Whipplewood Advisors LLC has reduced its holdings in Realty Income Corporation (NYSE: O) by 33.4% during the second quarter of 2023, according to a report from HoldingsChannel.com. The firm now owns 3,470 shares after selling 1,738 shares in this period. As of its latest filing with the Securities and Exchange Commission (SEC), Whipplewood’s stake in Realty Income is valued at approximately $200,000.
Other institutional investors have also adjusted their positions in Realty Income. Brighton Jones LLC increased its holdings by 11.2% in the fourth quarter, now owning 6,101 shares valued at $326,000 following a purchase of 615 additional shares. Bison Wealth LLC established a new stake in the same quarter, valued at around $571,000. Additionally, GAMMA Investing LLC raised its position by 5.2% in the first quarter, owning 12,180 shares valued at $707,000 after acquiring 601 shares. Spire Wealth Management and Bessemer Group Inc. also made significant increases in their holdings.
As of now, institutional investors and hedge funds own 70.81% of Realty Income’s stock. The shares of Realty Income Corporation opened at $60.03 on Monday, with a market capitalization of $54.89 billion. The company has a price-to-earnings (P/E) ratio of 58.28 and a price-to-earnings growth (PEG) ratio of 4.58. Its stock has experienced a fifty-day moving average price of $59.40 and a two-hundred-day moving average price of $57.80. Furthermore, Realty Income has a debt-to-equity ratio of 0.72 and a current and quick ratio both at 1.85. The stock’s twelve-month range is between a low of $50.71 and a high of $63.29.
Dividend Announcement and Insider Trading
Realty Income Corporation has declared a monthly dividend of $0.2695 per share, set to be paid on November 14, 2023, to investors of record as of October 31, 2023. This dividend represents an annualized yield of 5.4%. The ex-dividend date for this payment is also October 31, 2023, and the current dividend payout ratio stands at 313.59%.
In a related development, Director Mary Hogan Preusse sold 11,000 shares on September 30, 2023, at an average price of $60.43, totaling approximately $664,730. Following this transaction, Preusse holds 19,211 shares valued at around $1,160,920.73. This sale represented a 36.41% decrease in her position, as disclosed in a legal filing with the SEC.
Analyst Ratings and Stock Performance
Recent analyses from various brokerages have provided mixed ratings for Realty Income. Weiss Ratings reiterated a “hold” rating on the shares. UBS Group raised their price target from $62.00 to $66.00 and maintained a “buy” rating. Cantor Fitzgerald initiated coverage with a “neutral” rating and a price target of $64.00. Barclays increased their price target from $59.00 to $63.00 and assigned an “equal weight” rating. Scotiabank also raised its target from $58.00 to $60.00 with a “sector perform” rating.
Currently, the stock holds an average rating of “hold” with a target price of $62.58, according to data from MarketBeat. With three analysts recommending a buy and eleven suggesting a hold, Realty Income’s performance remains a topic of interest among investors and financial analysts alike.
