HB Wealth Management LLC Increases Stake in Realty Income Corporation (NYSE:O)

Key Points

• HB Wealth Management LLC increased its stake in Realty Income Corporation by 34.0%, acquiring an additional 5,471 shares to bring its total holdings to 21,554 shares valued at $1,250,000.
• Realty Income announced a dividend of $0.269 per share, representing a yield of 5.7%, with the ex-dividend date set for August 1st.
• JPMorgan Chase & Co. and Wolfe Research recently downgraded Realty Income's target prices, giving it a consensus rating of "Hold" and a price target of $61.15.

HB Wealth Management LLC grew its position in Realty Income Corporation (NYSE:O - Free Report) by 34.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,554 shares of the real estate investment trust's stock after purchasing an additional 5,471 shares during the period. HB Wealth Management LLC's holdings in Realty Income were worth $1,250,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in shares of Realty Income by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 23,473,694 shares of the real estate investment trust's stock valued at $1,253,584,000 after buying an additional 658,240 shares during the period. Northern Trust Corp raised its stake in 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 raised its stake in 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 lifted its holdings in Realty Income by 6.5% during the fourth 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 purchasing an additional 193,013 shares during the last quarter. Finally, Lasalle Investment Management Securities LLC boosted its position in Realty Income by 8.6% during the fourth quarter. Lasalle Investment Management Securities LLC now owns 2,432,712 shares of the real estate investment trust's stock worth $129,931,000 after purchasing an additional 192,749 shares during the period. 70.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Barclays reaffirmed an "overweight" rating on shares of Realty Income in a report on Tuesday, April 22nd. Scotiabank upped 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. Wedbush reiterated a "neutral" rating and set a $61.00 price target on shares of Realty Income in a research report on Wednesday, May 7th. JPMorgan Chase & Co. decreased their price objective on shares of Realty Income from $64.00 to $61.00 and set a "neutral" rating on the stock in a research report on Monday, May 5th. Finally, UBS Group dropped their target price on shares of Realty Income from $64.00 to $62.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $61.15.

Realty Income Price Performance

Shares of NYSE:O traded down $0.55 during mid-day trading on Wednesday, reaching $56.81. The stock had a trading volume of 3,836,923 shares, compared to its average volume of 4,804,722. The business's 50 day moving average price is $57.06 and its 200 day moving average price is $56.28. Realty Income Corporation has a 1 year low of $50.71 and a 1 year high of $64.88. The company has a market cap of $51.30 billion, a P/E ratio of 51.65, a price-to-earnings-growth ratio of 4.03 and a beta of 0.75. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.69.

Realty Income (NYSE:O - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $1.06 EPS for the quarter, meeting the consensus estimate of $1.06. Realty Income had a net margin of 18.15% and a return on equity of 2.51%. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the business earned $1.03 earnings per share. Realty Income's quarterly revenue was up 9.5% compared to the same quarter last year. Research analysts expect that Realty Income Corporation will post 4.19 EPS for the current fiscal year.

Realty Income Announces Dividend

The firm also recently declared a aug 25 dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be paid a dividend of $0.269 per share. This represents a dividend yield of 5.7%. The ex-dividend date of this dividend is Friday, August 1st. Realty Income's dividend payout ratio is currently 293.64%.

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.