Wealthfront Advisers LLC increased its position in shares of Realty Income Corporation (NYSE:O – Free Report) by 7.4% in the first quarter, HoldingsChannel reports. The firm owned 302,432 shares of the real estate investment trust’s stock after purchasing an additional 20,955 shares during the period. Wealthfront Advisers LLC’s holdings in Realty Income were worth $18,503,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. DGS Capital Management LLC boosted its position in Realty Income by 4.3% in the fourth quarter. DGS Capital Management LLC now owns 3,836 shares of the real estate investment trust’s stock valued at $216,000 after buying an additional 158 shares in the last quarter. Patrick M Sweeney & Associates Inc. raised its stake in shares of Realty Income by 4.5% in the fourth quarter. Patrick M Sweeney & Associates Inc. now owns 3,801 shares of the real estate investment trust’s stock valued at $214,000 after acquiring an additional 164 shares during the last quarter. CYBER HORNET ETFs LLC boosted its holdings in shares of Realty Income by 7.4% in the 4th quarter. CYBER HORNET ETFs LLC now owns 2,417 shares of the real estate investment trust’s stock worth $136,000 after acquiring an additional 166 shares in the last quarter. Sage Private Wealth Group LLC grew its position in Realty Income by 2.2% during the 4th quarter. Sage Private Wealth Group LLC now owns 7,844 shares of the real estate investment trust’s stock worth $442,000 after acquiring an additional 170 shares during the last quarter. Finally, Trust Investment Advisors grew its position in Realty Income by 0.8% during the 4th quarter. Trust Investment Advisors now owns 23,266 shares of the real estate investment trust’s stock worth $1,311,000 after acquiring an additional 178 shares during the last quarter. 70.81% of the stock is owned by institutional investors.
Realty Income Stock Performance
O stock opened at $65.72 on Friday. The company has a 50 day moving average price of $62.05 and a 200 day moving average price of $62.39. Realty Income Corporation has a fifty-two week low of $55.86 and a fifty-two week high of $67.93. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.56 and a quick ratio of 1.56. The stock has a market capitalization of $61.28 billion, a PE ratio of 53.87, a price-to-earnings-growth ratio of 4.93 and a beta of 0.72.
Realty Income Announces Dividend
The company also recently declared a monthly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $0.271 dividend. The ex-dividend date is Friday, July 31st. This represents a c) annualized dividend and a yield of 4.9%. Realty Income’s dividend payout ratio (DPR) is currently 266.39%.
Analyst Ratings Changes
Several equities analysts have issued reports on the company. Royal Bank Of Canada lifted their price objective on Realty Income from $70.00 to $71.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Jefferies Financial Group began coverage on Realty Income in a report on Monday, June 1st. They set a “buy” rating and a $69.00 target price on the stock. Huntington assumed coverage on Realty Income in a research note on Wednesday. They issued an “outperform” rating and a $70.00 target price for the company. Morgan Stanley set a $67.00 price target on Realty Income in a report on Monday, April 27th. Finally, Mizuho reduced their price target on shares of Realty Income from $68.00 to $66.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $67.17.
Get Our Latest Stock Report on Realty Income
Key Headlines Impacting Realty Income
Here are the key news stories impacting Realty Income this week:
- Positive Sentiment: Cooling inflation is helping boost sentiment toward Realty Income, a rate-sensitive REIT, because lower inflation can reduce pressure on interest rates and improve the appeal of dividend-paying real estate stocks. Realty Income Is the Dividend Stock I’d Buy as Cooling Inflation Turns Into a Tailwind
- Positive Sentiment: Huntington initiated coverage on Realty Income with an outperform rating and a $70 price target, signaling confidence that the stock can rally further from recent levels. Realty Income (NYSE:O) Now Covered by Analysts at Huntington
- Positive Sentiment: Wells Fargo raised its price target on Realty Income to $65, reflecting continued analyst support even though the firm kept an equal weight rating. Realty Income price target raised by Wells Fargo
- Neutral Sentiment: Additional articles highlighted Realty Income as a reliable dividend stock and one of the safer ultra-high-yield income names, which reinforces its defensive income-investor appeal but does not add a new catalyst. There Are 300 Ultra-High-Yield Dividend Stocks on Wall Street — but These 2 Are Arguably the Safest of the Bunch
- Neutral Sentiment: Market commentary also pointed to Realty Income as a beneficiary of the June CPI report, since cooler inflation could make rate cuts more likely and support REIT valuations. CPI Comes In Cool: Why It Could Revive These 3 Rate-Sensitive Stocks (O)
Realty Income Company Profile
Realty Income Corporation (NYSE: O) is a real estate investment trust (REIT) that acquires, owns and manages commercial properties subject primarily to long-term net lease agreements. The company’s business model focuses on generating predictable, contractual rental income by leasing properties to tenants under agreements that typically place responsibility for taxes, insurance and maintenance on the tenant. Realty Income is publicly traded on the New York Stock Exchange and markets itself as a reliable income-oriented REIT.
Realty Income’s portfolio is concentrated in single-tenant, retail and service-oriented properties such as drugstores, convenience stores, dollar and discount retailers, restaurants, and other essential-service businesses.
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