Harrell Investment Partners LLC Has $4.67 Million Holdings in Realty Income Corporation $O

Key Points

• Harrell Investment Partners LLC increased its stake in Realty Income Corporation by 13.9% during the 2nd quarter, now holding approximately $4.67 million worth of shares.
• Realty Income recently declared a monthly dividend of $0.2695, showing an increase from the previous amount and representing an annual yield of 5.4%.
• Analyst ratings for Realty Income remain mixed, with three analysts giving it a Buy rating and nine issuing a Hold rating, alongside an average target price of $62.36.

Harrell Investment Partners LLC raised its stake in Realty Income Corporation (NYSE:O - Free Report) by 13.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,991 shares of the real estate investment trust's stock after acquiring an additional 9,880 shares during the quarter. Realty Income comprises approximately 1.2% of Harrell Investment Partners LLC's investment portfolio, making the stock its 28th biggest holding. Harrell Investment Partners LLC's holdings in Realty Income were worth $4,666,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in O. Compagnie Lombard Odier SCmA acquired a new stake in Realty Income in the 2nd quarter valued at about $25,000. Keystone Global Partners LLC acquired a new stake in Realty Income in the 1st quarter valued at about $26,000. PSI Advisors LLC increased its position 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 acquiring an additional 252 shares in the last quarter. FSC Wealth Advisors LLC lifted its position in 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 during the period. Finally, CBIZ Investment Advisory Services LLC boosted its stake in shares of Realty Income by 87.6% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 649 shares of the real estate investment trust's stock valued at $38,000 after purchasing an additional 303 shares during the last quarter. Institutional investors and hedge funds own 70.81% of the company's stock.

Realty Income Stock Performance

Shares of NYSE:O opened at $60.03 on Thursday. The company has a market capitalization of $54.89 billion, a price-to-earnings ratio of 58.28, a P/E/G ratio of 4.55 and a beta of 0.77. The firm's 50 day simple moving average is $58.30 and its 200 day simple moving average is $57.20. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.85 and a quick ratio of 1.85. Realty Income Corporation has a fifty-two week low of $50.71 and a fifty-two week high of $64.88.

Realty Income (NYSE:O - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $1.05 earnings per share for the quarter, missing analysts' consensus estimates of $1.06 by ($0.01). The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.33 billion. Realty Income had a net margin of 16.77% and a return on equity of 2.34%. The business's revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.07 earnings per share. As a group, sell-side analysts forecast that Realty Income Corporation will post 4.19 earnings per share for the current year.

Realty Income Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given a $0.2695 dividend. The ex-dividend date is Wednesday, October 1st. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. This is a positive change from Realty Income's previous monthly dividend of $0.27. Realty Income's dividend payout ratio is 313.59%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on O. 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. Wolfe Research lowered shares of Realty Income from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Barclays raised their target price on shares of Realty Income from $58.00 to $59.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 20th. UBS Group raised their target price on shares of Realty Income from $62.00 to $66.00 and gave the company a "buy" rating in a research note on Friday, August 15th. Finally, Mizuho raised their target price on shares of Realty Income from $60.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, September 11th. Three analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $62.36.

Realty Income Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.