Icon Wealth Advisors LLC Trims Holdings in Realty Income Co. (NYSE:O)

Icon Wealth Advisors LLC lowered its stake in shares of Realty Income Co. (NYSE:O) by 77.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,055 shares of the real estate investment trust’s stock after selling 28,462 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Realty Income were worth $511,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in O. Atlanta Consulting Group Advisors LLC acquired a new stake in Realty Income during the third quarter valued at approximately $896,000. Code Waechter LLC bought a new stake in shares of Realty Income in the 3rd quarter valued at approximately $1,308,000. Charles Schwab Investment Management Inc. raised its position in shares of Realty Income by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,729,229 shares of the real estate investment trust’s stock valued at $617,028,000 after acquiring an additional 463,286 shares in the last quarter. Swiss National Bank lifted its stake in Realty Income by 1.4% during the third quarter. Swiss National Bank now owns 2,584,694 shares of the real estate investment trust’s stock worth $163,921,000 after purchasing an additional 35,100 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Realty Income by 3.5% in the third quarter. Principal Financial Group Inc. now owns 2,190,739 shares of the real estate investment trust’s stock worth $138,937,000 after purchasing an additional 74,185 shares during the period. Institutional investors own 70.81% of the company’s stock.

Insiders Place Their Bets

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 transaction 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 $1,663,313.82. This represents a 6.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on O. Wells Fargo & Company reissued an “equal weight” rating and set a $65.00 target price (up from $62.00) on shares of Realty Income in a report on Tuesday, October 1st. UBS Group dropped their price objective on shares of Realty Income from $72.00 to $71.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Robert W. Baird lifted their target price on Realty Income from $57.00 to $58.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Scotiabank increased their price target on Realty Income from $61.00 to $64.00 and gave the stock a “sector perform” rating in a research report on Tuesday, September 17th. Finally, Royal Bank of Canada reduced their price objective on Realty Income from $67.00 to $63.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $63.85.

Realty Income Price Performance

Shares of O opened at $57.45 on Friday. Realty Income Co. has a one year low of $50.65 and a one year high of $64.88. The stock’s fifty day moving average is $60.76 and its 200-day moving average is $58.09. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a market capitalization of $50.28 billion, a price-to-earnings ratio of 54.71, a price-to-earnings-growth ratio of 4.04 and a beta of 0.99.

Realty Income (NYSE:O) 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 company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the business posted $1.02 EPS. The firm’s quarterly revenue was up 28.1% on a year-over-year basis. Equities analysts anticipate that Realty Income Co. will post 4.19 EPS for the current year.

Realty Income Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be issued a dividend of $0.2635 per share. This is a boost 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 annualized dividend and a yield of 5.50%. Realty Income’s payout ratio is presently 300.96%.

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.