DoubleLine ETF Adviser LP Sells 11,742 Shares of Realty Income Corporation $O

Key Points

• DoubleLine ETF Adviser LP reduced its stake in Realty Income Corporation by 18.8%, holding 50,771 shares valued at approximately $2.95 million after selling 11,742 shares in the first quarter.
• Realty Income announced an increase in its monthly dividend to $0.269, representing an annualized yield of 5.6%, with the payout ratio currently at 313.59%.
• Analysts are generally optimistic with a consensus rating of "Hold" and a price target of $62.00, while Realty Income's stock recently opened at $57.95.

DoubleLine ETF Adviser LP cut its stake in Realty Income Corporation (NYSE:O - Free Report) by 18.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,771 shares of the real estate investment trust's stock after selling 11,742 shares during the period. DoubleLine ETF Adviser LP's holdings in Realty Income were worth $2,945,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Realty Income by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 142,511,359 shares of the real estate investment trust's stock valued at $8,267,084,000 after buying an additional 3,274,853 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Realty Income by 3.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,108,561 shares of the real estate investment trust's stock valued at $702,381,000 after buying an additional 451,307 shares in the last quarter. Invesco Ltd. raised its stake in shares of Realty Income by 0.4% in the 1st quarter. Invesco Ltd. now owns 11,421,973 shares of the real estate investment trust's stock valued at $662,589,000 after buying an additional 48,024 shares in the last quarter. Raymond James Financial Inc. raised its stake in shares of Realty Income by 9.6% in the 1st quarter. Raymond James Financial Inc. now owns 11,356,883 shares of the real estate investment trust's stock valued at $658,813,000 after buying an additional 992,303 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Realty Income by 1.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,112,801 shares of the real estate investment trust's stock valued at $586,644,000 after buying an additional 123,501 shares in the last quarter. 70.81% of the stock is owned by institutional investors.

Realty Income Price Performance

Shares of Realty Income stock traded up $0.94 during mid-day trading on Friday, reaching $59.22. 5,316,633 shares of the stock were exchanged, compared to its average volume of 4,953,277. The company has a market cap of $54.14 billion, a price-to-earnings ratio of 57.49, a price-to-earnings-growth ratio of 4.45 and a beta of 0.77. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.72. The firm has a 50-day simple moving average of $57.72 and a 200 day simple moving average of $56.97. 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 posted 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). The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.33 billion. Realty Income had a net margin of 16.77% and a return on equity of 2.34%. The company's revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.07 EPS. On average, sell-side analysts predict that Realty Income Corporation will post 4.19 EPS for the current fiscal year.

Realty Income Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a $0.269 dividend. This represents a c) annualized dividend and a yield of 5.5%. The ex-dividend date is Tuesday, September 2nd. This is a boost from Realty Income's previous monthly dividend of $0.26. Realty Income's dividend payout ratio is 313.59%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on O. UBS Group increased their price objective 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. Barclays increased their price objective on shares of Realty Income from $58.00 to $59.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 20th. Scotiabank increased their price objective on shares of Realty Income from $58.00 to $60.00 and gave the company a "sector perform" rating in a research note on Thursday, August 28th. Finally, Wolfe Research cut shares of Realty Income from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. Three research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $62.00.

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.