King Luther Capital Management Corp Decreases Stake in Realty Income Co. (NYSE:O)

King Luther Capital Management Corp lessened its holdings in shares of Realty Income Co. (NYSE:O) by 82.0% in the 3rd quarter, Holdings Channel reports. The fund owned 5,922 shares of the real estate investment trust’s stock after selling 26,899 shares during the quarter. King Luther Capital Management Corp’s holdings in Realty Income were worth $376,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of O. Atlanta Consulting Group Advisors LLC acquired a new position in shares of Realty Income during the 3rd quarter valued at about $896,000. Code Waechter LLC purchased a new stake in shares of Realty Income in the 3rd quarter valued at approximately $1,308,000. Swiss National Bank increased its holdings in shares of Realty Income by 1.4% during the 3rd quarter. Swiss National Bank now owns 2,584,694 shares of the real estate investment trust’s stock worth $163,921,000 after buying an additional 35,100 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Realty Income by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 2,190,739 shares of the real estate investment trust’s stock valued at $138,937,000 after buying an additional 74,185 shares during the period. Finally, Natixis Advisors LLC lifted its holdings in Realty Income by 6.5% in the third quarter. Natixis Advisors LLC now owns 302,343 shares of the real estate investment trust’s stock valued at $19,175,000 after acquiring an additional 18,409 shares during the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

Realty Income Price Performance

Shares of NYSE O opened at $57.45 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.40. The company has a market cap of $50.28 billion, a price-to-earnings ratio of 54.71, a price-to-earnings-growth ratio of 4.04 and a beta of 0.99. The stock’s 50-day moving average is $60.76 and its two-hundred day moving average is $58.09. Realty Income Co. has a 1-year low of $50.65 and a 1-year high of $64.88.

Realty Income (NYSE:O) last issued its 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). Realty Income had a net margin of 17.57% and a return on equity of 2.35%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the business earned $1.02 EPS. The firm’s revenue was up 28.1% compared to the same quarter last year. Analysts forecast that Realty Income Co. will post 4.19 EPS for the current fiscal year.

Realty Income Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be issued a $0.2635 dividend. This represents a $3.16 annualized dividend and a yield of 5.50%. The ex-dividend date is Monday, December 2nd. This is a positive change from Realty Income’s previous monthly dividend of $0.24. Realty Income’s dividend payout ratio is 300.96%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on O shares. Stifel Nicolaus reduced their target price on Realty Income from $70.50 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Royal Bank of Canada decreased their target price on shares of Realty Income from $67.00 to $63.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Mizuho lowered shares of Realty Income from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $64.00 to $60.00 in a research note on Thursday, November 14th. JPMorgan Chase & Co. boosted their price target on shares of Realty Income from $60.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $65.00 price objective (up previously from $62.00) on shares of Realty Income in a research report on Tuesday, October 1st. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $63.85.

Insiders Place Their Bets

In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total transaction of $107,136.96. Following the sale, the director now owns 26,579 shares of the company’s stock, valued at approximately $1,663,313.82. This trade represents a 6.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is owned by company insiders.

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.