Private Management Group Inc. Buys Shares of 535,061 Realty Income Corporation (NYSE:O)

Key Points

• Private Management Group Inc. acquired 535,061 shares of Realty Income Corporation, valued at approximately $31 million, making it the 26th largest holding in their investment portfolio.
• Several institutional investors increased their stakes in Realty Income, with notable boosts from Nicholas Wealth LLC (up 16%) and Cetera Investment Advisers (up 5.6%).
• Realty Income announced a dividend of $0.269 per share, representing a yield of 5.7%, to be paid on August 15th, with a dividend payout ratio of 292.73%.

Private Management Group Inc. acquired a new stake in Realty Income Corporation (NYSE:O - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 535,061 shares of the real estate investment trust's stock, valued at approximately $31,039,000. Realty Income comprises about 1.1% of Private Management Group Inc.'s investment portfolio, making the stock its 26th biggest position. Private Management Group Inc. owned approximately 0.06% of Realty Income as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Assetmark Inc. lifted its stake in Realty Income by 5.1% in the first quarter. Assetmark Inc. now owns 67,174 shares of the real estate investment trust's stock valued at $3,897,000 after buying an additional 3,245 shares during the period. Nicholas Wealth LLC. increased its stake in shares of Realty Income by 16.0% in the 1st quarter. Nicholas Wealth LLC. now owns 15,024 shares of the real estate investment trust's stock valued at $872,000 after acquiring an additional 2,069 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Realty Income by 5.6% during the 1st quarter. Cetera Investment Advisers now owns 1,019,400 shares of the real estate investment trust's stock valued at $59,135,000 after acquiring an additional 54,510 shares during the period. Avantax Advisory Services Inc. boosted its stake in Realty Income by 18.7% during the first quarter. Avantax Advisory Services Inc. now owns 112,086 shares of the real estate investment trust's stock worth $6,502,000 after acquiring an additional 17,695 shares in the last quarter. Finally, Tempus Wealth Planning LLC acquired a new stake in Realty Income in the first quarter worth $332,000. 70.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

O has been the topic of several research reports. Mizuho upped their price objective on shares of Realty Income from $54.00 to $59.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Barclays reaffirmed an "overweight" rating on shares of Realty Income in a research note on Tuesday, April 22nd. Scotiabank increased their price target on Realty Income from $57.00 to $58.00 and gave the stock a "sector perform" rating in a report on Monday, May 12th. UBS Group decreased their price objective on Realty Income from $64.00 to $62.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Finally, Stifel Nicolaus upped 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. Ten equities research 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 has an average rating of "Hold" and an average target price of $61.15.

Realty Income Stock Down 0.2%

O traded down $0.12 during trading on Friday, hitting $57.90. 4,435,850 shares of the company's stock were exchanged, 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 business's 50 day moving average is $56.99 and its two-hundred day moving average is $56.18. Realty Income Corporation has a fifty-two week low of $50.71 and a fifty-two week high of $64.88. The stock has a market cap of $52.29 billion, a P/E ratio of 52.64, a PEG ratio of 4.07 and a beta of 0.75.

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

Realty Income Announces Dividend

The firm also recently disclosed a aug 25 dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a $0.269 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a yield of 5.7%. Realty Income's dividend payout ratio (DPR) is presently 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.