Convergence Financial LLC Grows Stake in Realty Income Co. (NYSE:O)

Convergence Financial LLC increased its holdings in Realty Income Co. (NYSE:O) by 4.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,878 shares of the real estate investment trust’s stock after buying an additional 795 shares during the period. Convergence Financial LLC’s holdings in Realty Income were worth $901,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Rosenberg Matthew Hamilton increased its holdings in shares of Realty Income by 75.4% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 491 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 211 shares during the last quarter. Creative Capital Management Investments LLC grew its position in Realty Income by 133.3% in the third quarter. Creative Capital Management Investments LLC now owns 525 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 300 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Realty Income during the fourth quarter valued at about $32,000. BankPlus Trust Department bought a new stake in Realty Income during the fourth quarter worth about $37,000. Finally, Luken Investment Analytics LLC bought a new stake in Realty Income during the fourth quarter worth about $40,000. Institutional investors own 70.81% of the company’s stock.

Realty Income Price Performance

Shares of O stock opened at $56.07 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.40 and a current ratio of 1.40. Realty Income Co. has a fifty-two week low of $50.65 and a fifty-two week high of $64.88. The firm has a market cap of $49.07 billion, a P/E ratio of 53.40, a P/E/G ratio of 2.10 and a beta of 1.00. The business’s 50 day moving average price is $54.07 and its 200-day moving average price is $57.98.

Realty Income (NYSE:O) last released its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.01). Realty Income had a net margin of 17.57% and a return on equity of 2.35%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.28 billion. On average, equities research analysts anticipate that Realty Income Co. will post 4.19 earnings per share for the current year.

Realty Income Increases Dividend

The business also recently disclosed a mar 25 dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be issued a $0.268 dividend. The ex-dividend date is Monday, March 3rd. This is a positive change from Realty Income’s previous mar 25 dividend of $0.26. This represents a yield of 5.7%. Realty Income’s dividend payout ratio (DPR) is 305.71%.

Analyst Ratings Changes

A number of brokerages recently weighed in on O. BNP Paribas cut Realty Income from an “outperform” rating to a “neutral” rating and set a $61.00 price objective on the stock. in a report on Tuesday. Mizuho decreased their price target on shares of Realty Income from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Royal Bank of Canada cut their price objective on shares of Realty Income from $62.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday. Barclays lowered their price target on shares of Realty Income from $59.00 to $56.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Finally, Scotiabank reduced their price objective on Realty Income from $61.00 to $59.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $61.96.

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.