HighTower Advisors LLC Reduces Holdings in Realty Income Corporation (NYSE:O)

Key Points

• HighTower Advisors LLC sold 20,858 shares of Realty Income Corporation, reducing its stake by 5.5%, leaving the firm with 359,562 shares valued at approximately $20.86 million.
• Realty Income announced a monthly dividend increase to $0.269 per share, reflecting a yield of 5.5% and showcasing the company’s commitment to reliable payouts.
• Analysts have mixed views on Realty Income, with UBS Group raising its price target to $66.00 and a consensus rating of "Hold," while several other firms have issued varying ratings recently.

HighTower Advisors LLC trimmed its position in shares of Realty Income Corporation (NYSE:O - Free Report) by 5.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 359,562 shares of the real estate investment trust's stock after selling 20,858 shares during the quarter. HighTower Advisors LLC's holdings in Realty Income were worth $20,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of O. PSI Advisors LLC raised 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 worth $33,000 after purchasing an additional 252 shares during the period. Fourth Dimension Wealth LLC bought a new position in Realty Income in the 4th quarter worth $34,000. FSC Wealth Advisors LLC raised its holdings in Realty Income by 288.0% in the 1st 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 period. Orion Capital Management LLC bought a new position in Realty Income in the 4th quarter worth $37,000. Finally, CVA Family Office LLC raised its holdings in Realty Income by 52.8% in the 1st quarter. CVA Family Office LLC now owns 787 shares of the real estate investment trust's stock worth $46,000 after purchasing an additional 272 shares during the period. 70.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on O. JPMorgan Chase & Co. cut their price target on Realty Income from $64.00 to $61.00 and set a "neutral" rating for the company in a research note on Monday, May 5th. Barclays restated an "overweight" rating on shares of Realty Income in a research report on Tuesday, April 22nd. Wolfe Research lowered Realty Income from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. Stifel Nicolaus raised their price objective on Realty Income from $65.50 to $68.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Finally, Wedbush restated a "neutral" rating and set a $61.00 price objective on shares of Realty Income in a research report on Wednesday, May 7th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $61.73.

Realty Income Stock Performance

Shares of O traded up $0.58 during trading hours on Friday, reaching $58.40. 6,239,469 shares of the company traded hands, compared to its average volume of 4,646,010. The stock has a market capitalization of $53.40 billion, a P/E ratio of 56.70, a P/E/G ratio of 4.47 and a beta of 0.76. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.72. Realty Income Corporation has a 12-month low of $50.71 and a 12-month high of $64.88. The business has a fifty day moving average price of $57.39 and a 200-day moving average price of $56.55.

Realty Income (NYSE:O - Get Free Report) last posted its earnings results on Wednesday, August 6th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.06 by ($0.01). The business had revenue of $1.34 billion for 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 company's revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.07 earnings per share. Equities analysts anticipate that Realty Income Corporation will post 4.19 EPS for the current fiscal year.

Realty Income Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.269 per share. This is an increase from Realty Income's previous monthly dividend of $0.26. This represents a c) dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. Realty Income's dividend 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.