Canal Capital Management LLC Purchases 424 Shares of Realty Income Co. (NYSE:O)

Canal Capital Management LLC increased its position in shares of Realty Income Co. (NYSE:O) by 0.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 104,783 shares of the real estate investment trust’s stock after buying an additional 424 shares during the period. Canal Capital Management LLC’s holdings in Realty Income were worth $5,535,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. American National Bank bought a new position in shares of Realty Income during the 4th quarter worth about $25,000. Vima LLC acquired a new position in Realty Income in the 4th quarter valued at approximately $25,000. Pacifica Partners Inc. lifted its position in shares of Realty Income by 444.4% in the 2nd quarter. Pacifica Partners Inc. now owns 490 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 400 shares during the period. WASHINGTON TRUST Co lifted its position in shares of Realty Income by 65.7% in the 1st quarter. WASHINGTON TRUST Co now owns 497 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 197 shares during the period. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Realty Income during the 1st quarter worth approximately $27,000. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wells Fargo & Company raised their target price on Realty Income from $57.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Monday, August 26th. 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 objective for the company. Stifel Nicolaus upped their target price on shares of Realty Income from $67.50 to $70.25 and gave the company a “buy” rating in a research note on Wednesday. Morgan Stanley restated an “equal weight” rating and set a $62.00 price target on shares of Realty Income in a research note on Tuesday, August 6th. Finally, KeyCorp started coverage on Realty Income in a report on Wednesday, June 12th. They set a “sector weight” rating on the stock. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $62.02.

Realty Income Stock Up 1.2 %

NYSE O opened at $62.11 on Friday. The stock’s 50 day simple moving average is $57.53 and its 200 day simple moving average is $54.62. Realty Income Co. has a one year low of $45.03 and a one year high of $62.41. The firm has a market cap of $54.09 billion, a PE ratio of 57.51, a price-to-earnings-growth ratio of 4.62 and a beta of 0.96. 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 (NYSE:O) last announced its earnings results on Monday, August 5th. The real estate investment trust reported $0.29 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 the consensus estimate of $1.22 billion. During the same quarter in the previous year, the company posted $1.00 EPS. Realty Income’s revenue for the quarter was up 31.4% on a year-over-year basis. As a group, sell-side analysts forecast that Realty Income Co. will post 3.93 earnings per share for the current fiscal year.

Realty Income Dividend Announcement

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 paid a dividend of $0.263 per share. The ex-dividend date is Tuesday, September 3rd. This represents a dividend yield of 5.2%. Realty Income’s dividend payout ratio (DPR) is currently 292.59%.

Insider Activity at Realty Income

In other news, Director A. Larry Chapman sold 5,000 shares of Realty Income stock in a transaction on 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 sale, the director now directly owns 5,257 shares of the company’s stock, valued at approximately $319,467.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is currently owned by company insiders.

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.