Seamount Financial Group Inc. Buys New Holdings in Realty Income Corporation $O

Key Points

• Seamount Financial Group Inc. acquired 6,599 shares of Realty Income Corporation, valued at approximately $380,000, during the second quarter.
• Realty Income announced an increase in its monthly dividend to $0.2695 per share, representing an annualized yield of 5.4%.
• The company has a current market cap of $54.77 billion and reported earnings per share of $1.05 for the last quarter, slightly missing consensus estimates.

Seamount Financial Group Inc. purchased a new position in Realty Income Corporation (NYSE:O - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,599 shares of the real estate investment trust's stock, valued at approximately $380,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Brighton Jones LLC grew its holdings in shares of Realty Income by 11.2% in the fourth quarter. Brighton Jones LLC now owns 6,101 shares of the real estate investment trust's stock worth $326,000 after purchasing an additional 615 shares during the last quarter. Bison Wealth LLC purchased a new stake in Realty Income during the 4th quarter valued at $571,000. SeaCrest Wealth Management LLC grew its holdings in Realty Income by 15.9% in the 1st quarter. SeaCrest Wealth Management LLC now owns 5,848 shares of the real estate investment trust's stock worth $339,000 after acquiring an additional 802 shares during the last quarter. Gateway Investment Advisers LLC increased its position in shares of Realty Income by 12.1% in the first quarter. Gateway Investment Advisers LLC now owns 34,402 shares of the real estate investment trust's stock valued at $1,996,000 after acquiring an additional 3,719 shares during the period. Finally, Sivia Capital Partners LLC purchased a new position in shares of Realty Income in the first quarter valued at about $201,000. Institutional investors own 70.81% of the company's stock.

Insider Activity at Realty Income

In other news, Director Mary Hogan Preusse sold 11,000 shares of the company's stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $60.43, for a total value of $664,730.00. Following the sale, the director directly owned 19,211 shares of the company's stock, valued at $1,160,920.73. This represents a 36.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.10% of the company's stock.

Realty Income Stock Performance

Realty Income stock opened at $59.90 on Tuesday. Realty Income Corporation has a fifty-two week low of $50.71 and a fifty-two week high of $64.88. The stock's 50 day simple moving average is $58.79 and its two-hundred day simple moving average is $57.41. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.85 and a current ratio of 1.85. The stock has a market cap of $54.77 billion, a price-to-earnings ratio of 58.16, a PEG ratio of 4.62 and a beta of 0.78.

Realty Income (NYSE:O - Get Free Report) last announced its earnings results on Wednesday, August 6th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.01). Realty Income had a return on equity of 2.34% and a net margin of 16.77%.The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the company posted $1.07 EPS. The firm's revenue was up 5.3% on a year-over-year basis. As a group, analysts expect that Realty Income Corporation will post 4.19 earnings per share for the current fiscal year.

Realty Income Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.2695 per share. This is an increase from Realty Income's previous monthly dividend of $0.27. This represents a c) annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend is Wednesday, October 1st. Realty Income's payout ratio is 313.59%.

Wall Street Analyst Weigh In

O has been the subject of a number of analyst reports. Scotiabank increased their target price on shares of Realty Income from $58.00 to $60.00 and gave the stock a "sector perform" rating in a report on Thursday, August 28th. Evercore ISI assumed coverage on Realty Income in a research report on Wednesday, October 1st. They set an "in-line" rating and a $62.00 price target for the company. Cantor Fitzgerald assumed coverage on Realty Income in a research report on Wednesday, October 1st. They issued a "neutral" rating and a $64.00 price objective on the stock. Mizuho boosted their target price on Realty Income from $60.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, September 11th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Realty Income in a research note on Saturday, September 27th. Three research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $62.25.

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.

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.