Summit Financial LLC Raises Stock Holdings in Realty Income Co. (NYSE:O)

Summit Financial LLC lifted its holdings in Realty Income Co. (NYSE:O) by 259.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,811 shares of the real estate investment trust’s stock after purchasing an additional 24,413 shares during the quarter. Summit Financial LLC’s holdings in Realty Income were worth $1,806,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Captrust Financial Advisors raised its position in Realty Income by 2.8% during the third quarter. Captrust Financial Advisors now owns 96,169 shares of the real estate investment trust’s stock valued at $6,099,000 after purchasing an additional 2,609 shares during the period. Atom Investors LP purchased a new stake in Realty Income during the 3rd quarter valued at $1,454,000. Benjamin Edwards Inc. lifted its position in Realty Income by 7,301.7% in the third quarter. Benjamin Edwards Inc. now owns 203,918 shares of the real estate investment trust’s stock worth $12,932,000 after buying an additional 201,163 shares during the last quarter. Centiva Capital LP bought a new stake in Realty Income in the third quarter worth $406,000. Finally, Hilltop Holdings Inc. boosted its stake in Realty Income by 131.4% during the third quarter. Hilltop Holdings Inc. now owns 17,956 shares of the real estate investment trust’s stock worth $1,139,000 after buying an additional 10,196 shares during the period. Institutional investors own 70.81% of the company’s stock.

Realty Income Price Performance

NYSE O opened at $57.15 on Wednesday. The company has a market cap of $50.96 billion, a PE ratio of 54.43, a P/E/G ratio of 2.10 and a beta of 1.00. Realty Income Co. has a 52-week low of $50.65 and a 52-week high of $64.88. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.40 and a current ratio of 1.40. The firm’s 50 day moving average price is $55.90 and its 200-day moving average price is $57.17.

Realty Income (NYSE:O) last announced its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.01). Realty Income had a net margin of 17.57% and a return on equity of 2.35%. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Sell-side analysts forecast that Realty Income Co. will post 4.19 EPS for the current fiscal year.

Realty Income Increases Dividend

The company also recently disclosed a apr 25 dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a dividend of $0.2685 per share. This represents a dividend yield of 5.7%. The ex-dividend date of this dividend is Tuesday, April 1st. This is a positive change from Realty Income’s previous apr 25 dividend of $0.27. Realty Income’s payout ratio is 328.57%.

Analyst Ratings Changes

Several research firms have recently issued reports on O. Mizuho lowered their target price on shares of Realty Income from $60.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. BNP Paribas lowered Realty Income from an “outperform” rating to a “neutral” rating and set a $61.00 target price for the company. in a research report on Tuesday, February 25th. Stifel Nicolaus reduced their price target on Realty Income from $70.00 to $66.50 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Scotiabank dropped their price objective on Realty Income from $59.00 to $57.00 and set a “sector perform” rating for the company in a report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Realty Income in a research note on Wednesday, December 11th. They issued a “hold” rating and a $62.00 target price on the stock. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $62.04.

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.