Global Assets Advisory LLC Takes Position in Realty Income Corporation $O

Key Points

• Global Assets Advisory LLC purchased a new position in Realty Income Corporation, acquiring 4,421 shares valued at approximately $256,000 during the 2nd quarter of 2023.
• Realty Income's recent dividend increase brings the monthly payout to $0.2695, reflecting a yield of 5.4% and a significant payout ratio of 313.59%.
• Analysts have mixed ratings for Realty Income, with targets ranging from $62.00 to $66.00, and a consensus rating of "Hold" according to recent reports.

Global Assets Advisory LLC bought a new position in Realty Income Corporation (NYSE:O - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,421 shares of the real estate investment trust's stock, valued at approximately $256,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in O. Compagnie Lombard Odier SCmA bought a new stake in Realty Income in the 2nd quarter worth $25,000. Keystone Global Partners LLC purchased a new stake in shares of Realty Income during the first quarter worth about $26,000. PSI Advisors LLC grew its stake in shares of Realty Income by 78.3% in the first quarter. PSI Advisors LLC now owns 574 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 252 shares during the last quarter. FSC Wealth Advisors LLC grew its stake in shares of Realty Income by 288.0% in the first quarter. FSC Wealth Advisors LLC now owns 613 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 455 shares during the last quarter. Finally, Hilltop National Bank purchased a new position in Realty Income during the 2nd quarter valued at about $36,000. 70.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Realty Income

In other Realty Income news, Director Mary Hogan Preusse sold 11,000 shares of Realty Income stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $60.43, for a total transaction of $664,730.00. Following the completion of the transaction, the director owned 19,211 shares in the company, valued at approximately $1,160,920.73. The trade was a 36.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on O. Cantor Fitzgerald started coverage on Realty Income in a report on Wednesday, October 1st. They issued a "neutral" rating and a $64.00 price objective for the company. UBS Group raised their price target on Realty Income from $62.00 to $66.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. Scotiabank lifted their price target on shares of Realty Income from $58.00 to $60.00 and gave the company a "sector perform" rating in a report on Thursday, August 28th. Weiss Ratings restated a "hold (c)" rating on shares of Realty Income in a report on Saturday, September 27th. Finally, Mizuho raised their target price on shares of Realty Income from $60.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday, September 11th. Three equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $62.25.

Realty Income Stock Performance

Shares of Realty Income stock opened at $59.90 on Tuesday. Realty Income Corporation has a 12 month low of $50.71 and a 12 month high of $64.88. The firm has a market capitalization of $54.77 billion, a P/E ratio of 58.16, a P/E/G ratio of 4.62 and a beta of 0.78. 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 business has a fifty day simple moving average of $58.79 and a two-hundred day simple moving average of $57.41.

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 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the business earned $1.07 earnings per share. The firm's revenue was up 5.3% compared to the same quarter last year. On average, equities analysts forecast that Realty Income Corporation will post 4.19 earnings per share for the current fiscal year.

Realty Income Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be given a $0.2695 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. This is an increase from Realty Income's previous monthly dividend of $0.27. Realty Income's payout ratio is presently 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.

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