Foster Victor Wealth Advisors LLC Acquires 4,550 Shares of Realty Income Corporation $O

Key Points

• Foster Victor Wealth Advisors LLC increased its stake in Realty Income Corporation by 3.9%, acquiring an additional 4,550 shares, bringing their total holdings to 121,337 shares valued at approximately $6.9 million.
• A recent dividend increase was announced, with a payment of $0.2695 scheduled for October 15, representing a yield of 5.4% and a positive change from the previous monthly dividend of $0.27.
• Realty Income's stock is currently rated with a consensus of "Hold" by analysts, with target prices ranging from $58 to $66, reflecting a strong interest from several institutional investors.

Foster Victor Wealth Advisors LLC grew its stake in shares of Realty Income Corporation (NYSE:O - Free Report) by 3.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 121,337 shares of the real estate investment trust's stock after acquiring an additional 4,550 shares during the period. Foster Victor Wealth Advisors LLC's holdings in Realty Income were worth $6,907,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Compagnie Lombard Odier SCmA purchased a new stake in shares of Realty Income in the second quarter worth about $25,000. Keystone Global Partners LLC purchased a new stake in Realty Income in the 1st quarter worth approximately $26,000. PSI Advisors LLC boosted its holdings in Realty Income by 78.3% in the 1st quarter. PSI Advisors LLC now owns 574 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 252 shares during the period. FSC Wealth Advisors LLC grew its position in shares of Realty Income by 288.0% during the 1st quarter. FSC Wealth Advisors LLC now owns 613 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 455 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC grew its position in Realty Income by 87.6% during the first quarter. CBIZ Investment Advisory Services LLC now owns 649 shares of the real estate investment trust's stock worth $38,000 after buying an additional 303 shares in the last quarter. Hedge funds and other institutional investors own 70.81% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on O shares. Scotiabank raised their target price on shares of Realty Income from $58.00 to $60.00 and gave the company a "sector perform" rating in a research note on Thursday, August 28th. Mizuho increased their price target 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. UBS Group raised their price objective on shares of Realty Income from $62.00 to $66.00 and gave the company a "buy" rating in a research report on Friday, August 15th. Barclays increased their target price on Realty Income from $58.00 to $59.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 20th. Finally, Wolfe Research lowered Realty Income from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Three research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Realty Income currently has a consensus rating of "Hold" and a consensus price target of $62.36.

Realty Income Trading Up 0.9%

Shares of Realty Income stock opened at $59.58 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.85 and a quick ratio of 1.85. The stock has a market capitalization of $54.47 billion, a PE ratio of 57.84, a P/E/G ratio of 4.51 and a beta of 0.77. Realty Income Corporation has a 1-year low of $50.71 and a 1-year high of $64.88. The company's fifty day simple moving average is $58.24 and its 200-day simple moving average is $57.18.

Realty Income (NYSE:O - Get Free Report) last announced its 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). Realty Income had a return on equity of 2.34% and a net margin of 16.77%.The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the business posted $1.07 earnings per share. Realty Income's revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities analysts anticipate that Realty Income Corporation will post 4.19 earnings per share for the current 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 issued a $0.2695 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a c) annualized dividend and a yield of 5.4%. This is a positive change from Realty Income's previous monthly dividend of $0.27. Realty Income's payout ratio is currently 313.59%.

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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