Summit Financial LLC Acquires 619 Shares of Realty Income Co. (NYSE:O)

Summit Financial LLC increased its holdings in shares of Realty Income Co. (NYSE:O) by 8.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 8,346 shares of the real estate investment trust’s stock after acquiring an additional 619 shares during the period. Summit Financial LLC’s holdings in Realty Income were worth $441,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. WASHINGTON TRUST Co increased its holdings 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 valued at $27,000 after acquiring an additional 197 shares during the period. Essex Financial Services Inc. increased its holdings in shares of Realty Income by 1.5% in the 1st quarter. Essex Financial Services Inc. now owns 13,420 shares of the real estate investment trust’s stock valued at $726,000 after acquiring an additional 199 shares during the period. Crossmark Global Holdings Inc. boosted its position in shares of Realty Income by 0.6% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 35,285 shares of the real estate investment trust’s stock worth $1,864,000 after purchasing an additional 199 shares in the last quarter. Optimum Investment Advisors boosted its position in shares of Realty Income by 11.1% in the 2nd quarter. Optimum Investment Advisors now owns 2,000 shares of the real estate investment trust’s stock worth $106,000 after purchasing an additional 200 shares in the last quarter. Finally, MeadowBrook Investment Advisors LLC boosted its position in shares of Realty Income by 3.4% in the 2nd quarter. MeadowBrook Investment Advisors LLC now owns 6,092 shares of the real estate investment trust’s stock worth $322,000 after purchasing an additional 200 shares in the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Realty Income Price Performance

Shares of Realty Income stock opened at $62.29 on Wednesday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.66. Realty Income Co. has a twelve month low of $45.03 and a twelve month high of $62.61. The business has a 50-day moving average price of $57.89 and a 200 day moving average price of $54.81. The firm has a market cap of $54.24 billion, a PE ratio of 57.68, a P/E/G ratio of 4.62 and a beta of 0.96.

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

Realty Income Dividend Announcement

The company also recently disclosed a sep 24 dividend, which will be paid on Friday, September 13th. Shareholders 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 yield of 5.2%. Realty Income’s dividend payout ratio (DPR) is currently 291.67%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Stifel Nicolaus raised their price objective on Realty Income from $67.50 to $70.25 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Wedbush assumed coverage on Realty Income in a research report on Monday, August 19th. They issued a “neutral” rating and a $64.00 price objective for the company. KeyCorp started coverage on Realty Income in a research report on Wednesday, June 12th. They issued a “sector weight” rating for the company. UBS Group lifted their price target on Realty Income from $61.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, Robert W. Baird lifted their price target on Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $62.38.

Insiders Place Their Bets

In other news, Director A. Larry Chapman sold 5,000 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $319,467.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.10% of the stock is 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.