Freestone Grove Partners LP Takes Position in Realty Income Co. (NYSE:O)

Freestone Grove Partners LP acquired a new stake in Realty Income Co. (NYSE:O) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 31,663 shares of the real estate investment trust’s stock, valued at approximately $1,691,000.

A number of other institutional investors have also recently modified their holdings of O. World Investment Advisors LLC acquired a new position in Realty Income during the third quarter valued at approximately $1,411,000. Wilmington Savings Fund Society FSB bought a new position in shares of Realty Income in the 3rd quarter valued at $1,032,000. Tidal Investments LLC raised its holdings in shares of Realty Income by 39.2% during the 3rd quarter. Tidal Investments LLC now owns 35,097 shares of the real estate investment trust’s stock worth $2,215,000 after buying an additional 9,891 shares in the last quarter. Peapack Gladstone Financial Corp lifted its position in shares of Realty Income by 0.7% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 71,562 shares of the real estate investment trust’s stock worth $4,538,000 after buying an additional 518 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Realty Income by 4.2% during the 3rd quarter. Franklin Resources Inc. now owns 559,263 shares of the real estate investment trust’s stock worth $34,736,000 after buying an additional 22,614 shares during the last quarter. 70.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. BNP Paribas downgraded Realty Income from an “outperform” rating to a “neutral” rating and set a $61.00 target price for the company. in a research note on Tuesday, February 25th. Stifel Nicolaus lowered their price objective on shares of Realty Income from $70.00 to $66.50 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Barclays reaffirmed an “overweight” rating on shares of Realty Income in a research note on Tuesday, April 22nd. Royal Bank of Canada dropped their price target on Realty Income from $62.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Finally, Mizuho raised their price objective on Realty Income from $54.00 to $59.00 and gave the company a “neutral” rating in a report on Thursday, April 3rd. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $62.35.

Realty Income Price Performance

Realty Income stock opened at $56.94 on Friday. The firm has a market cap of $50.78 billion, a P/E ratio of 54.23, a P/E/G ratio of 2.10 and a beta of 0.78. The stock’s 50 day moving average is $56.58 and its 200 day moving average is $56.25. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.40. Realty Income Co. has a one year low of $50.71 and a one year high of $64.88.

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

Realty Income Dividend Announcement

The firm also recently disclosed a may 25 dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be given a $0.2685 dividend. This represents a dividend yield of 6%. The ex-dividend date is Thursday, May 1st. Realty Income’s dividend payout ratio (DPR) is presently 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.