Kovitz Investment Group Partners LLC Grows Holdings in Realty Income Co. (NYSE:O)

Kovitz Investment Group Partners LLC boosted its holdings in shares of Realty Income Co. (NYSE:O) by 2,370.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 78,118 shares of the real estate investment trust’s stock after purchasing an additional 74,956 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Realty Income were worth $4,172,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Realty Income during the fourth quarter worth about $624,666,000. Raymond James Financial Inc. purchased a new stake in Realty Income in the 4th quarter valued at approximately $553,572,000. California Public Employees Retirement System increased its position in Realty Income by 26.7% during the 4th quarter. California Public Employees Retirement System now owns 3,849,998 shares of the real estate investment trust’s stock worth $205,628,000 after purchasing an additional 811,037 shares during the period. Geode Capital Management LLC increased its position in Realty Income by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 23,473,694 shares of the real estate investment trust’s stock worth $1,253,584,000 after purchasing an additional 658,240 shares during the period. Finally, Demars Financial Group LLC purchased a new position in shares of Realty Income during the 4th quarter worth approximately $30,817,000. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on O shares. Stifel Nicolaus dropped their price objective on Realty Income from $70.00 to $66.50 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Mizuho upped their price target on shares of Realty Income from $54.00 to $59.00 and gave the stock a “neutral” rating in a research note on Thursday, April 3rd. BNP Paribas cut shares of Realty Income from an “outperform” rating to a “neutral” rating and set a $61.00 price objective for the company. in a research note on Tuesday, February 25th. Royal Bank of Canada lowered their target price on shares of Realty Income from $62.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Finally, Scotiabank reduced their price target on shares of Realty Income from $59.00 to $57.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $62.35.

Realty Income Stock Down 0.4 %

Shares of NYSE:O opened at $56.89 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 market capitalization of $50.74 billion, a P/E ratio of 54.19, a P/E/G ratio of 2.10 and a beta of 0.79. Realty Income Co. has a 52-week low of $50.71 and a 52-week high of $64.88. The stock’s fifty day simple moving average is $56.50 and its 200-day simple moving average is $56.34.

Realty Income (NYSE:O) last released its earnings results on Monday, February 24th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.01). The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Realty Income had a net margin of 17.57% and a return on equity of 2.35%. As a group, equities research analysts forecast that Realty Income Co. will post 4.19 earnings per share for the current fiscal year.

Realty Income Announces Dividend

The company also recently announced a may 25 dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be paid a $0.2685 dividend. The ex-dividend date is Thursday, May 1st. This represents a yield of 6%. Realty Income’s payout ratio is currently 328.57%.

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.