Procyon Advisors LLC Reduces Position in Realty Income Co. (NYSE:O)

Procyon Advisors LLC lowered its position in Realty Income Co. (NYSE:O) by 5.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,836 shares of the real estate investment trust’s stock after selling 478 shares during the quarter. Procyon Advisors LLC’s holdings in Realty Income were worth $497,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of O. Pacifica Partners Inc. grew its holdings in shares of Realty Income by 444.4% in the second quarter. Pacifica Partners Inc. now owns 490 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 400 shares during the period. Northwest Investment Counselors LLC purchased a new stake in shares of Realty Income in the first quarter valued at about $27,000. Bell Investment Advisors Inc grew its holdings in shares of Realty Income by 69.6% in the first quarter. Bell Investment Advisors Inc now owns 529 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 217 shares during the period. MFA Wealth Advisors LLC purchased a new stake in shares of Realty Income in the second quarter valued at about $33,000. Finally, Riverview Trust Co purchased a new position in Realty Income during the first quarter worth about $34,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on O shares. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $65.00 target price (up previously from $62.00) on shares of Realty Income in a research note on Tuesday, October 1st. UBS Group increased their target price on shares of Realty Income from $61.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Morgan Stanley reaffirmed an “equal weight” rating and set a $62.00 target price on shares of Realty Income in a research note on Tuesday, August 6th. Stifel Nicolaus increased their target price on shares of Realty Income from $67.50 to $70.25 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Finally, Wedbush started coverage on shares of Realty Income in a research note on Monday, August 19th. They set a “neutral” rating and a $64.00 target price for the company. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $63.63.

Insider Activity at Realty Income

In related news, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction on 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 directly owns 5,257 shares of the company’s stock, valued at $319,467.89. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Realty Income 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 transaction, the director now owns 26,579 shares of the company’s stock, valued at approximately $1,663,313.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director A. Larry Chapman sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $60.77, for a total value of $303,850.00. Following the transaction, the director now directly owns 5,257 shares in the company, valued at approximately $319,467.89. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Realty Income Stock Up 2.0 %

Shares of NYSE:O opened at $63.37 on Wednesday. The firm’s 50 day moving average price is $61.79 and its 200 day moving average price is $56.87. The stock has a market cap of $55.18 billion, a price-to-earnings ratio of 58.68, a price-to-earnings-growth ratio of 4.30 and a beta of 0.99. Realty Income Co. has a fifty-two week low of $45.03 and a fifty-two week high of $63.74. 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 issued its 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). The firm 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 2.36%. The firm’s revenue was up 31.4% compared to the same quarter last year. During the same period last year, the business earned $1.00 EPS. As a group, equities research analysts predict that Realty Income Co. will post 4.2 earnings per share for the current fiscal year.

Realty Income Announces Dividend

The company also recently announced a nov 24 dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a $0.2635 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a yield of 5.1%. Realty Income’s dividend payout ratio (DPR) is 292.59%.

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.