Naviter Wealth LLC Cuts Stake in Realty Income Co. (NYSE:O)

Naviter Wealth LLC reduced its position in shares of Realty Income Co. (NYSE:O) by 7.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 45,164 shares of the real estate investment trust’s stock after selling 3,697 shares during the quarter. Naviter Wealth LLC’s holdings in Realty Income were worth $2,864,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in O. ZWJ Investment Counsel Inc. increased its stake in shares of 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 valued at $1,857,000 after buying an additional 164 shares during the period. FLC Capital Advisors lifted its position in shares of Realty Income by 28.1% in the 3rd quarter. FLC Capital Advisors now owns 5,136 shares of the real estate investment trust’s stock worth $326,000 after purchasing an additional 1,128 shares during the period. Griffin Asset Management Inc. boosted its stake in shares of Realty Income by 16.1% during the 3rd quarter. Griffin Asset Management Inc. now owns 26,857 shares of the real estate investment trust’s stock valued at $1,703,000 after purchasing an additional 3,723 shares in the last quarter. Jamison Private Wealth Management Inc. raised its stake in Realty Income by 18.4% in the third quarter. Jamison Private Wealth Management Inc. now owns 23,530 shares of the real estate investment trust’s stock worth $1,492,000 after buying an additional 3,651 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC lifted its holdings in Realty Income by 3.0% in the third quarter. Foster Victor Wealth Advisors LLC now owns 102,921 shares of the real estate investment trust’s stock worth $6,362,000 after buying an additional 2,960 shares during the period. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Realty Income Trading Down 0.8 %

O traded down $0.51 during trading on Thursday, reaching $63.72. The company had a trading volume of 90,435 shares, compared to its average volume of 5,708,929. Realty Income Co. has a 52 week low of $45.03 and a 52 week high of $64.30. The stock has a market cap of $55.49 billion, a P/E ratio of 59.49, a PEG ratio of 4.30 and a beta of 0.99. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.66. The business has a 50 day simple moving average of $61.87 and a 200-day simple moving average of $56.92.

Realty Income (NYSE:O) last released its earnings results on Monday, August 5th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). Realty Income had a net margin of 17.89% and a return on equity of 2.36%. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the company posted $1.00 EPS. The company’s quarterly revenue was up 31.4% compared to the same quarter last year. On average, equities analysts anticipate that Realty Income Co. will post 4.2 EPS for the current fiscal year.

Realty Income Announces Dividend

The business also recently announced a nov 24 dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a $0.2635 dividend. The ex-dividend date is Friday, November 1st. This represents a yield of 5.1%. Realty Income’s dividend payout ratio is currently 292.59%.

Wall Street Analyst Weigh In

Several brokerages have commented on O. Scotiabank raised their price objective on Realty Income from $61.00 to $64.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 17th. Royal Bank of Canada boosted their price objective on shares of Realty Income from $58.00 to $64.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. UBS Group raised their target price on shares of Realty Income from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company restated an “equal weight” rating and issued a $65.00 price target (up previously from $62.00) on shares of Realty Income in a research note on Tuesday, October 1st. Finally, Wedbush assumed coverage on Realty Income in a research note on Monday, August 19th. They set a “neutral” rating and a $64.00 price objective for the company. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $63.94.

Insider Transactions at Realty Income

In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $60.77, for a total value of $303,850.00. Following the completion of the sale, the director now directly owns 5,257 shares in the company, valued at approximately $319,467.89. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of Realty Income stock in a transaction that occurred on 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 directly owns 26,579 shares in the company, valued at approximately $1,663,313.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director A. Larry Chapman sold 5,000 shares of the company’s 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 completion of the sale, the director now directly owns 5,257 shares in the company, valued at $319,467.89. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Realty Income Company 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.