Novare Capital Management LLC Sells 679 Shares of Realty Income Co. (NYSE:O)

Novare Capital Management LLC lowered its position in Realty Income Co. (NYSE:O) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 150,162 shares of the real estate investment trust’s stock after selling 679 shares during the quarter. Novare Capital Management LLC’s holdings in Realty Income were worth $8,020,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Ensign Peak Advisors Inc increased its stake in Realty Income by 11.6% in the second quarter. Ensign Peak Advisors Inc now owns 44,128 shares of the real estate investment trust’s stock worth $2,331,000 after purchasing an additional 4,570 shares during the period. AQR Capital Management LLC grew its holdings in shares of Realty Income by 23.1% in the second quarter. AQR Capital Management LLC now owns 264,829 shares of the real estate investment trust’s stock worth $13,835,000 after purchasing an additional 49,629 shares during the last quarter. APG Asset Management N.V. boosted its holdings in shares of Realty Income by 220.5% in the second quarter. APG Asset Management N.V. now owns 105,968 shares of the real estate investment trust’s stock valued at $5,223,000 after purchasing an additional 72,900 shares during the period. MBB Public Markets I LLC grew its stake in Realty Income by 279.8% in the second quarter. MBB Public Markets I LLC now owns 60,815 shares of the real estate investment trust’s stock worth $3,212,000 after purchasing an additional 44,801 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Realty Income by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 602,672 shares of the real estate investment trust’s stock worth $31,833,000 after purchasing an additional 11,448 shares in the last quarter. Institutional investors own 70.81% of the company’s stock.

Realty Income Stock Performance

Shares of O opened at $54.35 on Friday. Realty Income Co. has a 12 month low of $50.65 and a 12 month high of $64.88. The stock has a fifty day moving average price of $54.68 and a 200-day moving average price of $58.39. 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 cap of $47.57 billion, a PE ratio of 51.77, a P/E/G ratio of 1.93 and a beta of 1.00.

Realty Income (NYSE:O) last released its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.75). Realty Income had a net margin of 17.57% and a return on equity of 2.35%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the business posted $1.02 earnings per share. The company’s quarterly revenue was up 28.1% compared to the same quarter last year. Equities research analysts predict that Realty Income Co. will post 4.19 earnings per share for the current fiscal year.

Realty Income Announces Dividend

The business also recently announced a feb 25 dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.264 per share. This represents a yield of 5.9%. The ex-dividend date of this dividend is Monday, February 3rd. Realty Income’s dividend payout ratio is presently 301.91%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Royal Bank of Canada lowered their target price on Realty Income from $67.00 to $63.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Stifel Nicolaus lowered their price objective on shares of Realty Income from $70.00 to $66.50 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Scotiabank dropped their target price on shares of Realty Income from $61.00 to $59.00 and set a “sector perform” rating on the stock in a report on Thursday, January 16th. Barclays began coverage on shares of Realty Income in a report on Tuesday, December 17th. They issued an “equal weight” rating and a $59.00 price target for the company. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $65.00 price objective (up from $62.00) on shares of Realty Income in a report on Tuesday, October 1st. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $62.12.

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.