Mattern Capital Management LLC Boosts Holdings in Realty Income Corporation $O

Mattern Capital Management LLC raised its holdings in Realty Income Corporation (NYSE:O) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,623 shares of the real estate investment trust’s stock after buying an additional 1,900 shares during the quarter. Mattern Capital Management LLC’s holdings in Realty Income were worth $7,813,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Compagnie Lombard Odier SCmA acquired a new position in shares of Realty Income in the 2nd quarter valued at about $25,000. Keystone Global Partners LLC acquired a new position in shares of Realty Income in the 1st quarter valued at about $26,000. PSI Advisors LLC lifted its stake in shares of Realty Income by 78.3% in the 1st quarter. PSI Advisors LLC now owns 574 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 252 shares in the last quarter. FSC Wealth Advisors LLC lifted its stake in shares of Realty Income by 288.0% in the 1st quarter. FSC Wealth Advisors LLC now owns 613 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 455 shares in the last quarter. Finally, Hilltop National Bank acquired a new position in shares of Realty Income in the 2nd quarter valued at about $36,000. 70.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Realty Income news, Director Mary Hogan Preusse sold 11,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $60.43, for a total value of $664,730.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

O has been the topic of several research analyst reports. Evercore ISI initiated coverage on Realty Income in a research note on Wednesday. They issued an “in-line” rating and a $62.00 price objective on the stock. Wolfe Research lowered Realty Income from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 14th. Scotiabank lifted their price objective on Realty Income from $58.00 to $60.00 and gave the company a “sector perform” rating in a research note on Thursday, August 28th. Mizuho boosted their price target on Realty Income from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, September 11th. Finally, UBS Group boosted their price target on Realty Income from $62.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, August 15th. Three research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $62.25.

Realty Income Stock Performance

Shares of O opened at $60.08 on Friday. The business’s 50 day moving average is $58.68 and its two-hundred day moving average is $57.34. Realty Income Corporation has a 52-week low of $50.71 and a 52-week high of $64.88. The firm has a market cap of $54.93 billion, a price-to-earnings ratio of 58.33, a PEG ratio of 4.62 and a beta of 0.78. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.72.

Realty Income (NYSE:O) 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 analysts’ consensus estimates of $1.06 by ($0.01). Realty Income had a net margin of 16.77% and a return on equity of 2.34%. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the company earned $1.07 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts forecast that Realty Income Corporation will post 4.19 EPS for the current fiscal year.

Realty Income Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given a $0.2695 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend is Wednesday, October 1st. This is a positive change from Realty Income’s previous monthly dividend of $0.27. Realty Income’s dividend payout ratio is currently 313.59%.

Realty Income Company 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.