Bank of Montreal Can Decreases Stake in Realty Income Co. (NYSE:O)

Bank of Montreal Can lessened its position in shares of Realty Income Co. (NYSE:O) by 42.7% in the fourth quarter, Holdings Channel reports. The fund owned 1,255,110 shares of the real estate investment trust’s stock after selling 936,852 shares during the quarter. Bank of Montreal Can’s holdings in Realty Income were worth $67,035,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the company. Lee Danner & Bass Inc. bought a new stake in Realty Income during the fourth quarter valued at about $28,000. Hopwood Financial Services Inc. bought a new position in Realty Income during the fourth quarter valued at approximately $29,000. Sierra Ocean LLC bought a new position in Realty Income during the fourth quarter valued at approximately $32,000. Millstone Evans Group LLC bought a new position in Realty Income during the fourth quarter valued at approximately $34,000. Finally, BankPlus Trust Department bought a new position in Realty Income during the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Realty Income Stock Performance

Shares of O opened at $54.05 on Thursday. Realty Income Co. has a one year low of $50.65 and a one year high of $64.88. The stock has a market cap of $48.20 billion, a P/E ratio of 51.48, a P/E/G ratio of 2.10 and a beta of 0.79. 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 stock has a 50-day moving average of $55.86 and a two-hundred day moving average of $56.82.

Realty Income (NYSE:O) last posted its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.01). The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Realty Income had a return on equity of 2.35% and a net margin of 17.57%. As a group, research analysts predict that Realty Income Co. will post 4.19 EPS for the current year.

Realty Income Dividend Announcement

The business also recently declared a may 25 dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be given a dividend of $0.2685 per share. This represents a yield of 6%. The ex-dividend date is Thursday, May 1st. Realty Income’s dividend payout ratio is currently 328.57%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on O. Scotiabank decreased their price objective on Realty Income from $59.00 to $57.00 and set a “sector perform” rating on the stock in a research report on Friday, February 28th. Royal Bank of Canada dropped their price objective on Realty Income from $62.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Stifel Nicolaus dropped their price objective on Realty Income from $70.00 to $66.50 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft initiated coverage on Realty Income in a research note on Wednesday, December 11th. They issued a “hold” rating and a $62.00 price objective on the stock. Finally, Barclays increased their price objective on Realty Income from $56.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock 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.