Fulton Bank N.A. Acquires 4,927 Shares of Realty Income Corporation $O

Key Points

• Fulton Bank N.A. increased its stake in Realty Income Corporation by 16.0% during the second quarter, acquiring 4,927 shares and now holding a total of 35,800 shares valued at approximately $2.06 million.
• Realty Income reported earnings of $1.05 per share for the last quarter, missing the consensus estimate by $0.01, while revenue increased by 5.3% year-over-year.
• The company has declared a monthly dividend of $0.2695, reflecting a slight increase from its previous dividend, with a yield of 5.4%.

Fulton Bank N.A. lifted its stake in shares of Realty Income Corporation (NYSE:O - Free Report) by 16.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,800 shares of the real estate investment trust's stock after buying an additional 4,927 shares during the period. Fulton Bank N.A.'s holdings in Realty Income were worth $2,062,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC boosted its position in shares of Realty Income by 2.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 274,770 shares of the real estate investment trust's stock valued at $15,849,000 after buying an additional 5,778 shares during the last quarter. Atticus Wealth Management LLC lifted its holdings in Realty Income by 1,036.9% during the second quarter. Atticus Wealth Management LLC now owns 5,878 shares of the real estate investment trust's stock worth $339,000 after acquiring an additional 5,361 shares during the period. Baader Bank Aktiengesellschaft lifted its holdings in Realty Income by 143.0% during the second quarter. Baader Bank Aktiengesellschaft now owns 15,606 shares of the real estate investment trust's stock worth $899,000 after acquiring an additional 9,183 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Realty Income by 6.0% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 307,919 shares of the real estate investment trust's stock worth $17,739,000 after acquiring an additional 17,298 shares during the period. Finally, Focus Financial Network Inc. lifted its holdings in Realty Income by 26.0% during the second quarter. Focus Financial Network Inc. now owns 13,423 shares of the real estate investment trust's stock worth $773,000 after acquiring an additional 2,766 shares during the period. Hedge funds and other institutional investors own 70.81% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on O shares. Barclays lifted their price target on Realty Income from $58.00 to $59.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 20th. Mizuho lifted their price target on Realty Income from $60.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, September 11th. Scotiabank lifted their price target on Realty Income from $58.00 to $60.00 and gave the stock a "sector perform" rating in a report on Thursday, August 28th. UBS Group lifted their price target on Realty Income from $62.00 to $66.00 and gave the stock a "buy" rating in a report on Friday, August 15th. Finally, Wolfe Research lowered Realty Income from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Three analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, Realty Income presently has an average rating of "Hold" and a consensus price target of $62.36.

Realty Income Stock Performance

Shares of NYSE O traded up $0.10 during trading on Friday, reaching $59.21. 12,675,505 shares of the stock traded hands, compared to its average volume of 5,134,880. Realty Income Corporation has a 52-week low of $50.71 and a 52-week high of $64.88. 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 company has a 50-day moving average of $58.13 and a 200-day moving average of $57.16. The stock has a market capitalization of $54.14 billion, a P/E ratio of 57.49, a price-to-earnings-growth ratio of 4.52 and a beta of 0.77.

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 analysts' expectations of $1.33 billion. Realty Income had a net margin of 16.77% and a return on equity of 2.34%. The firm's quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.07 EPS. Analysts forecast that Realty Income Corporation will post 4.19 EPS for the current fiscal year.

Realty Income Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be issued a dividend of $0.2695 per share. This is a positive change from Realty Income's previous monthly dividend of $0.27. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a c) dividend on an annualized basis and a yield of 5.5%. Realty Income's payout ratio is currently 313.59%.

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.