NorthRock Partners LLC Acquires New Holdings in Realty Income Co. (NYSE:O)

NorthRock Partners LLC acquired a new stake in Realty Income Co. (NYSE:O) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 15,647 shares of the real estate investment trust’s stock, valued at approximately $836,000.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Realty Income by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 139,236,506 shares of the real estate investment trust’s stock valued at $7,436,622,000 after acquiring an additional 555,908 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Realty Income by 2.9% in 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 in the last quarter. Northern Trust Corp lifted its position in Realty Income by 41.2% in the 4th quarter. Northern Trust Corp now owns 13,139,719 shares of the real estate investment trust’s stock valued at $701,792,000 after acquiring an additional 3,834,403 shares in the last quarter. Norges Bank purchased a new position in shares of Realty Income during the fourth quarter valued at approximately $624,666,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Realty Income in the fourth quarter valued at about $553,572,000. Institutional investors and hedge funds own 70.81% of the company’s stock.

Realty Income Trading Up 1.4%

Shares of O opened at $55.32 on Friday. Realty Income Co. has a 1-year low of $50.71 and a 1-year high of $64.88. The firm has a market capitalization of $49.96 billion, a price-to-earnings ratio of 52.69, a PEG ratio of 2.10 and a beta of 0.78. The firm’s 50-day moving average price is $56.31 and its 200-day moving average price is $55.79. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.68.

Realty Income (NYSE:O) last announced its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $1.06 EPS for the quarter, meeting the consensus estimate of $1.06. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.28 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 9.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 earnings per share. Sell-side analysts anticipate that Realty Income Co. will post 4.19 EPS for the current year.

Realty Income Dividend Announcement

The business also recently declared a jun 25 dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be paid a $0.2685 dividend. The ex-dividend date is Monday, June 2nd. This represents a dividend yield of 5.8%. Realty Income’s payout ratio is currently 292.73%.

Analysts Set New Price Targets

O has been the topic of several research analyst reports. JPMorgan Chase & Co. cut their price objective on Realty Income from $64.00 to $61.00 and set a “neutral” rating on the stock in a research report on Monday, May 5th. Scotiabank increased their price objective on Realty Income from $57.00 to $58.00 and gave the stock a “sector perform” rating in a report on Monday. Wedbush restated a “neutral” rating and set a $61.00 price target on shares of Realty Income in a research report on Wednesday, May 7th. Mizuho lifted their price objective on shares of Realty Income from $54.00 to $59.00 and gave the stock a “neutral” rating in a report on Thursday, April 3rd. Finally, Stifel Nicolaus increased their price target on shares of Realty Income from $65.50 to $68.00 and gave the company a “buy” rating in a research report on Tuesday, May 6th. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $61.15.

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.