DAVENPORT & Co LLC Lowers Holdings in Realty Income Co. (NYSE:O)

DAVENPORT & Co LLC trimmed its position in Realty Income Co. (NYSE:O) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,095 shares of the real estate investment trust’s stock after selling 502 shares during the period. DAVENPORT & Co LLC’s holdings in Realty Income were worth $6,147,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Realty Income by 765.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,545,815 shares of the real estate investment trust’s stock worth $478,556,000 after purchasing an additional 6,673,617 shares in the last quarter. Raymond James & Associates increased its holdings in Realty Income by 92.4% during the 3rd quarter. Raymond James & Associates now owns 6,479,542 shares of the real estate investment trust’s stock valued at $410,932,000 after acquiring an additional 3,112,560 shares in the last quarter. Janus Henderson Group PLC raised its position in Realty Income by 3,150.5% during the third quarter. Janus Henderson Group PLC now owns 2,760,182 shares of the real estate investment trust’s stock worth $175,142,000 after acquiring an additional 2,675,266 shares during the last quarter. Parnassus Investments LLC lifted its holdings in shares of Realty Income by 7.4% in the third quarter. Parnassus Investments LLC now owns 24,448,225 shares of the real estate investment trust’s stock valued at $1,550,506,000 after purchasing an additional 1,676,293 shares in the last quarter. Finally, Bank of Montreal Can grew its position in shares of Realty Income by 102.1% in the third quarter. Bank of Montreal Can now owns 2,191,962 shares of the real estate investment trust’s stock valued at $137,502,000 after purchasing an additional 1,107,493 shares during the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Realty Income Price Performance

O stock opened at $54.51 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.40 and a current ratio of 1.40. Realty Income Co. has a 1 year low of $50.65 and a 1 year high of $64.88. The firm has a market cap of $47.71 billion, a P/E ratio of 51.91, a price-to-earnings-growth ratio of 1.96 and a beta of 1.00. The stock has a 50-day simple moving average of $54.45 and a 200-day simple moving average of $58.41.

Realty Income (NYSE:O) last issued its quarterly 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). The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Realty Income had a net margin of 17.57% and a return on equity of 2.35%. The company’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.02 EPS. On average, equities analysts predict that Realty Income Co. will post 4.19 earnings per share for the current fiscal year.

Realty Income Announces Dividend

The firm also recently declared a feb 25 dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be issued a $0.264 dividend. This represents a yield of 5.9%. The ex-dividend date is Monday, February 3rd. Realty Income’s dividend payout ratio is currently 301.91%.

Analyst Upgrades and Downgrades

O has been the topic of a number of analyst reports. Mizuho lowered their target price on Realty Income from $60.00 to $54.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Stifel Nicolaus reduced their price objective on Realty Income from $70.00 to $66.50 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Scotiabank reduced their price objective on Realty Income from $61.00 to $59.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 16th. Barclays assumed coverage on Realty Income in a research report on Tuesday, December 17th. They issued an “equal weight” rating and a $59.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Realty Income in a research report on Wednesday, December 11th. They issued a “hold” rating and a $62.00 price objective on the stock. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $62.04.

Realty Income 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.