Independent Advisor Alliance Has $1.39 Million Position in Realty Income Co. (NYSE:O)

Independent Advisor Alliance lifted its holdings in shares of Realty Income Co. (NYSE:O) by 7.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,958 shares of the real estate investment trust’s stock after buying an additional 1,571 shares during the period. Independent Advisor Alliance’s holdings in Realty Income were worth $1,393,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. ZWJ Investment Counsel Inc. raised its position in Realty Income by 0.6% during the third quarter. ZWJ Investment Counsel Inc. now owns 29,279 shares of the real estate investment trust’s stock worth $1,857,000 after acquiring an additional 164 shares in the last quarter. Whittier Trust Co. increased its stake in shares of Realty Income by 4.5% during the 3rd quarter. Whittier Trust Co. now owns 3,871 shares of the real estate investment trust’s stock worth $245,000 after purchasing an additional 166 shares during the last quarter. Greenleaf Trust raised its holdings in shares of Realty Income by 1.0% in the 3rd quarter. Greenleaf Trust now owns 16,911 shares of the real estate investment trust’s stock valued at $1,072,000 after purchasing an additional 170 shares during the period. Grove Bank & Trust increased its position in Realty Income by 14.3% during the third quarter. Grove Bank & Trust now owns 1,409 shares of the real estate investment trust’s stock worth $89,000 after buying an additional 176 shares during the last quarter. Finally, Buckley Wealth Management LLC raised its stake in Realty Income by 1.9% in the third quarter. Buckley Wealth Management LLC now owns 9,450 shares of the real estate investment trust’s stock valued at $599,000 after buying an additional 176 shares during the period. Institutional investors own 70.81% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Morgan Stanley reiterated 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 reduced their price objective on shares of Realty Income from $70.50 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Royal Bank of Canada dropped their price objective on shares of Realty Income from $67.00 to $63.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Mizuho downgraded shares of Realty Income from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $64.00 to $60.00 in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Realty Income from $60.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $63.85.

Insider Activity at Realty Income

In other news, Director Mary Hogan Preusse sold 1,712 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 26,579 shares in the company, valued at approximately $1,663,313.82. This trade represents a 6.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.10% of the stock is currently owned by insiders.

Realty Income Trading Up 0.5 %

Shares of NYSE:O opened at $57.74 on Wednesday. The business’s 50 day simple moving average is $60.56 and its 200 day simple moving average is $58.15. Realty Income Co. has a 1 year low of $50.65 and a 1 year high of $64.88. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.40. The company has a market capitalization of $50.53 billion, a P/E ratio of 54.99, a P/E/G ratio of 4.04 and a beta of 0.99.

Realty Income (NYSE:O) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.30 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 company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the business posted $1.02 EPS. The firm’s revenue for the quarter was up 28.1% on a year-over-year basis. On average, research analysts anticipate that Realty Income Co. will post 4.19 EPS for the current fiscal year.

Realty Income Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be given a dividend of $0.2635 per share. This is a positive change from Realty Income’s previous monthly dividend of $0.24. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $3.16 annualized dividend and a dividend yield of 5.48%. Realty Income’s dividend payout ratio (DPR) is currently 300.95%.

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.