Avantax Advisory Services Inc. Reduces Stock Position in Realty Income Co. (NYSE:O)

Avantax Advisory Services Inc. lowered its holdings in shares of Realty Income Co. (NYSE:O) by 3.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,420 shares of the real estate investment trust’s stock after selling 1,525 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Realty Income were worth $2,403,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of O. Norges Bank bought a new stake in Realty Income during the 4th quarter valued at $506,526,000. Vanguard Group Inc. raised its position in Realty Income by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 113,920,054 shares of the real estate investment trust’s stock valued at $6,541,290,000 after purchasing an additional 3,046,630 shares in the last quarter. Principal Financial Group Inc. raised its position in Realty Income by 107.1% during the 4th quarter. Principal Financial Group Inc. now owns 4,951,020 shares of the real estate investment trust’s stock valued at $284,288,000 after purchasing an additional 2,560,597 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC raised its position in Realty Income by 213.3% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,171,853 shares of the real estate investment trust’s stock valued at $124,708,000 after purchasing an additional 1,478,577 shares in the last quarter. Finally, GRS Advisors LLC bought a new stake in Realty Income during the 4th quarter valued at $58,843,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Realty Income Stock Performance

Realty Income stock traded up $1.21 during trading hours on Wednesday, hitting $57.58. 3,408,573 shares of the stock traded hands, compared to its average volume of 6,215,801. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.83 and a quick ratio of 1.83. The firm’s 50 day moving average price is $53.53 and its 200-day moving average price is $53.81. The stock has a market capitalization of $50.14 billion, a price-to-earnings ratio of 52.97, a P/E/G ratio of 4.87 and a beta of 0.96. Realty Income Co. has a 1 year low of $45.03 and a 1 year high of $64.18.

Realty Income (NYSE:O) last issued its earnings results on Monday, May 6th. The real estate investment trust reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.87). Realty Income had a return on equity of 3.26% and a net margin of 17.74%. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the company earned $0.98 EPS. The firm’s quarterly revenue was up 33.5% compared to the same quarter last year. As a group, equities analysts expect that Realty Income Co. will post 4.2 EPS for the current fiscal year.

Realty Income Announces Dividend

The business also recently announced a aug 24 dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be paid a $0.263 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a dividend yield of 5.7%. Realty Income’s payout ratio is 292.59%.

Wall Street Analyst Weigh In

O has been the subject of several recent research reports. UBS Group reduced their price target on Realty Income from $67.00 to $61.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Scotiabank boosted their price target on Realty Income from $54.00 to $56.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th. KeyCorp began coverage on Realty Income in a research note on Wednesday, June 12th. They set a “sector weight” rating on the stock. Finally, Mizuho boosted their target price on Realty Income from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $61.35.

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.