Summit Investment Advisors Inc. Cuts Stock Position in Realty Income Co. (NYSE:O)

Summit Investment Advisors Inc. trimmed its stake in shares of Realty Income Co. (NYSE:O) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,028 shares of the real estate investment trust’s stock after selling 693 shares during the period. Summit Investment Advisors Inc.’s holdings in Realty Income were worth $2,832,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Sagespring Wealth Partners LLC purchased a new stake in shares of Realty Income during the fourth quarter worth $1,253,000. Townsquare Capital LLC boosted its position in Realty Income by 0.6% during the fourth quarter. Townsquare Capital LLC now owns 97,823 shares of the real estate investment trust’s stock worth $5,225,000 after acquiring an additional 539 shares during the last quarter. Keyes Stange & Wooten Wealth Management LLC purchased a new stake in Realty Income during the 4th quarter valued at about $282,000. Rockefeller Capital Management L.P. raised its holdings in Realty Income by 0.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 592,860 shares of the real estate investment trust’s stock valued at $31,665,000 after acquiring an additional 2,625 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its holdings in shares of Realty Income by 21.2% during the 4th quarter. Sterling Capital Management LLC now owns 111,557 shares of the real estate investment trust’s stock worth $5,958,000 after purchasing an additional 19,527 shares during the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

Realty Income Trading Up 1.8 %

O opened at $55.14 on Monday. Realty Income Co. has a 52 week low of $50.65 and a 52 week high of $64.88. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.68. The business has a fifty day simple moving average of $55.87 and a 200-day simple moving average of $56.66. The firm has a market cap of $49.17 billion, a P/E ratio of 52.51, a P/E/G ratio of 2.10 and a beta of 0.79.

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

Realty Income Dividend Announcement

The firm also recently declared a may 25 dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be paid a $0.2685 dividend. The ex-dividend date of this dividend is Thursday, May 1st. This represents a dividend yield of 6%. Realty Income’s dividend payout ratio (DPR) is 328.57%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Stifel Nicolaus cut their price target on Realty Income from $70.00 to $66.50 and set a “buy” rating for the company in a report on Wednesday, January 8th. Barclays lifted their price target on Realty Income from $56.00 to $59.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. BNP Paribas cut shares of Realty Income from an “outperform” rating to a “neutral” rating and set a $61.00 price target on the stock. in a research report on Tuesday, February 25th. 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 report on Wednesday, February 26th. Finally, Mizuho boosted their target price on shares of Realty Income from $54.00 to $59.00 and gave the company a “neutral” rating in a report on Thursday, April 3rd. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $62.42.

About Realty Income

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.