Mackenzie Financial Corp Purchases 20,214 Shares of Realty Income Corporation (NYSE:O)

Key Points

• Mackenzie Financial Corp increased its stake in Realty Income Corporation by 19.7%, owning 123,051 shares valued at approximately $7.14 million as of the latest quarter.
• Realty Income has a consensus rating of "Hold" from analysts, with a target price averaging $61.15, indicating cautious optimism in its stock performance.
• The company declared a dividend of $0.269 to be paid on August 15, contributing to its reputation as "The Monthly Dividend Company."

Mackenzie Financial Corp boosted its holdings in Realty Income Corporation (NYSE:O - Free Report) by 19.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 123,051 shares of the real estate investment trust's stock after purchasing an additional 20,214 shares during the quarter. Mackenzie Financial Corp's holdings in Realty Income were worth $7,138,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of O. PSI Advisors LLC raised its stake 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 valued at $33,000 after acquiring an additional 252 shares during the period. Fourth Dimension Wealth LLC bought a new stake 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 first 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 in the last quarter. Orion Capital Management LLC bought a new position in Realty Income in the fourth quarter worth $37,000. Finally, CVA Family Office LLC grew its position in Realty Income by 52.8% during the 1st quarter. CVA Family Office LLC now owns 787 shares of the real estate investment trust's stock valued at $46,000 after purchasing an additional 272 shares during the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

Realty Income Price Performance

Shares of O traded up $0.85 on Monday, hitting $57.42. The company's stock had a trading volume of 2,771,868 shares, compared to its average volume of 5,567,580. The company has a market capitalization of $51.86 billion, a PE ratio of 52.19, a PEG ratio of 3.97 and a beta of 0.76. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.74 and a quick ratio of 1.74. Realty Income Corporation has a fifty-two week low of $50.71 and a fifty-two week high of $64.88. The company has a 50 day moving average price of $57.10 and a 200 day moving average price of $56.36.

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

Realty Income Announces Dividend

The company also recently disclosed a aug 25 dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be issued a dividend of $0.269 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a yield of 570.0%. Realty Income's dividend payout ratio is currently 293.64%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Barclays reiterated an "overweight" rating on shares of Realty Income in a report on Tuesday, April 22nd. Scotiabank raised their target price on Realty Income from $57.00 to $58.00 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. Wedbush reaffirmed a "neutral" rating and issued a $61.00 target price on shares of Realty Income in a research report on Wednesday, May 7th. UBS Group decreased their target price on Realty Income from $64.00 to $62.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Finally, Wolfe Research cut Realty Income from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $61.15.

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.