Empirical Financial Services LLC d.b.a. Empirical Wealth Management Cuts Position in Realty Income Corporation (NYSE:O)

Key Points

• Empirical Financial Services LLC significantly reduced its stake in Realty Income Corporation by 74.7%, leaving it with only 4,124 shares valued at approximately $239,000.
• Realty Income recently announced a $0.269 dividend to be paid on August 15th, with a dividend yield of 570.0% and a high dividend payout ratio of 293.64%.
• The company reported $1.06 earnings per share for the last quarter, aligning with analysts' expectations, along with a 9.5% year-over-year revenue increase of $1.31 billion.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management reduced its position in shares of Realty Income Corporation (NYSE:O - Free Report) by 74.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,124 shares of the real estate investment trust's stock after selling 12,167 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Realty Income were worth $239,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Northern Trust Corp increased its holdings in shares of Realty Income by 41.2% in the 4th quarter. Northern Trust Corp now owns 13,139,719 shares of the real estate investment trust's stock valued at $701,792,000 after acquiring an additional 3,834,403 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Realty Income by 2.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,318,686 shares of the real estate investment trust's stock valued at $230,663,000 after acquiring an additional 110,694 shares during the period. Royal Bank of Canada increased its holdings in shares of Realty Income by 6.5% in the 4th quarter. Royal Bank of Canada now owns 3,174,507 shares of the real estate investment trust's stock valued at $169,551,000 after acquiring an additional 193,013 shares during the period. Lasalle Investment Management Securities LLC increased its holdings in shares of Realty Income by 8.6% in the 4th quarter. Lasalle Investment Management Securities LLC now owns 2,432,712 shares of the real estate investment trust's stock valued at $129,931,000 after acquiring an additional 192,749 shares during the period. Finally, Federated Hermes Inc. increased its holdings in shares of Realty Income by 29.6% in the 1st quarter. Federated Hermes Inc. now owns 2,359,129 shares of the real estate investment trust's stock valued at $136,853,000 after acquiring an additional 538,999 shares during the period. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Wedbush reiterated a "neutral" rating and issued a $61.00 price target on shares of Realty Income in a report on Wednesday, May 7th. Barclays restated an "overweight" rating on shares of Realty Income in a research note on Tuesday, April 22nd. UBS Group dropped their target price on Realty Income from $64.00 to $62.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. JPMorgan Chase & Co. dropped their target price on Realty Income from $64.00 to $61.00 and set a "neutral" rating on the stock in a research note on Monday, May 5th. Finally, Scotiabank boosted their target price on Realty Income from $57.00 to $58.00 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $61.36.

Realty Income Stock Performance

O traded down $0.23 on Thursday, reaching $56.68. 1,218,027 shares of the stock were exchanged, compared to its average volume of 5,534,356. The company's 50-day moving average price is $57.18 and its 200 day moving average price is $56.39. Realty Income Corporation has a fifty-two week low of $50.71 and a fifty-two week high of $64.88. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.74 and a quick ratio of 1.74. The firm has a market capitalization of $51.19 billion, a PE ratio of 51.39, a PEG ratio of 4.01 and a beta of 0.76.

Realty Income (NYSE:O - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $1.05 EPS for the quarter, missing analysts' consensus estimates of $1.06 by ($0.01). The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. Realty Income had a return on equity of 2.51% and a net margin of 18.15%. The business's revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.07 EPS. As a group, sell-side analysts forecast that Realty Income Corporation will post 4.19 EPS for the current fiscal year.

Realty Income Dividend Announcement

The business also recently disclosed a aug 25 dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be issued a $0.269 dividend. This represents a dividend yield of 570.0%. The ex-dividend date of this dividend is Friday, August 1st. Realty Income's payout ratio is 293.64%.

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.