Principle Wealth Partners LLC Buys 4,471 Shares of Realty Income Corporation (NYSE:O)

Key Points

• Principle Wealth Partners LLC increased its holdings in Realty Income Corporation by 83.2% after acquiring an additional 4,471 shares, bringing their total to 9,845 shares worth approximately $571,000.
• Realty Income has received mixed analyst ratings, with some boosting their target price while others downgraded the stock; currently, it has a consensus rating of "Hold".
• The company recently announced a $0.269 dividend per share, leading to a dividend yield of 5.7%, with a payout ratio of 293.64%.

Principle Wealth Partners LLC lifted its holdings in Realty Income Corporation (NYSE:O - Free Report) by 83.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,845 shares of the real estate investment trust's stock after buying an additional 4,471 shares during the quarter. Principle Wealth Partners LLC's holdings in Realty Income were worth $571,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in O. Carnegie Investment Counsel increased its position in Realty Income by 2.8% in the first quarter. Carnegie Investment Counsel now owns 89,888 shares of the real estate investment trust's stock worth $4,760,000 after purchasing an additional 2,436 shares during the period. Machina Capital S.A.S. acquired a new stake in Realty Income in the first quarter worth about $1,441,000. NorthStar Asset Management LLC NJ increased its position in Realty Income by 11.0% in the first quarter. NorthStar Asset Management LLC NJ now owns 6,076 shares of the real estate investment trust's stock worth $352,000 after purchasing an additional 603 shares during the period. Pinnacle Associates Ltd. increased its position in Realty Income by 5.0% in the first quarter. Pinnacle Associates Ltd. now owns 7,203 shares of the real estate investment trust's stock worth $418,000 after purchasing an additional 345 shares during the period. Finally, Black Swift Group LLC increased its position in Realty Income by 137.8% in the first quarter. Black Swift Group LLC now owns 17,595 shares of the real estate investment trust's stock worth $1,021,000 after purchasing an additional 10,195 shares during the period. 70.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on O shares. Stifel Nicolaus boosted their target price on Realty Income from $65.50 to $68.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Wolfe Research cut Realty Income from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Mizuho lifted their price objective on Realty Income from $54.00 to $59.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. UBS Group cut their price objective on Realty Income from $64.00 to $62.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Finally, Wedbush reiterated a "neutral" rating and set a $61.00 price objective on shares of Realty Income in a report on Wednesday, May 7th. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $61.15.

Realty Income Price Performance

Shares of NYSE:O traded down $0.12 during trading on Friday, reaching $57.90. 4,435,850 shares of the company traded hands, compared to its average volume of 5,066,471. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $52.29 billion, a PE ratio of 52.64, a PEG ratio of 4.07 and a beta of 0.75. Realty Income Corporation has a 52 week low of $50.71 and a 52 week high of $64.88. The company's 50 day moving average is $56.99 and its two-hundred day moving average is $56.18.

Realty Income (NYSE:O - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $1.06 earnings per share for the quarter, meeting the consensus estimate of $1.06. The company had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.28 billion. Realty Income had a return on equity of 2.51% and a net margin of 18.15%. The business's quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. As a group, sell-side analysts predict that Realty Income Corporation will post 4.19 earnings per share for the current year.

Realty Income Announces Dividend

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