Jacobi Capital Management LLC Purchases New Holdings in Realty Income Corporation $O

Key Points

• Jacobi Capital Management LLC has acquired a new stake in Realty Income Corporation, purchasing 7,651 shares valued at approximately $444,000 in the first quarter.
• Realty Income has announced an increase in its monthly dividend to $0.2695 per share, with an upcoming payment date set for October 15th.
• Analysts have raised their price targets for Realty Income, with UBS Group increasing its target from $62.00 to $66.00 and maintaining a "buy" rating on the stock.

Jacobi Capital Management LLC purchased a new stake in shares of Realty Income Corporation (NYSE:O - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 7,651 shares of the real estate investment trust's stock, valued at approximately $444,000.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Realty Income by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 142,511,359 shares of the real estate investment trust's stock valued at $8,267,084,000 after acquiring an additional 3,274,853 shares during the period. Dimensional Fund Advisors LP lifted its position in Realty Income by 3.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,108,561 shares of the real estate investment trust's stock valued at $702,381,000 after acquiring an additional 451,307 shares during the period. Invesco Ltd. lifted its position in Realty Income by 0.4% during the 1st quarter. Invesco Ltd. now owns 11,421,973 shares of the real estate investment trust's stock valued at $662,589,000 after acquiring an additional 48,024 shares during the period. Raymond James Financial Inc. lifted its position in Realty Income by 9.6% during the 1st quarter. Raymond James Financial Inc. now owns 11,356,883 shares of the real estate investment trust's stock valued at $658,813,000 after acquiring an additional 992,303 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Realty Income by 1.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,112,801 shares of the real estate investment trust's stock valued at $586,644,000 after acquiring an additional 123,501 shares during the period. 70.81% of the stock is owned by hedge funds and other institutional investors.

Realty Income Stock Up 0.4%

O opened at $60.43 on Friday. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.72. The firm has a 50 day moving average price of $57.92 and a 200-day moving average price of $57.08. Realty Income Corporation has a twelve month low of $50.71 and a twelve month high of $64.88. The stock has a market capitalization of $55.25 billion, a price-to-earnings ratio of 58.67, a PEG ratio of 4.60 and a beta of 0.77.

Realty Income (NYSE:O - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.01). Realty Income had a net margin of 16.77% and a return on equity of 2.34%. The company had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.33 billion. During the same period in the previous year, the firm earned $1.07 earnings per share. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. Equities research analysts forecast that Realty Income Corporation will post 4.19 earnings per share for the current year.

Realty Income Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be issued a dividend of $0.2695 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This is a positive change from Realty Income's previous monthly dividend of $0.27. This represents a c) annualized dividend and a dividend yield of 5.4%. Realty Income's dividend payout ratio is presently 313.59%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on O. UBS Group upped their target price on shares of Realty Income from $62.00 to $66.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. Barclays upped their target price on shares of Realty Income from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 20th. Mizuho upped their target price on shares of Realty Income from $60.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday. Wolfe Research downgraded shares of Realty Income from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Finally, Scotiabank upped their target price on shares of Realty Income from $58.00 to $60.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 28th. Three equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $62.36.

Realty Income 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.