Realty Income Co. (NYSE:O) Shares Purchased by Bay Rivers Group

Bay Rivers Group raised its holdings in shares of Realty Income Co. (NYSE:O) by 7.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,189 shares of the real estate investment trust’s stock after purchasing an additional 1,545 shares during the quarter. Bay Rivers Group’s holdings in Realty Income were worth $1,287,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Lee Danner & Bass Inc. bought a new position in Realty Income during the 4th quarter worth approximately $28,000. Hopwood Financial Services Inc. bought a new position in Realty Income during the 4th quarter worth approximately $29,000. Sierra Ocean LLC bought a new position in Realty Income during the 4th quarter worth approximately $32,000. Millstone Evans Group LLC bought a new position in Realty Income during the 4th quarter worth approximately $34,000. Finally, Fourth Dimension Wealth LLC bought a new position in Realty Income during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 70.81% of the company’s stock.

Realty Income Stock Performance

Shares of NYSE O opened at $55.99 on Thursday. The business has a fifty day simple moving average of $56.20 and a 200 day simple moving average of $55.59. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $50.56 billion, a price-to-earnings ratio of 53.32, a PEG ratio of 2.10 and a beta of 0.78. Realty Income Co. has a one year low of $50.71 and a one year high of $64.88.

Realty Income (NYSE:O) last issued its earnings results on Monday, May 5th. The real estate investment trust reported $1.06 EPS for the quarter, meeting analysts’ consensus estimates of $1.06. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.28 billion. Realty Income had a return on equity of 2.35% and a net margin of 17.57%. Realty Income’s revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 earnings per share. Sell-side analysts expect that Realty Income Co. will post 4.19 EPS for the current year.

Realty Income Announces Dividend

The company also recently announced a jun 25 dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be paid a $0.2685 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a dividend yield of 5.8%. Realty Income’s payout ratio is 292.73%.

Analyst Ratings Changes

A number of research analysts have commented on O shares. Royal Bank of Canada reduced their target price on Realty Income from $62.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. JPMorgan Chase & Co. cut their price target on Realty Income from $64.00 to $61.00 and set a “neutral” rating on the stock in a report on Monday, May 5th. UBS Group cut their price target on Realty Income from $64.00 to $62.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Scotiabank raised their price target on Realty Income from $57.00 to $58.00 and gave the stock a “sector perform” rating in a report on Monday, May 12th. Finally, Wedbush reissued a “neutral” rating and issued a $61.00 price target on shares of Realty Income in a report on Wednesday, May 7th. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $61.15.

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.