Pallas Capital Advisors LLC Makes New Investment in Realty Income Corporation $O

Pallas Capital Advisors LLC purchased a new position in Realty Income Corporation (NYSE:O) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,530 shares of the real estate investment trust’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fiduciary Alliance LLC acquired a new stake in Realty Income during the 2nd quarter worth about $272,000. First Bank & Trust raised its holdings in Realty Income by 23.6% during the 2nd quarter. First Bank & Trust now owns 42,802 shares of the real estate investment trust’s stock worth $2,466,000 after buying an additional 8,169 shares during the period. Bowman & Co S.C. raised its holdings in Realty Income by 3.9% during the 2nd quarter. Bowman & Co S.C. now owns 29,502 shares of the real estate investment trust’s stock worth $1,700,000 after buying an additional 1,098 shares during the period. Czech National Bank increased its holdings in shares of Realty Income by 9.8% in the 2nd quarter. Czech National Bank now owns 220,744 shares of the real estate investment trust’s stock valued at $12,717,000 after purchasing an additional 19,722 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of Realty Income by 580.4% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 6,682 shares of the real estate investment trust’s stock valued at $385,000 after purchasing an additional 5,700 shares during the period. 70.81% of the stock is currently owned by institutional investors.

Realty Income Stock Down 0.1%

O opened at $59.08 on Tuesday. Realty Income Corporation has a 1-year low of $50.71 and a 1-year high of $64.88. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $54.01 billion, a price-to-earnings ratio of 57.36, a P/E/G ratio of 4.52 and a beta of 0.77. The business has a 50 day moving average of $58.18 and a 200-day moving average of $57.16.

Realty Income (NYSE:O) last posted its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.01). Realty Income had a net margin of 16.77% and a return on equity of 2.34%. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the company posted $1.07 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Realty Income Corporation will post 4.19 earnings per share for the current year.

Realty Income Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be given a $0.2695 dividend. This is a positive change from Realty Income’s previous monthly dividend of $0.27. This represents a c) annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Wednesday, October 1st. Realty Income’s dividend payout ratio (DPR) is currently 313.59%.

Analyst Upgrades and Downgrades

O has been the topic of a number of research reports. Scotiabank upped their target price on Realty Income from $58.00 to $60.00 and gave the company a “sector perform” rating in a report on Thursday, August 28th. Wolfe Research downgraded Realty Income from an “outperform” rating to a “peer perform” rating in a report on Monday, July 14th. UBS Group increased their price objective on Realty Income from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, August 15th. Barclays increased their price objective on Realty Income from $58.00 to $59.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 20th. Finally, Mizuho increased their price objective on Realty Income from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, September 11th. Three research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $62.36.

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.