NewEdge Wealth LLC Sells 2,100 Shares of Realty Income Co. (NYSE:O)

NewEdge Wealth LLC reduced its stake in Realty Income Co. (NYSE:O) by 5.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 33,685 shares of the real estate investment trust’s stock after selling 2,100 shares during the quarter. NewEdge Wealth LLC’s holdings in Realty Income were worth $1,934,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Portside Wealth Group LLC purchased a new stake in Realty Income during the 2nd quarter valued at $695,000. Dynamic Advisor Solutions LLC boosted its stake in Realty Income by 6.8% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 6,339 shares of the real estate investment trust’s stock valued at $317,000 after purchasing an additional 403 shares during the last quarter. LexAurum Advisors LLC purchased a new stake in Realty Income during the 4th quarter valued at $203,000. Vest Financial LLC boosted its stake in shares of Realty Income by 50.3% in the 4th quarter. Vest Financial LLC now owns 540,531 shares of the real estate investment trust’s stock worth $31,037,000 after buying an additional 180,974 shares during the last quarter. Finally, Sowell Financial Services LLC boosted its stake in shares of Realty Income by 21.0% in the 4th quarter. Sowell Financial Services LLC now owns 21,230 shares of the real estate investment trust’s stock worth $1,224,000 after buying an additional 3,681 shares during the last quarter. 70.81% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $54.23, for a total transaction of $271,150.00. Following the completion of the transaction, the director now owns 6,257 shares in the company, valued at $339,317.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus dropped their price target on Realty Income from $67.75 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. Mizuho dropped their price target on Realty Income from $60.00 to $56.00 and set a “buy” rating on the stock in a research note on Thursday, March 7th. BMO Capital Markets assumed coverage on Realty Income in a research note on Tuesday, February 13th. They issued a “market perform” rating and a $57.00 price target on the stock. Royal Bank of Canada raised their target price on Realty Income from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, January 11th. Finally, StockNews.com raised Realty Income from a “sell” rating to a “hold” rating in a report on Thursday, February 8th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Realty Income currently has a consensus rating of “Hold” and an average price target of $60.96.

Realty Income Price Performance

NYSE:O opened at $52.02 on Monday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.64. The business’s 50-day simple moving average is $52.63 and its two-hundred day simple moving average is $53.32. The stock has a market cap of $44.80 billion, a PE ratio of 41.29, a P/E/G ratio of 5.40 and a beta of 0.92. Realty Income Co. has a 52 week low of $45.03 and a 52 week high of $64.18.

Realty Income (NYSE:O) last issued its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.72). The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Realty Income had a net margin of 21.39% and a return on equity of 4.06%. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 EPS. As a group, analysts forecast that Realty Income Co. will post 4.16 EPS for the current fiscal year.

Realty Income Announces Dividend

The business also recently declared a may 24 dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a $0.257 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a yield of 5.9%. Realty Income’s dividend payout ratio is currently 244.45%.

Realty Income Company 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.