Fort Pitt Capital Group LLC Grows Holdings in Realty Income Co. (NYSE:O)

Fort Pitt Capital Group LLC lifted its holdings in Realty Income Co. (NYSE:O) by 3.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,126 shares of the real estate investment trust’s stock after buying an additional 2,197 shares during the quarter. Fort Pitt Capital Group LLC’s holdings in Realty Income were worth $3,750,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of O. Janney Montgomery Scott LLC boosted its stake in Realty Income by 2.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 527,842 shares of the real estate investment trust’s stock worth $33,476,000 after purchasing an additional 12,968 shares in the last quarter. Conning Inc. bought a new position in Realty Income in the 3rd quarter worth about $220,000. Clear Creek Financial Management LLC bought a new position in Realty Income in the 3rd quarter worth about $215,000. First Interstate Bank bought a new position in Realty Income in the 3rd quarter worth about $215,000. Finally, BluePath Capital Management LLC bought a new position in Realty Income in the 3rd quarter worth about $655,000. 70.81% of the stock is owned by hedge funds and other institutional investors.

Realty Income Price Performance

Shares of NYSE:O opened at $58.88 on Friday. The firm’s 50 day moving average price is $62.28 and its 200-day moving average price is $57.72. Realty Income Co. has a twelve month low of $48.67 and a twelve month 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 $51.28 billion, a PE ratio of 54.52, a price-to-earnings-growth ratio of 4.13 and a beta of 0.99.

Realty Income (NYSE:O) last issued its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share 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 business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the company earned $1.00 EPS. Realty Income’s revenue for the quarter was up 31.4% on a year-over-year basis. Equities research analysts expect that Realty Income Co. will post 4.2 EPS for the current year.

Realty Income Announces Dividend

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

Insider Buying and Selling

In related news, Director Mary Hogan Preusse sold 1,712 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 26,579 shares of the company’s stock, valued at approximately $1,663,313.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Mary Hogan Preusse sold 1,712 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 26,579 shares of the company’s stock, valued at approximately $1,663,313.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $60.77, for a total transaction of $303,850.00. Following the sale, the director now directly owns 5,257 shares of the company’s stock, valued at approximately $319,467.89. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

O has been the topic of a number of analyst reports. Wells Fargo & Company reiterated an “equal weight” rating and issued a $65.00 price target (up previously from $62.00) on shares of Realty Income in a research note on Tuesday, October 1st. Stifel Nicolaus upped their target price on shares of Realty Income from $67.50 to $70.25 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Robert W. Baird upped their target price on shares of Realty Income from $57.00 to $58.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Scotiabank upped their target price on shares of Realty Income from $61.00 to $64.00 and gave the company a “sector perform” rating in a research note on Tuesday, September 17th. Finally, UBS Group upped their target price on shares of Realty Income from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Realty Income currently has an average rating of “Hold” and a consensus target price of $63.94.

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.