Lederer & Associates Investment Counsel CA Takes Position in Realty Income Corporation $O

Key Points

• Lederer & Associates Investment Counsel CA has acquired a new position in Realty Income Corporation, purchasing 7,083 shares valued at approximately $408,000.
• Realty Income recently announced an increase in its monthly dividend to $0.2695, reflecting a yield of 5.5% and a dividend payout ratio of 313.59%.
• Realty Income reported $1.05 earnings per share for the last quarter, slightly missing estimates, but revenue increased by 5.3% year-over-year.

Lederer & Associates Investment Counsel CA bought a new position in shares of Realty Income Corporation (NYSE:O - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 7,083 shares of the real estate investment trust's stock, valued at approximately $408,000.

A number of other hedge funds also recently modified their holdings of the company. Norinchukin Bank The increased its position in shares of Realty Income by 9.7% during the first quarter. Norinchukin Bank The now owns 84,968 shares of the real estate investment trust's stock valued at $4,929,000 after purchasing an additional 7,497 shares during the period. Victory Capital Management Inc. increased its holdings in Realty Income by 5.3% in the 1st quarter. Victory Capital Management Inc. now owns 396,798 shares of the real estate investment trust's stock valued at $23,018,000 after buying an additional 19,965 shares during the period. Community Bank of Raymore raised its stake in shares of Realty Income by 19.7% in the 1st quarter. Community Bank of Raymore now owns 148,864 shares of the real estate investment trust's stock valued at $8,636,000 after buying an additional 24,467 shares in the last quarter. Venture Visionary Partners LLC lifted its holdings in shares of Realty Income by 6.2% during the 1st quarter. Venture Visionary Partners LLC now owns 142,496 shares of the real estate investment trust's stock worth $8,266,000 after acquiring an additional 8,297 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of 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 worth $662,589,000 after acquiring an additional 48,024 shares during the period. Institutional investors own 70.81% of the company's stock.

Realty Income Stock Performance

NYSE O opened at $59.21 on Monday. The firm's fifty day moving average price is $58.17 and its two-hundred day moving average price is $57.16. The stock has a market cap of $54.14 billion, a PE ratio of 57.49, a PEG ratio of 4.52 and a beta of 0.77. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.85 and a current 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 issued 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 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 period in the prior year, the firm earned $1.07 EPS. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities analysts expect that Realty Income Corporation will post 4.19 EPS for the current fiscal year.

Realty Income Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be paid a $0.2695 dividend. The ex-dividend date is Wednesday, October 1st. This represents a c) annualized dividend and a dividend yield of 5.5%. This is a boost from Realty Income's previous monthly dividend of $0.27. Realty Income's dividend payout ratio (DPR) is 313.59%.

Wall Street Analyst Weigh In

O has been the subject of several recent research reports. Wolfe Research lowered shares of Realty Income from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. Barclays upped their price objective on Realty Income from $58.00 to $59.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 20th. Mizuho boosted their price target on Realty Income from $60.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, September 11th. Scotiabank lifted their price objective on Realty Income from $58.00 to $60.00 and gave the company a "sector perform" rating in a report on Thursday, August 28th. Finally, UBS Group boosted 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. Three investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus 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.

Want to see what other hedge funds are holding O? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Realty Income Corporation (NYSE:O - Free Report).

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.