Summit Financial Wealth Advisors LLC Lowers Position in Realty Income Co. (NYSE:O)

Summit Financial Wealth Advisors LLC decreased its holdings in shares of Realty Income Co. (NYSE:O) by 33.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,080 shares of the real estate investment trust’s stock after selling 3,000 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in Realty Income were worth $386,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. ZWJ Investment Counsel Inc. raised its position in shares of Realty Income by 0.6% during the 3rd quarter. ZWJ Investment Counsel Inc. now owns 29,279 shares of the real estate investment trust’s stock valued at $1,857,000 after buying an additional 164 shares in the last quarter. Whittier Trust Co. increased its stake in Realty Income by 4.5% in the third quarter. Whittier Trust Co. now owns 3,871 shares of the real estate investment trust’s stock valued at $245,000 after acquiring an additional 166 shares during the last quarter. Greenleaf Trust raised its position in Realty Income by 1.0% during the third quarter. Greenleaf Trust now owns 16,911 shares of the real estate investment trust’s stock valued at $1,072,000 after purchasing an additional 170 shares in the last quarter. Grove Bank & Trust lifted its stake in Realty Income by 14.3% during the third quarter. Grove Bank & Trust now owns 1,409 shares of the real estate investment trust’s stock worth $89,000 after purchasing an additional 176 shares during the last quarter. Finally, Buckley Wealth Management LLC boosted its holdings in shares of Realty Income by 1.9% in the 3rd quarter. Buckley Wealth Management LLC now owns 9,450 shares of the real estate investment trust’s stock worth $599,000 after purchasing an additional 176 shares in the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Realty Income

In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the firm’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 completion of the transaction, the director now owns 26,579 shares of the company’s stock, valued at approximately $1,663,313.82. This trade represents a 6.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.10% of the stock is currently owned by corporate insiders.

Realty Income Stock Performance

Shares of O stock opened at $57.44 on Tuesday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.68. The stock has a fifty day moving average of $60.66 and a 200 day moving average of $58.13. The firm has a market capitalization of $50.27 billion, a price-to-earnings ratio of 54.70, a PEG ratio of 4.04 and a beta of 0.99. Realty Income Co. has a 52 week low of $50.65 and a 52 week high of $64.88.

Realty Income (NYSE:O) last announced its earnings results on Monday, November 4th. The real estate investment trust reported $0.30 earnings per share 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 company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the firm posted $1.02 EPS. The company’s revenue for the quarter was up 28.1% on a year-over-year basis. As a group, research analysts expect that Realty Income Co. will post 4.19 earnings per share for the current year.

Realty Income Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a $0.2635 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 5.51%. The ex-dividend date 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 presently 300.96%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Royal Bank of Canada decreased their price objective on Realty Income from $67.00 to $63.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $65.00 target price (up previously from $62.00) on shares of Realty Income in a research report on Tuesday, October 1st. Scotiabank upped their price target on shares of Realty Income from $61.00 to $64.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 17th. UBS Group decreased their price objective on Realty Income from $72.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Finally, Mizuho cut Realty Income from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $64.00 to $60.00 in a report on Thursday, November 14th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Realty Income presently has a consensus rating of “Hold” and an average target price of $63.85.

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.