Sound Income Strategies LLC Has $11.35 Million Holdings in Realty Income Co. (NYSE:O)

Sound Income Strategies LLC lifted its position in Realty Income Co. (NYSE:O) by 9,199.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 209,785 shares of the real estate investment trust’s stock after acquiring an additional 207,529 shares during the period. Sound Income Strategies LLC’s holdings in Realty Income were worth $11,349,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. West Paces Advisors Inc. raised its position in shares of Realty Income by 4.8% in the 1st quarter. West Paces Advisors Inc. now owns 9,093 shares of the real estate investment trust’s stock valued at $492,000 after acquiring an additional 414 shares during the period. Riverview Trust Co acquired a new stake in shares of Realty Income in the 1st quarter valued at approximately $34,000. Gateway Investment Advisers LLC increased its stake in Realty Income by 1,029.3% during the 1st quarter. Gateway Investment Advisers LLC now owns 285,207 shares of the real estate investment trust’s stock worth $15,430,000 after purchasing an additional 259,951 shares in the last quarter. Crane Advisory LLC increased its stake in Realty Income by 14.5% during the 1st quarter. Crane Advisory LLC now owns 11,247 shares of the real estate investment trust’s stock worth $592,000 after purchasing an additional 1,424 shares in the last quarter. Finally, Perkins Coie Trust Co increased its stake in Realty Income by 3.2% during the 1st quarter. Perkins Coie Trust Co now owns 16,504 shares of the real estate investment trust’s stock worth $893,000 after purchasing an additional 505 shares in the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Scotiabank increased their target price on Realty Income from $54.00 to $56.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 16th. KeyCorp assumed coverage on Realty Income in a research note on Wednesday, June 12th. They set a “sector weight” rating for the company. Mizuho increased their target price on Realty Income from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Finally, UBS Group decreased their price target on shares of Realty Income from $67.00 to $61.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $61.35.

Insider Activity

In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $54.23, for a total transaction of $271,150.00. Following the completion of the sale, the director now owns 6,257 shares of the company’s stock, valued at approximately $339,317.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.10% of the stock is currently owned by insiders.

Realty Income Price Performance

Shares of NYSE O traded down $0.27 during mid-day trading on Wednesday, reaching $52.65. The company had a trading volume of 4,775,410 shares, compared to its average volume of 6,390,784. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.83 and a current ratio of 1.83. The firm has a market cap of $45.85 billion, a price-to-earnings ratio of 48.79, a PEG ratio of 4.61 and a beta of 0.94. Realty Income Co. has a one year low of $45.03 and a one year high of $64.18. The business’s 50-day simple moving average is $53.60 and its 200 day simple moving average is $54.16.

Realty Income (NYSE:O) last issued its earnings results on Monday, May 6th. The real estate investment trust reported $0.16 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.87). The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.15 billion. Realty Income had a return on equity of 3.26% and a net margin of 17.74%. The firm’s revenue was up 33.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 EPS. On average, research analysts predict that Realty Income Co. will post 4.2 earnings per share for the current fiscal year.

Realty Income Increases Dividend

The company also recently disclosed a jul 24 dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be paid a $0.263 dividend. The ex-dividend date is Monday, July 1st. This represents a dividend yield of 6%. This is an increase from Realty Income’s previous jul 24 dividend of $0.26. Realty Income’s dividend payout ratio is currently 291.67%.

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.