Novare Capital Management LLC Sells 679 Shares of Realty Income Co. (NYSE:O)

Novare Capital Management LLC lowered its position in shares of Realty Income Co. (NYSE:O) by 0.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 150,162 shares of the real estate investment trust’s stock after selling 679 shares during the quarter. Novare Capital Management LLC’s holdings in Realty Income were worth $8,020,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. ZWJ Investment Counsel Inc. grew its holdings in Realty Income by 0.6% during the third quarter. ZWJ Investment Counsel Inc. now owns 29,279 shares of the real estate investment trust’s stock valued at $1,857,000 after purchasing an additional 164 shares during the period. Whittier Trust Co. boosted its position in shares of Realty Income by 4.5% during the 3rd quarter. Whittier Trust Co. now owns 3,871 shares of the real estate investment trust’s stock valued at $245,000 after acquiring an additional 166 shares during the last quarter. Greenleaf Trust grew its stake in Realty Income by 1.0% in the 3rd quarter. Greenleaf Trust now owns 16,911 shares of the real estate investment trust’s stock worth $1,072,000 after buying an additional 170 shares in the last quarter. Grove Bank & Trust increased its stake in Realty Income by 14.3% in the third quarter. Grove Bank & Trust now owns 1,409 shares of the real estate investment trust’s stock valued at $89,000 after acquiring an additional 176 shares during the last quarter. Finally, Buckley Wealth Management LLC increased its position in shares of Realty Income by 1.9% during the 3rd quarter. Buckley Wealth Management LLC now owns 9,450 shares of the real estate investment trust’s stock valued at $599,000 after purchasing an additional 176 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Realty Income Stock Up 0.4 %

Realty Income stock opened at $54.35 on Friday. The firm has a market cap of $47.57 billion, a price-to-earnings ratio of 51.77, a PEG ratio of 1.93 and a beta of 1.00. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.68. The stock has a fifty day simple moving average of $54.68 and a two-hundred day simple moving average of $58.39. Realty Income Co. has a 12 month low of $50.65 and a 12 month high of $64.88.

Realty Income (NYSE:O) last posted its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.75). The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.26 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 28.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.02 earnings per share. Equities analysts predict that Realty Income Co. will post 4.19 EPS for the current fiscal year.

Realty Income Announces Dividend

The company also recently declared a feb 25 dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be issued a dividend of $0.264 per share. This represents a yield of 5.9%. The ex-dividend date of this dividend is Monday, February 3rd. Realty Income’s dividend payout ratio is presently 301.91%.

Analyst Upgrades and Downgrades

O has been the topic of several recent research reports. Stifel Nicolaus reduced their price target on Realty Income from $70.00 to $66.50 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. UBS Group cut their target price on shares of Realty Income from $72.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Mizuho lowered their price target on shares of Realty Income from $60.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Royal Bank of Canada cut their price target on shares of Realty Income from $67.00 to $63.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $65.00 price objective (up from $62.00) on shares of Realty Income in a research note on Tuesday, October 1st. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $62.12.

Realty Income Profile

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.