WealthPlan Investment Management LLC grew its position in Realty Income Corporation (NYSE:O - Free Report) by 7.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 149,322 shares of the real estate investment trust's stock after purchasing an additional 10,388 shares during the quarter. WealthPlan Investment Management LLC's holdings in Realty Income were worth $8,602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of the company. Moseley Investment Management Inc. lifted its holdings in shares of Realty Income by 1.3% in the 2nd quarter. Moseley Investment Management Inc. now owns 13,565 shares of the real estate investment trust's stock worth $781,000 after acquiring an additional 175 shares during the last quarter. Castle Rock Wealth Management LLC lifted its holdings in Realty Income by 0.6% during the 2nd quarter. Castle Rock Wealth Management LLC now owns 27,421 shares of the real estate investment trust's stock valued at $1,552,000 after buying an additional 177 shares in the last quarter. Revisor Wealth Management LLC lifted its holdings in Realty Income by 2.3% during the 2nd quarter. Revisor Wealth Management LLC now owns 7,935 shares of the real estate investment trust's stock valued at $454,000 after buying an additional 178 shares in the last quarter. Pure Financial Advisors LLC lifted its holdings in Realty Income by 3.5% during the 2nd quarter. Pure Financial Advisors LLC now owns 5,519 shares of the real estate investment trust's stock valued at $318,000 after buying an additional 185 shares in the last quarter. Finally, N.E.W. Advisory Services LLC lifted its holdings in Realty Income by 1.2% during the 1st quarter. N.E.W. Advisory Services LLC now owns 15,503 shares of the real estate investment trust's stock valued at $899,000 after buying an additional 186 shares in the last quarter. 70.81% of the stock is currently owned by institutional investors.
Realty Income Trading Up 1.0%
NYSE O opened at $59.44 on Thursday. 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 company has a market capitalization of $54.35 billion, a price-to-earnings ratio of 57.71, a price-to-earnings-growth ratio of 4.49 and a beta of 0.78. The company's 50-day simple moving average is $59.07 and its two-hundred day simple moving average is $57.52. 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 posted its earnings results on Wednesday, August 6th. The real estate investment trust reported $1.05 EPS 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 net margin of 16.77% and a return on equity of 2.34%. The company's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the business posted $1.07 EPS. Equities analysts forecast that Realty Income Corporation will post 4.19 EPS for the current fiscal year.
Realty Income Announces Dividend
The company also recently disclosed a monthly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be given a $0.2695 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. Realty Income's payout ratio is presently 313.59%.
Insider Activity
In other news, Director Mary Hogan Preusse sold 11,000 shares of Realty Income stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $60.43, for a total value of $664,730.00. Following the transaction, the director owned 19,211 shares of the company's stock, valued at $1,160,920.73. The trade was a 36.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.10% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of Realty Income in a report on Wednesday, October 1st. They set a "neutral" rating and a $64.00 price objective for the company. Wolfe Research lowered shares of Realty Income from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Barclays lifted their price objective on shares of Realty Income from $58.00 to $59.00 and gave the company an "equal weight" rating in a report on Wednesday, August 20th. Scotiabank lifted their price objective on shares of Realty Income from $58.00 to $60.00 and gave the company a "sector perform" rating in a report on Thursday, August 28th. Finally, Evercore ISI initiated coverage on shares of Realty Income in a report on Wednesday, October 1st. They set an "in-line" rating and a $62.00 price objective for the company. Three analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, Realty Income currently has a consensus rating of "Hold" and a consensus target price of $62.25.
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About Realty Income
(
Free Report)
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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