Bright Futures Wealth Management LLC. Acquires New Position in Realty Income Co. (NYSE:O)

Bright Futures Wealth Management LLC. bought a new position in shares of Realty Income Co. (NYSE:O) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,921 shares of the real estate investment trust’s stock, valued at approximately $577,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Founders Financial Securities LLC raised its position in shares of Realty Income by 0.9% during the 2nd quarter. Founders Financial Securities LLC now owns 21,210 shares of the real estate investment trust’s stock valued at $1,120,000 after buying an additional 181 shares during the period. Essex Financial Services Inc. raised its position in Realty Income by 1.5% in the first quarter. Essex Financial Services Inc. now owns 13,420 shares of the real estate investment trust’s stock valued at $726,000 after purchasing an additional 199 shares during the period. Crossmark Global Holdings Inc. lifted its stake in shares of Realty Income by 0.6% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 35,285 shares of the real estate investment trust’s stock valued at $1,864,000 after purchasing an additional 199 shares during the last quarter. Optimum Investment Advisors grew its holdings in shares of Realty Income by 11.1% during the 2nd quarter. Optimum Investment Advisors now owns 2,000 shares of the real estate investment trust’s stock worth $106,000 after purchasing an additional 200 shares during the period. Finally, MeadowBrook Investment Advisors LLC grew its holdings in shares of Realty Income by 3.4% during the 2nd quarter. MeadowBrook Investment Advisors LLC now owns 6,092 shares of the real estate investment trust’s stock worth $322,000 after purchasing an additional 200 shares during the period. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Realty Income

In related news, Director A. Larry Chapman sold 5,000 shares of Realty Income stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $60.77, for a total transaction of $303,850.00. Following the sale, the director now directly owns 5,257 shares in the company, valued at approximately $319,467.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Morgan Stanley reiterated an “equal weight” rating and set a $62.00 price target on shares of Realty Income in a research report on Tuesday, August 6th. Robert W. Baird lifted their target price on shares of Realty Income from $57.00 to $58.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Wells Fargo & Company upped their price target on Realty Income from $57.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Monday, August 26th. Scotiabank lifted their price objective on Realty Income from $56.00 to $61.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Finally, Royal Bank of Canada increased their target price on Realty Income from $58.00 to $64.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $62.38.

Realty Income Stock Performance

Shares of Realty Income stock opened at $62.86 on Tuesday. The business has a 50-day simple moving average of $58.69 and a 200-day simple moving average of $55.09. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.39 and a current ratio of 1.39. Realty Income Co. has a one year low of $45.03 and a one year high of $63.39. The company has a market cap of $54.74 billion, a PE ratio of 58.20, a P/E/G ratio of 4.64 and a beta of 0.99.

Realty Income (NYSE:O) last released its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.07). The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Realty Income had a return on equity of 3.27% and a net margin of 17.89%. Realty Income’s revenue for the quarter was up 31.4% on a year-over-year basis. During the same period last year, the firm posted $1.00 earnings per share. On average, equities research analysts forecast that Realty Income Co. will post 3.93 EPS for the current fiscal year.

Realty Income Announces Dividend

The firm also recently declared a sep 24 dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be issued a $0.263 dividend. This represents a yield of 5.2%. The ex-dividend date of this dividend is Tuesday, September 3rd. Realty Income’s dividend payout ratio (DPR) is 292.59%.

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.