Kovack Advisors Inc. Reduces Stock Position in Realty Income Co. (NYSE:O)

Kovack Advisors Inc. lessened its holdings in shares of Realty Income Co. (NYSE:O) by 9.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,758 shares of the real estate investment trust’s stock after selling 2,574 shares during the period. Kovack Advisors Inc.’s holdings in Realty Income were worth $1,570,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of O. Empowered Funds LLC raised its holdings in shares of Realty Income by 48.4% during the 1st quarter. Empowered Funds LLC now owns 11,233 shares of the real estate investment trust’s stock valued at $608,000 after purchasing an additional 3,663 shares in the last quarter. US Bancorp DE grew its position in Realty Income by 6.7% in the first quarter. US Bancorp DE now owns 128,117 shares of the real estate investment trust’s stock valued at $6,931,000 after acquiring an additional 8,037 shares during the period. Bleakley Financial Group LLC grew its stake in Realty Income by 2.8% during the first quarter. Bleakley Financial Group LLC now owns 22,644 shares of the real estate investment trust’s stock worth $1,225,000 after buying an additional 613 shares during the last quarter. Cozad Asset Management Inc. raised its holdings in Realty Income by 5.9% in the first quarter. Cozad Asset Management Inc. now owns 5,022 shares of the real estate investment trust’s stock worth $272,000 after purchasing an additional 279 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Realty Income by 18.2% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 341,056 shares of the real estate investment trust’s stock worth $18,451,000 after buying an additional 52,501 shares during the period. Institutional investors own 70.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on O shares. UBS Group upped their target price on Realty Income from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $65.00 price target (up from $62.00) on shares of Realty Income in a report on Tuesday, October 1st. Royal Bank of Canada cut their target price on shares of Realty Income from $67.00 to $63.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Wedbush initiated coverage on shares of Realty Income in a report on Monday, August 19th. They set a “neutral” rating and a $64.00 price target for the company. Finally, Scotiabank raised their price objective on Realty Income from $61.00 to $64.00 and gave the company a “sector perform” rating in a report on Tuesday, September 17th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $63.85.

Realty Income Trading Up 0.5 %

O traded up $0.30 during midday trading on Wednesday, reaching $57.32. 762,295 shares of the company’s stock traded hands, compared to its average volume of 5,667,140. The firm has a fifty day moving average of $61.67 and a two-hundred day moving average of $57.98. Realty Income Co. has a 52 week low of $50.65 and a 52 week high of $64.88. The stock has a market capitalization of $50.17 billion, a price-to-earnings ratio of 54.59, a P/E/G ratio of 4.01 and a beta of 0.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.40.

Realty Income (NYSE:O) last released its earnings results on Monday, November 4th. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.75). Realty Income had a net margin of 17.57% and a return on equity of 2.35%. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the business earned $1.02 EPS. The company’s revenue for the quarter was up 28.1% compared to the same quarter last year. On average, equities analysts anticipate that Realty Income Co. will post 4.2 earnings per share for the current fiscal year.

Realty Income Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.2635 per share. This represents a $3.16 annualized dividend and a yield of 5.52%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Realty Income’s previous monthly dividend of $0.24. Realty Income’s dividend payout ratio (DPR) is currently 300.95%.

Insider Transactions at Realty Income

In other news, Director Mary Hogan Preusse sold 1,712 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total value of $107,136.96. Following the completion of the sale, the director now owns 26,579 shares in the company, valued at approximately $1,663,313.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total transaction of $107,136.96. Following the transaction, the director now owns 26,579 shares in the company, valued at approximately $1,663,313.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director A. Larry Chapman sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $60.77, for a total value of $303,850.00. Following the completion of the transaction, the director now owns 5,257 shares of the company’s stock, valued at approximately $319,467.89. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

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.