Icon Wealth Advisors LLC Sells 347 Shares of Realty Income Co. (NYSE:O)

Icon Wealth Advisors LLC lowered its holdings in Realty Income Co. (NYSE:O) by 1.0% in the third quarter, Holdings Channel reports. The firm owned 36,170 shares of the real estate investment trust’s stock after selling 347 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Realty Income were worth $2,294,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Parnassus Investments LLC lifted its stake in shares of Realty Income by 7.4% during the 3rd quarter. Parnassus Investments LLC now owns 24,448,225 shares of the real estate investment trust’s stock worth $1,550,506,000 after buying an additional 1,676,293 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Realty Income by 4.5% in the 2nd quarter. Legal & General Group Plc now owns 12,258,468 shares of the real estate investment trust’s stock worth $647,492,000 after purchasing an additional 531,008 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Realty Income by 3.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,682,105 shares of the real estate investment trust’s stock worth $617,043,000 after purchasing an additional 413,865 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Realty Income by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,729,229 shares of the real estate investment trust’s stock worth $617,028,000 after purchasing an additional 463,286 shares during the period. Finally, APG Asset Management US Inc. lifted its position in shares of Realty Income by 3.1% during the 2nd quarter. APG Asset Management US Inc. now owns 8,680,325 shares of the real estate investment trust’s stock valued at $454,502,000 after acquiring an additional 265,000 shares during the period. Institutional investors own 70.81% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Wells Fargo & Company restated an “equal weight” rating and set a $65.00 price objective (up previously from $62.00) on shares of Realty Income in a report on Tuesday, October 1st. Robert W. Baird increased their target price on shares of Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Scotiabank raised 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. JPMorgan Chase & Co. raised their target price on shares of Realty Income from $60.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $62.00 target price on shares of Realty Income in a research note on Tuesday, August 6th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $63.85.

Insider Transactions at Realty Income

In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total value of $107,136.96. Following the completion of the transaction, the director now owns 26,579 shares of the company’s stock, valued at approximately $1,663,313.82. The trade was a 6.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.10% of the stock is owned by insiders.

Realty Income Stock Performance

NYSE:O opened at $58.32 on Friday. The stock has a market cap of $51.04 billion, a P/E ratio of 55.54, a price-to-earnings-growth ratio of 4.10 and a beta of 0.99. The firm’s fifty day simple moving average is $60.44 and its 200 day simple moving average is $58.15. Realty Income Co. has a twelve month low of $50.65 and a twelve month high of $64.88. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.68.

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

Realty Income Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a $0.2635 dividend. This represents a $3.16 annualized dividend and a dividend yield of 5.42%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Realty Income’s previous monthly dividend of $0.24. Realty Income’s payout ratio is currently 300.96%.

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.