Meridian Wealth Advisors LLC Grows Stock Position in Realty Income Corporation (NYSE:O)

Meridian Wealth Advisors LLC grew its position in Realty Income Corporation (NYSE:O) by 62.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,311 shares of the real estate investment trust’s stock after buying an additional 28,923 shares during the quarter. Meridian Wealth Advisors LLC’s holdings in Realty Income were worth $4,369,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Realty Income by 0.4% during the 4th 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 buying an additional 555,908 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Realty Income by 2.9% in the fourth 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 acquiring an additional 658,240 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Realty Income by 41.2% during the fourth quarter. Northern Trust Corp now owns 13,139,719 shares of the real estate investment trust’s stock valued at $701,792,000 after buying an additional 3,834,403 shares during the last quarter. Norges Bank bought a new stake in shares of Realty Income during the fourth quarter valued at approximately $624,666,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Realty Income by 2.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,318,686 shares of the real estate investment trust’s stock valued at $230,663,000 after acquiring an additional 110,694 shares during the period. 70.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on O. Wolfe Research lowered Realty Income from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 14th. Wedbush restated a “neutral” rating and set a $61.00 price target on shares of Realty Income in a report on Wednesday, May 7th. Scotiabank lifted their price objective on shares of Realty Income from $57.00 to $58.00 and gave the company a “sector perform” rating in a research note on Monday, May 12th. Barclays reaffirmed an “overweight” rating on shares of Realty Income in a research note on Tuesday, April 22nd. Finally, Mizuho lifted their price objective on shares of Realty Income from $54.00 to $59.00 and gave the company a “neutral” rating in a research note on Thursday, April 3rd. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Realty Income has an average rating of “Hold” and an average price target of $61.15.

Realty Income Price Performance

Shares of NYSE:O opened at $56.47 on Friday. The firm has a 50 day moving average of $56.77 and a 200-day moving average of $56.03. The stock has a market capitalization of $51.00 billion, a PE ratio of 51.34, a PEG ratio of 3.96 and a beta of 0.75. Realty Income Corporation has a 12 month low of $50.71 and a 12 month high of $64.88. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.69.

Realty Income (NYSE:O) last posted its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $1.06 EPS for the quarter, meeting analysts’ consensus estimates of $1.06. Realty Income had a net margin of 18.15% and a return on equity of 2.51%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the firm posted $1.03 EPS. The company’s quarterly revenue was up 9.5% on a year-over-year basis. On average, equities research analysts predict that Realty Income Corporation will post 4.19 EPS for the current fiscal year.

Realty Income Dividend Announcement

The firm also recently declared a aug 25 dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be given a dividend of $0.269 per share. This represents a dividend yield of 5.7%. The ex-dividend date is Friday, August 1st. Realty Income’s payout ratio is currently 293.64%.

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.