Sit Investment Associates Inc. Decreases Stock Holdings in Realty Income Co. (NYSE:O)

Sit Investment Associates Inc. reduced its stake in shares of Realty Income Co. (NYSE:O) by 59.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,585 shares of the real estate investment trust’s stock after selling 104,940 shares during the quarter. Sit Investment Associates Inc.’s holdings in Realty Income were worth $3,823,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in O. Lee Danner & Bass Inc. purchased a new stake in shares of Realty Income in the 4th quarter worth about $28,000. Hopwood Financial Services Inc. acquired a new position in Realty Income during the fourth quarter worth about $29,000. Sierra Ocean LLC purchased a new stake in shares of Realty Income in the fourth quarter valued at about $32,000. Millstone Evans Group LLC acquired a new stake in shares of Realty Income in the fourth quarter valued at approximately $34,000. Finally, BankPlus Trust Department purchased a new position in shares of Realty Income during the 4th quarter worth approximately $37,000. 70.81% of the stock is owned by hedge funds and other institutional investors.

Realty Income Stock Performance

NYSE:O opened at $55.11 on Monday. The company has a market cap of $49.15 billion, a P/E ratio of 52.49, a P/E/G ratio of 2.10 and a beta of 1.00. The firm’s 50 day moving average is $56.03 and its two-hundred day moving average is $57.05. Realty Income Co. has a fifty-two week low of $50.65 and a fifty-two week 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 issued its earnings results on Monday, February 24th. The real estate investment trust reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.01). Realty Income had a return on equity of 2.35% and a net margin of 17.57%. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Analysts expect that Realty Income Co. will post 4.19 EPS for the current year.

Realty Income Increases Dividend

The company also recently announced a apr 25 dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.2685 per share. The ex-dividend date is Tuesday, April 1st. This represents a dividend yield of 5.7%. This is a boost from Realty Income’s previous apr 25 dividend of $0.27. Realty Income’s payout ratio is presently 328.57%.

Analysts Set New Price Targets

A number of brokerages have commented on O. Barclays increased their target price on Realty Income from $56.00 to $59.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft started coverage on Realty Income in a research note on Wednesday, December 11th. They set a “hold” rating and a $62.00 price objective on the stock. Mizuho boosted their target price on shares of Realty Income from $54.00 to $59.00 and gave the company a “neutral” rating in a research note on Thursday. Stifel Nicolaus lowered their price target on shares of Realty Income from $70.00 to $66.50 and set a “buy” rating for the company in a report on Wednesday, January 8th. Finally, BNP Paribas lowered shares of Realty Income from an “outperform” rating to a “neutral” rating and set a $61.00 price objective for the company. in a research report on Tuesday, February 25th. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $62.42.

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.