SteelPeak Wealth LLC Takes Position in Realty Income Corporation $O

SteelPeak Wealth LLC acquired a new position in shares of Realty Income Corporation (NYSE:O - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 15,772 shares of the real estate investment trust's stock, valued at approximately $909,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake 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 valued at $326,000 after purchasing an additional 615 shares during the period. Bison Wealth LLC acquired a new stake in shares of Realty Income in the 4th quarter worth approximately $571,000. Wedmont Private Capital increased its stake in Realty Income by 11.6% in the 1st quarter. Wedmont Private Capital now owns 4,841 shares of the real estate investment trust's stock valued at $267,000 after purchasing an additional 503 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Realty Income by 230.4% during the first quarter. Farther Finance Advisors LLC now owns 18,145 shares of the real estate investment trust's stock worth $1,037,000 after purchasing an additional 12,654 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC boosted its position in Realty Income by 10.2% during the first quarter. Wealthcare Advisory Partners LLC now owns 22,269 shares of the real estate investment trust's stock worth $1,292,000 after purchasing an additional 2,066 shares in the last quarter. Institutional investors and hedge funds 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 stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $60.43, for a total transaction of $664,730.00. Following the transaction, the director directly owned 19,211 shares in the company, valued at $1,160,920.73. This represents a 36.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.10% of the stock is currently owned by corporate insiders.

Realty Income Stock Down 1.0%

O stock opened at $59.01 on Thursday. The company has a 50 day moving average price of $58.88 and a two-hundred day moving average price of $57.44. 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 capitalization of $53.95 billion, a P/E ratio of 57.29, a PEG ratio of 4.56 and a beta of 0.78. Realty Income Corporation has a one year low of $50.71 and a one year high of $64.88.

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

Realty Income Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be issued a $0.2695 dividend. This is a positive change from Realty Income's previous monthly dividend of $0.27. The ex-dividend date is Wednesday, October 1st. This represents a c) annualized dividend and a yield of 5.5%. Realty Income's dividend payout ratio (DPR) is presently 313.59%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on O shares. Mizuho raised their price target on Realty Income from $60.00 to $63.00 and gave the company a "neutral" rating in a research report on Thursday, September 11th. 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. Barclays lifted their target price on shares of Realty Income from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 20th. Wolfe Research lowered shares of Realty Income from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. Finally, Cantor Fitzgerald began coverage on shares of Realty Income in a research note on Wednesday, October 1st. They set a "neutral" rating and a $64.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Realty Income has an average rating of "Hold" and an average price target 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.

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