King Luther Capital Management Corp Cuts Stock Position in Realty Income Co. (NYSE:O)

King Luther Capital Management Corp reduced its position in Realty Income Co. (NYSE:O) by 82.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,922 shares of the real estate investment trust’s stock after selling 26,899 shares during the period. King Luther Capital Management Corp’s holdings in Realty Income were worth $376,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of O. Cornerstone Advisors LLC boosted its stake in Realty Income by 43.4% in the third quarter. Cornerstone Advisors LLC now owns 26,100 shares of the real estate investment trust’s stock valued at $1,655,000 after acquiring an additional 7,900 shares in the last quarter. Moors & Cabot Inc. lifted its holdings in shares of Realty Income by 1.4% during the 3rd quarter. Moors & Cabot Inc. now owns 23,636 shares of the real estate investment trust’s stock valued at $1,499,000 after purchasing an additional 333 shares during the last quarter. Altman Advisors Inc. boosted its position in shares of Realty Income by 1.2% in the 3rd quarter. Altman Advisors Inc. now owns 28,837 shares of the real estate investment trust’s stock worth $1,829,000 after purchasing an additional 342 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in Realty Income during the 3rd quarter valued at about $65,000. Finally, First Horizon Advisors Inc. raised its stake in Realty Income by 313.5% in the third quarter. First Horizon Advisors Inc. now owns 947 shares of the real estate investment trust’s stock valued at $60,000 after buying an additional 718 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on O shares. Mizuho lowered Realty Income from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $64.00 to $60.00 in a research note on Thursday, November 14th. Stifel Nicolaus decreased their price target on shares of Realty Income from $70.50 to $70.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Robert W. Baird lifted their price objective on shares of Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Royal Bank of Canada cut their target price on Realty Income from $67.00 to $63.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Finally, Scotiabank lifted their price target on Realty Income from $61.00 to $64.00 and gave the stock a “sector perform” rating in a research report on Tuesday, September 17th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Realty Income currently has a consensus rating of “Hold” and an average target price of $63.85.

Insider Buying and Selling

In other news, Director Mary Hogan Preusse sold 1,712 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total transaction of $107,136.96. Following the completion of the sale, the director now owns 26,579 shares of the company’s stock, valued at $1,663,313.82. The trade was a 6.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.10% of the stock is currently owned by insiders.

Realty Income Trading Up 0.1 %

Shares of NYSE:O opened at $57.45 on Friday. The company has a market capitalization of $50.28 billion, a PE ratio of 54.71, a PEG ratio of 4.04 and a beta of 0.99. Realty Income Co. has a 12-month low of $50.65 and a 12-month high of $64.88. The business has a 50 day moving average of $60.76 and a two-hundred day moving average of $58.09. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.68.

Realty Income (NYSE:O) last announced its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.75). Realty Income had a return on equity of 2.35% and a net margin of 17.57%. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the company posted $1.02 earnings per share. The business’s quarterly revenue was up 28.1% on a year-over-year basis. As a group, analysts forecast that Realty Income Co. will post 4.19 EPS for the current year.

Realty Income Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a $0.2635 dividend. This represents a $3.16 annualized dividend and a dividend yield of 5.50%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Realty Income’s previous monthly dividend of $0.24. Realty Income’s payout ratio is currently 300.96%.

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.