MeadowBrook Investment Advisors LLC Reduces Holdings in Realty Income Co. (NYSE:O)

by · The Cerbat Gem

MeadowBrook Investment Advisors LLC lowered its stake in shares of Realty Income Co. (NYSE:O – Free Report) by 19.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,915 shares of the real estate investment trust’s stock after selling 1,177 shares during the period. MeadowBrook Investment Advisors LLC’s holdings in Realty Income were worth $312,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Realty Income by 15.0% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 24,457 shares of the real estate investment trust’s stock worth $1,551,000 after purchasing an additional 3,184 shares during the last quarter. Black Swift Group LLC raised its position in shares of Realty Income by 16.2% during the 3rd quarter. Black Swift Group LLC now owns 13,240 shares of the real estate investment trust’s stock worth $840,000 after purchasing an additional 1,850 shares during the last quarter. Metis Global Partners LLC grew its stake in Realty Income by 21.0% in the 3rd quarter. Metis Global Partners LLC now owns 129,749 shares of the real estate investment trust’s stock worth $8,229,000 after acquiring an additional 22,475 shares during the period. KBC Group NV grew its stake in Realty Income by 391.6% in the 3rd quarter. KBC Group NV now owns 623,658 shares of the real estate investment trust’s stock worth $39,552,000 after acquiring an additional 496,796 shares during the period. Finally, Huntington National Bank grew its stake in Realty Income by 3.9% in the 3rd quarter. Huntington National Bank now owns 168,933 shares of the real estate investment trust’s stock worth $10,714,000 after acquiring an additional 6,308 shares during the period. Institutional investors and hedge funds own 70.81% of the company’s stock.

Realty Income Price Performance

NYSE:O traded down $0.90 during midday trading on Thursday, hitting $56.00. 1,421,822 shares of the stock were exchanged, compared to its average volume of 5,661,639. 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 business has a 50-day moving average price of $61.56 and a two-hundred day moving average price of $57.98. Realty Income Co. has a one year low of $50.65 and a one year high of $64.88. The company has a market capitalization of $49.01 billion, a price-to-earnings ratio of 53.77, a P/E/G ratio of 4.01 and a beta of 0.99.

Realty Income (NYSE:O – Get Free Report) last released its earnings results 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). 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 for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the company earned $1.02 earnings per share. The firm’s revenue for the quarter was up 28.1% on a year-over-year basis. Sell-side analysts predict that Realty Income Co. will post 4.19 EPS for the current year.

Realty Income Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a $0.2635 dividend. This is a positive change from Realty Income’s previous monthly dividend of $0.24. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 5.65%. Realty Income’s dividend payout ratio (DPR) is currently 300.96%.

Insiders Place Their Bets

In other Realty Income 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 owns 26,579 shares in the company, valued at $1,663,313.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director A. Larry Chapman sold 5,000 shares of Realty Income 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 in the company, valued at $319,467.89. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mary Hogan Preusse sold 1,712 shares of Realty Income stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total transaction of $107,136.96. Following the completion of the transaction, the director now owns 26,579 shares in the company, valued at $1,663,313.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Realty Income from $60.00 to $67.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 3rd. Robert W. Baird boosted their price objective 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. Wedbush assumed coverage on shares of Realty Income in a research note on Monday, August 19th. They set a “neutral” rating and a $64.00 price objective for the company. 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 research note on Tuesday, October 1st. Finally, Mizuho cut shares of Realty Income from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $64.00 to $60.00 in a research note on Thursday. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Realty Income presently has a consensus rating of “Hold” and a consensus target price of $63.85.

View Our Latest Research Report on Realty Income

About Realty Income

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding O? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Realty Income Co. (NYSE:O – Free Report).