Synergy Asset Management LLC Takes $4.83 Million Position in Realty Income Co. (NYSE:O)

Synergy Asset Management LLC acquired a new position in Realty Income Co. (NYSE:O) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 91,513 shares of the real estate investment trust’s stock, valued at approximately $4,834,000.

A number of other hedge funds have also recently made changes to their positions in the stock. American National Bank acquired a new position in Realty Income in the 4th quarter valued at about $25,000. Vima LLC acquired a new position in shares of Realty Income in the fourth quarter valued at approximately $25,000. Pacifica Partners Inc. increased its stake in Realty Income by 444.4% during the 2nd quarter. Pacifica Partners Inc. now owns 490 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 400 shares during the period. Northwest Investment Counselors LLC acquired a new stake in Realty Income during the 1st quarter worth approximately $27,000. Finally, Bell Investment Advisors Inc lifted its holdings in Realty Income by 69.6% during the 1st quarter. Bell Investment Advisors Inc now owns 529 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 217 shares in the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Realty Income Stock Performance

Shares of O stock traded up $0.08 during mid-day trading on Friday, hitting $62.41. The stock had a trading volume of 170,806 shares, compared to its average volume of 5,922,134. The firm has a market cap of $54.35 billion, a PE ratio of 57.71, a PEG ratio of 4.62 and a beta of 0.96. The company’s 50-day simple moving average is $58.28 and its 200-day simple moving average is $54.91. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.39 and a quick ratio of 1.39. Realty Income Co. has a fifty-two week low of $45.03 and a fifty-two week high of $63.39.

Realty Income (NYSE:O) last released its earnings results on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.07). Realty Income had a return on equity of 3.27% and a net margin of 17.89%. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the firm posted $1.00 EPS. The business’s revenue for the quarter was up 31.4% on a year-over-year basis. Sell-side analysts anticipate that Realty Income Co. will post 3.93 earnings per share for the current year.

Realty Income Announces Dividend

The business also recently declared a sep 24 dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd will be given 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%.

Insider Transactions at Realty Income

In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $60.77, for a total transaction of $303,850.00. Following the sale, the director now directly owns 5,257 shares in the company, valued at $319,467.89. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

O has been the subject of several recent research reports. Royal Bank of Canada lifted their price objective on Realty Income from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Wedbush initiated coverage on shares of Realty Income in a research note on Monday, August 19th. They issued a “neutral” rating and a $64.00 price target for the company. JPMorgan Chase & Co. increased their price objective on shares of Realty Income from $60.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday. Wells Fargo & Company lifted their price objective on shares of Realty Income from $57.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Monday, August 26th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $62.00 target price on shares of Realty Income in a report on Tuesday, August 6th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $62.38.

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.