Novare Capital Management LLC Acquires 1,449 Shares of Realty Income Co. (NYSE:O)

Novare Capital Management LLC raised its stake in Realty Income Co. (NYSE:O) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 150,841 shares of the real estate investment trust’s stock after buying an additional 1,449 shares during the period. Novare Capital Management LLC’s holdings in Realty Income were worth $9,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Realty Income by 18.3% in the 1st quarter. Vanguard Group Inc. now owns 134,768,614 shares of the real estate investment trust’s stock worth $7,290,982,000 after purchasing an additional 20,848,560 shares during the period. Legal & General Group Plc lifted its position in shares of Realty Income by 4.5% in the 2nd quarter. Legal & General Group Plc now owns 12,258,468 shares of the real estate investment trust’s stock worth $647,492,000 after purchasing an additional 531,008 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Realty Income by 3.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,682,105 shares of the real estate investment trust’s stock worth $617,043,000 after purchasing an additional 413,865 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of Realty Income by 2.2% in the 1st quarter. Daiwa Securities Group Inc. now owns 9,214,683 shares of the real estate investment trust’s stock worth $498,514,000 after purchasing an additional 196,635 shares during the period. Finally, APG Asset Management US Inc. lifted its position in shares of Realty Income by 3.1% in the 2nd quarter. APG Asset Management US Inc. now owns 8,680,325 shares of the real estate investment trust’s stock worth $454,502,000 after purchasing an additional 265,000 shares during the period. 70.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Realty Income

In other news, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $60.77, for a total value of $303,850.00. Following the sale, the director now owns 5,257 shares in the company, valued at $319,467.89. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Mary Hogan Preusse sold 1,712 shares of the stock in a transaction 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 directly owns 26,579 shares of the company’s stock, valued at approximately $1,663,313.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $60.77, for a total transaction of $303,850.00. Following the sale, the director now directly owns 5,257 shares in the company, valued at $319,467.89. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on O. Royal Bank of Canada upped their price target on shares of Realty Income from $58.00 to $64.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Wedbush initiated coverage on shares of Realty Income in a research note on Monday, August 19th. They set a “neutral” rating and a $64.00 price objective for the company. Scotiabank boosted their price objective on shares of Realty Income from $61.00 to $64.00 and gave the stock a “sector perform” rating in a research note on Tuesday, September 17th. Morgan Stanley reiterated an “equal weight” rating and set a $62.00 price objective on shares of Realty Income in a research note on Tuesday, August 6th. Finally, UBS Group boosted their price objective on shares of Realty Income from $61.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Realty Income has a consensus rating of “Hold” and a consensus price target of $63.63.

Realty Income Stock Performance

Realty Income stock traded up $0.49 during mid-day trading on Monday, reaching $62.24. 776,161 shares of the company traded hands, compared to its average volume of 5,745,293. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.39 and a quick ratio of 1.39. Realty Income Co. has a fifty-two week low of $45.03 and a fifty-two week high of $63.60. The company has a market capitalization of $54.20 billion, a price-to-earnings ratio of 57.46, a price-to-earnings-growth ratio of 4.30 and a beta of 0.99. The firm’s fifty day moving average is $61.67 and its two-hundred day moving average is $56.75.

Realty Income (NYSE:O) last issued its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.22 billion. Realty Income had a net margin of 17.89% and a return on equity of 2.36%. The company’s revenue for the quarter was up 31.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 EPS. On average, equities research analysts expect that Realty Income Co. will post 4.2 earnings per share for the current fiscal year.

Realty Income Announces Dividend

The firm also recently disclosed a nov 24 dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a $0.2635 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a dividend yield of 5.1%. Realty Income’s payout ratio is currently 292.59%.

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.