Highland Capital Management LLC Trims Position in Realty Income Co. (NYSE:O)

Highland Capital Management LLC trimmed its position in Realty Income Co. (NYSE:O) by 5.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 57,375 shares of the real estate investment trust’s stock after selling 3,180 shares during the period. Highland Capital Management LLC’s holdings in Realty Income were worth $3,639,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Realty Income by 24.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 129,096 shares of the real estate investment trust’s stock valued at $6,984,000 after acquiring an additional 25,743 shares during the period. Independence Bank of Kentucky purchased a new stake in Realty Income in the first quarter worth about $187,000. Toth Financial Advisory Corp raised its stake in shares of Realty Income by 92.8% in the first quarter. Toth Financial Advisory Corp now owns 2,065 shares of the real estate investment trust’s stock worth $112,000 after buying an additional 994 shares during the period. Founders Financial Securities LLC lifted its position in shares of Realty Income by 2.9% during the 1st quarter. Founders Financial Securities LLC now owns 21,029 shares of the real estate investment trust’s stock valued at $1,138,000 after buying an additional 598 shares in the last quarter. Finally, Miracle Mile Advisors LLC grew its stake in shares of Realty Income by 2.7% during the 1st quarter. Miracle Mile Advisors LLC now owns 20,257 shares of the real estate investment trust’s stock valued at $1,096,000 after acquiring an additional 531 shares during the period. 70.81% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other 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 value 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Mary Hogan Preusse sold 1,712 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total value of $107,136.96. Following the sale, the director now directly owns 26,579 shares in the company, 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 can be accessed through the SEC website. Also, Director A. Larry Chapman sold 5,000 shares of the business’s 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 transaction, the director now owns 5,257 shares of the company’s stock, valued at approximately $319,467.89. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on O. Stifel Nicolaus raised their target price on shares of Realty Income from $67.50 to $70.25 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $62.00 target price on shares of Realty Income in a report on Tuesday, August 6th. Wedbush initiated coverage on Realty Income in a report on Monday, August 19th. They set a “neutral” rating and a $64.00 price target on the stock. UBS Group upped their price objective on Realty Income from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Robert W. Baird increased their target price on Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $63.94.

Realty Income Stock Performance

Shares of NYSE:O opened at $61.31 on Friday. The firm has a fifty day simple moving average of $62.35 and a two-hundred day simple moving average of $57.43. Realty Income Co. has a 52 week low of $45.03 and a 52 week high of $64.88. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $53.39 billion, a P/E ratio of 56.77, a PEG ratio of 4.43 and a beta of 0.99.

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

Realty Income Announces Dividend

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

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.