Bard Financial Services Inc. Lowers Stake in Realty Income Co. (NYSE:O)

Bard Financial Services Inc. cut its position in shares of Realty Income Co. (NYSE:O) by 31.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 48,865 shares of the real estate investment trust’s stock after selling 22,020 shares during the quarter. Bard Financial Services Inc.’s holdings in Realty Income were worth $3,099,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Realty Income by 18.3% in the first quarter. Vanguard Group Inc. now owns 134,768,614 shares of the real estate investment trust’s stock worth $7,290,982,000 after acquiring an additional 20,848,560 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Realty Income by 4.5% in the second quarter. Legal & General Group Plc now owns 12,258,468 shares of the real estate investment trust’s stock worth $647,492,000 after acquiring an additional 531,008 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Realty Income by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 11,682,105 shares of the real estate investment trust’s stock worth $617,043,000 after acquiring an additional 413,865 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Realty Income by 2.2% in the first quarter. Daiwa Securities Group Inc. now owns 9,214,683 shares of the real estate investment trust’s stock worth $498,514,000 after acquiring an additional 196,635 shares during the last quarter. Finally, APG Asset Management US Inc. boosted its position in shares of Realty Income by 3.1% in the second quarter. APG Asset Management US Inc. now owns 8,680,325 shares of the real estate investment trust’s stock worth $454,502,000 after acquiring an additional 265,000 shares during the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Realty Income Stock Down 0.6 %

Shares of O traded down $0.39 during mid-day trading on Friday, reaching $62.01. 5,249,796 shares of the stock traded hands, compared to its average volume of 5,828,651. The firm has a market cap of $54.00 billion, a price-to-earnings ratio of 57.42, a P/E/G ratio of 4.34 and a beta of 0.99. The stock has a fifty day simple moving average of $61.34 and a 200 day simple moving average of $56.38. Realty Income Co. has a 12-month low of $45.03 and a 12-month high of $63.60. 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 (NYSE:O) last posted its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.07). The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.22 billion. Realty Income had a net margin of 17.89% and a return on equity of 3.27%. The company’s revenue was up 31.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.00 earnings per share. Sell-side analysts expect that Realty Income Co. will post 4.2 EPS for the current fiscal year.

Realty Income Increases Dividend

The company also recently disclosed a oct 24 dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.2635 per share. The ex-dividend date is Tuesday, October 1st. This represents a yield of 5%. This is a boost from Realty Income’s previous oct 24 dividend of $0.26. Realty Income’s dividend payout ratio is presently 292.59%.

Insiders Place Their Bets

In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of Realty Income stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total value of $107,136.96. Following the completion of the transaction, the director now owns 26,579 shares of the company’s stock, valued at $1,663,313.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $60.77, for a total value of $303,850.00. Following the transaction, the director now owns 5,257 shares of the company’s stock, valued at $319,467.89. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 directly owns 26,579 shares in the company, valued at $1,663,313.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on O shares. KeyCorp started coverage on shares of Realty Income in a research report on Wednesday, June 12th. They set a “sector weight” rating on the stock. Wedbush started coverage on shares of Realty Income in a research report on Monday, August 19th. They set a “neutral” rating and a $64.00 price target on the stock. Morgan Stanley reaffirmed an “equal weight” rating and set a $62.00 price target on shares of Realty Income in a research report on Tuesday, August 6th. UBS Group lifted their price target on shares of Realty Income from $61.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $65.00 price target (up from $62.00) on shares of Realty Income in a research report on Tuesday. 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.com, the company currently has an average rating of “Hold” and a consensus target price of $62.80.

Realty Income Company 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.