Realty Income Corporation (NYSE:O) Shares Sold by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia reduced its holdings in Realty Income Corporation by 19.6%, owning 100,642 shares after selling 24,603 shares in the first quarter.
• Realty Income reported earnings of $1.06 per share for the latest quarter, matching analyst expectations, and experienced a 9.5% year-over-year increase in revenue.
• The company announced a $0.269 dividend, set to be paid on August 15th, which represents a yield of 570.0%.

Bank of Nova Scotia cut its position in Realty Income Corporation (NYSE:O - Free Report) by 19.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,642 shares of the real estate investment trust's stock after selling 24,603 shares during the period. Bank of Nova Scotia's holdings in Realty Income were worth $5,838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in O. PSI Advisors LLC lifted its position in Realty Income by 78.3% during the first quarter. PSI Advisors LLC now owns 574 shares of the real estate investment trust's stock worth $33,000 after buying an additional 252 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new position in Realty Income during the fourth quarter worth approximately $34,000. FSC Wealth Advisors LLC lifted its position in Realty Income by 288.0% during the first quarter. FSC Wealth Advisors LLC now owns 613 shares of the real estate investment trust's stock worth $36,000 after buying an additional 455 shares in the last quarter. Orion Capital Management LLC purchased a new position in Realty Income during the fourth quarter worth approximately $37,000. Finally, CVA Family Office LLC lifted its position in Realty Income by 52.8% during the first quarter. CVA Family Office LLC now owns 787 shares of the real estate investment trust's stock worth $46,000 after buying an additional 272 shares in the last quarter. 70.81% of the stock is owned by institutional investors and hedge funds.

Realty Income Stock Performance

Shares of NYSE O opened at $57.47 on Tuesday. The company has a market cap of $51.90 billion, a PE ratio of 52.24, a price-to-earnings-growth ratio of 3.97 and a beta of 0.76. Realty Income Corporation has a 12 month low of $50.71 and a 12 month high of $64.88. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.74 and a quick ratio of 1.74. The company has a 50-day simple moving average of $57.14 and a 200-day simple moving average of $56.38.

Realty Income (NYSE:O - Get Free Report) last released 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 business had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same period last year, the company earned $1.03 earnings per share. The company's quarterly revenue was up 9.5% on a year-over-year basis. On average, equities analysts anticipate that Realty Income Corporation will post 4.19 earnings per share for the current 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 given a $0.269 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a yield of 570.0%. Realty Income's dividend payout ratio (DPR) is 293.64%.

Analysts Set New Price Targets

Several research firms have issued reports on O. Wolfe Research cut Realty Income from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Wedbush reissued a "neutral" rating and set a $61.00 target price on shares of Realty Income in a research note on Wednesday, May 7th. UBS Group cut 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. Barclays reissued an "overweight" rating on shares of Realty Income in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Realty Income from $64.00 to $61.00 and set a "neutral" rating on the stock in a report on Monday, May 5th. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Realty Income 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.

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.