Westbourne Investments Inc. Cuts Position in Realty Income Corporation $O

Westbourne Investments Inc. trimmed its holdings in shares of Realty Income Corporation (NYSE:O) by 6.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,980 shares of the real estate investment trust’s stock after selling 320 shares during the period. Westbourne Investments Inc.’s holdings in Realty Income were worth $287,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. N.E.W. Advisory Services LLC boosted its position in Realty Income by 1.2% during the first quarter. N.E.W. Advisory Services LLC now owns 15,503 shares of the real estate investment trust’s stock valued at $899,000 after buying an additional 186 shares during the period. RB Capital Management LLC boosted its position in Realty Income by 1.1% during the second quarter. RB Capital Management LLC now owns 16,596 shares of the real estate investment trust’s stock valued at $956,000 after buying an additional 187 shares during the period. Associated Banc Corp boosted its position in Realty Income by 1.9% during the first quarter. Associated Banc Corp now owns 10,252 shares of the real estate investment trust’s stock valued at $595,000 after buying an additional 192 shares during the period. Activest Wealth Management boosted its position in Realty Income by 28.5% during the first quarter. Activest Wealth Management now owns 1,005 shares of the real estate investment trust’s stock valued at $58,000 after buying an additional 223 shares during the period. Finally, Kentucky Trust Co boosted its position in Realty Income by 2.6% during the first quarter. Kentucky Trust Co now owns 9,035 shares of the real estate investment trust’s stock valued at $524,000 after buying an additional 225 shares during the period. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on O shares. Wolfe Research lowered shares of Realty Income from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 14th. Scotiabank upped their price objective on shares of Realty Income from $58.00 to $60.00 and gave the company a “sector perform” rating in a research note on Thursday, August 28th. Mizuho upped their price objective on shares of Realty Income from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, September 11th. UBS Group upped their price objective on shares of Realty Income from $62.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, August 15th. Finally, Barclays upped their price objective on shares of Realty Income from $58.00 to $59.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 20th. Three analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Realty Income has a consensus rating of “Hold” and a consensus target price of $62.36.

Realty Income Price Performance

O stock opened at $59.99 on Wednesday. Realty Income Corporation has a 1 year low of $50.71 and a 1 year high of $64.88. The company has a market cap of $54.85 billion, a P/E ratio of 58.24, a PEG ratio of 4.60 and a beta of 0.77. The firm has a 50-day moving average of $58.03 and a 200 day moving average of $57.13. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.85 and a quick ratio of 1.85.

Realty Income (NYSE:O) last released its quarterly earnings results on Wednesday, August 6th. 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). Realty Income had a return on equity of 2.34% and a net margin of 16.77%.The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the company earned $1.07 earnings per share. Realty Income’s quarterly revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts forecast that Realty Income Corporation will post 4.19 EPS for the current year.

Realty Income Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be paid a $0.2695 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This is an increase from Realty Income’s previous monthly dividend of $0.27. This represents a c) dividend on an annualized basis and a yield of 5.4%. Realty Income’s payout ratio is currently 313.59%.

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.