Harbour Trust & Investment Management Co Sells 1,228 Shares of Realty Income Co. (NYSE:O)

Harbour Trust & Investment Management Co cut its position in Realty Income Co. (NYSE:O) by 9.5% in the second quarter, HoldingsChannel.com reports. The firm owned 11,653 shares of the real estate investment trust’s stock after selling 1,228 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Realty Income were worth $616,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of O. American National Bank purchased a new position in Realty Income during the 4th quarter valued at approximately $25,000. Vima LLC purchased a new stake in Realty Income during the fourth quarter valued at $25,000. Pacifica Partners Inc. lifted its position in Realty Income by 444.4% during the second quarter. Pacifica Partners Inc. now owns 490 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 400 shares during the last quarter. WASHINGTON TRUST Co lifted its position in Realty Income by 65.7% during the first quarter. WASHINGTON TRUST Co now owns 497 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 197 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Realty Income in the 1st quarter worth $27,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on O. KeyCorp initiated coverage on Realty Income in a research report on Wednesday, June 12th. They set a “sector weight” rating on the stock. Mizuho raised their price target on Realty Income from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. UBS Group raised their target price on shares of Realty Income from $61.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Stifel Nicolaus upped their price target on shares of Realty Income from $65.00 to $67.50 and gave the company a “buy” rating in a report on Tuesday, August 6th. Finally, Robert W. Baird raised their price objective on shares of Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $61.73.

Realty Income Stock Down 0.7 %

NYSE:O traded down $0.43 during midday trading on Thursday, reaching $60.50. 3,406,871 shares of the stock traded hands, compared to its average volume of 6,055,555. The business has a 50-day moving average of $56.35 and a two-hundred day moving average of $54.21. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.83 and a current ratio of 1.83. Realty Income Co. has a 12-month low of $45.03 and a 12-month high of $61.60. The stock has a market capitalization of $52.68 billion, a PE ratio of 56.15, a price-to-earnings-growth ratio of 5.05 and a beta of 0.96.

Realty Income (NYSE:O) last released its earnings results on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.07). Realty Income had a return on equity of 3.26% and a net margin of 17.74%. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the firm posted $1.00 EPS. The firm’s revenue for the quarter was up 31.4% on a year-over-year basis. On average, equities analysts forecast that Realty Income Co. will post 4.2 earnings per share for the current fiscal year.

Realty Income Announces Dividend

The company also recently disclosed a sep 24 dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.263 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a dividend yield of 5.2%. Realty Income’s payout ratio is 291.67%.

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.