RB Capital Management LLC Trims Stake in Realty Income Co. (NYSE:O)

RB Capital Management LLC decreased its position in shares of Realty Income Co. (NYSE:O) by 4.7% during the third quarter, Holdings Channel reports. The fund owned 18,376 shares of the real estate investment trust’s stock after selling 908 shares during the period. RB Capital Management LLC’s holdings in Realty Income were worth $1,165,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Lantz Financial LLC bought a new stake in shares of Realty Income in the 2nd quarter worth approximately $234,000. Wedmont Private Capital bought a new stake in shares of Realty Income in the 2nd quarter worth approximately $218,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Realty Income by 7.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 138,986 shares of the real estate investment trust’s stock worth $7,341,000 after purchasing an additional 9,890 shares in the last quarter. Great Valley Advisor Group Inc. boosted its position in shares of Realty Income by 12.2% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 66,143 shares of the real estate investment trust’s stock worth $3,494,000 after purchasing an additional 7,198 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of Realty Income by 19.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 69,419 shares of the real estate investment trust’s stock worth $3,667,000 after purchasing an additional 11,539 shares in the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Realty Income Trading Up 0.6 %

NYSE:O opened at $56.48 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.40. The firm has a market capitalization of $49.43 billion, a price-to-earnings ratio of 53.79, a price-to-earnings-growth ratio of 3.95 and a beta of 0.98. Realty Income Co. has a one year low of $50.65 and a one year high of $64.88. The business has a fifty day moving average price of $59.59 and a 200-day moving average price of $58.30.

Realty Income (NYSE:O) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.75). Realty Income had a return on equity of 2.35% and a net margin of 17.57%. The business 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 company posted $1.02 EPS. The company’s quarterly revenue was up 28.1% on a year-over-year basis. Sell-side analysts forecast that Realty Income Co. will post 4.2 EPS for the current year.

Realty Income Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, December 13th. Shareholders 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 yield of 5.60%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Realty Income’s previous monthly dividend of $0.24. Realty Income’s dividend payout ratio is presently 300.96%.

Insiders Place Their Bets

In other news, Director Mary Hogan Preusse sold 1,712 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was 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 in the company, valued at $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 SEC, which is available at the SEC website. 0.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. UBS Group dropped their price target on Realty Income from $72.00 to $71.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Scotiabank upped their price objective on Realty Income from $61.00 to $64.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 17th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $65.00 price objective (up from $62.00) on shares of Realty Income in a research report on Tuesday, October 1st. Mizuho cut Realty Income from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $64.00 to $60.00 in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. increased their price target on Realty Income from $60.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Ten equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Realty Income has an average rating of “Hold” and an average target price of $63.67.

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.