock worth $595,000 after acquiring an additional 192 shares in the last quarter. 70.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

O has been the topic of several research analyst reports. Barclays increased their target price on shares of Realty Income from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 20th. UBS Group increased their target price on shares of Realty Income from $62.00 to $66.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. Weiss Ratings reissued a "hold (c)" rating on shares of Realty Income in a research note on Saturday, September 27th. Evercore ISI began coverage on shares of Realty Income in a research note on Wednesday, October 1st. They set an "in-line" rating and a $62.00 target price on the stock. Finally, Mizuho upped their price objective on shares of Realty Income from $60.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, September 11th. Three investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, Realty Income presently has an average rating of "Hold" and an average price target of $62.25.

Realty Income Stock Performance

O opened at $59.65 on Wednesday. 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 company's fifty day moving average price is $58.83 and its two-hundred day moving average price is $57.42. Realty Income Corporation has a 1-year low of $50.71 and a 1-year high of $64.88. The company has a market cap of $54.54 billion, a price-to-earnings ratio of 57.91, a PEG ratio of 4.58 and a beta of 0.78.

Realty Income (NYSE:O - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.01). Realty Income had a return on equity of 2.34% and a net margin of 16.77%.The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the company posted $1.07 EPS. The business's quarterly revenue was up 5.3% on a year-over-year basis. On average, analysts expect that Realty Income Corporation will post 4.19 EPS 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. Stockholders of record on Wednesday, October 1st will be issued a $0.2695 dividend. This is an increase from Realty Income's previous monthly dividend of $0.27. This represents a c) annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Wednesday, October 1st. Realty Income's dividend payout ratio is currently 313.59%.

Insider Activity at Realty Income

In other news, Director Mary Hogan Preusse sold 11,000 shares of the stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $60.43, for a total value of $664,730.00. Following the completion of the sale, the director owned 19,211 shares in the company, valued at $1,160,920.73. This represents a 36.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.10% of the stock is currently owned by corporate insiders.

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.

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