Meridian Wealth Management LLC Purchases New Position in Realty Income Co. (NYSE:O)

Meridian Wealth Management LLC acquired a new position in Realty Income Co. (NYSE:O) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 5,342 shares of the real estate investment trust’s stock, valued at approximately $339,000.

A number of other large investors have also recently made changes to their positions in O. Pacifica Partners Inc. boosted its position in Realty Income by 444.4% during the 2nd quarter. Pacifica Partners Inc. now owns 490 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 400 shares in the last quarter. Rosenberg Matthew Hamilton boosted its position in shares of Realty Income by 75.4% during the third quarter. Rosenberg Matthew Hamilton now owns 491 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 211 shares in the last quarter. MFA Wealth Advisors LLC purchased a new stake in Realty Income in the second quarter worth $33,000. Creative Capital Management Investments LLC raised its holdings in Realty Income by 133.3% in the third quarter. Creative Capital Management Investments LLC now owns 525 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 300 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in Realty Income during the second quarter valued at $42,000. 70.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on O. Scotiabank upped their target price on shares of Realty Income from $61.00 to $64.00 and gave the stock a “sector perform” rating in a research report on Tuesday, September 17th. Stifel Nicolaus decreased their target price on shares of Realty Income from $70.50 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Morgan Stanley reissued an “equal weight” rating and issued a $62.00 price target on shares of Realty Income in a research report on Tuesday, August 6th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $65.00 price objective (up previously from $62.00) on shares of Realty Income in a research report on Tuesday, October 1st. Finally, Royal Bank of Canada dropped their target price on Realty Income from $67.00 to $63.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $63.85.

Insider Buying and Selling at Realty Income

In related news, Director Mary Hogan Preusse sold 1,712 shares of Realty Income stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total transaction of $107,136.96. Following the transaction, the director now directly owns 26,579 shares in the company, valued at approximately $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 accessible through the SEC website. Corporate insiders own 0.10% of the company’s stock.

Realty Income Stock Performance

Shares of O stock opened at $57.45 on Monday. 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 company has a 50 day moving average price of $60.76 and a 200-day moving average price of $58.11. Realty Income Co. has a 52 week low of $50.65 and a 52 week high of $64.88. The firm has a market capitalization of $50.28 billion, a PE ratio of 54.71, a P/E/G ratio of 4.04 and a beta of 0.99.

Realty Income (NYSE:O) last posted its 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). The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.26 billion. Realty Income had a return on equity of 2.35% and a net margin of 17.57%. The company’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same period last year, the firm posted $1.02 EPS. As a group, equities research analysts expect that Realty Income Co. will post 4.19 earnings per share for the current year.

Realty Income Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a $0.2635 dividend. This represents a $3.16 annualized dividend and a yield of 5.50%. This is a boost from Realty Income’s previous monthly dividend of $0.24. The ex-dividend date is Monday, December 2nd. Realty Income’s dividend payout ratio (DPR) is presently 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.