Canal Capital Management LLC Cuts Holdings in Realty Income Co. (NYSE:O)

Canal Capital Management LLC lowered its position in Realty Income Co. (NYSE:O - Free Report) by 22.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,875 shares of the real estate investment trust's stock after selling 25,018 shares during the period. Canal Capital Management LLC's holdings in Realty Income were worth $4,587,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Lee Danner & Bass Inc. bought a new stake in Realty Income in the fourth quarter valued at approximately $28,000. Hopwood Financial Services Inc. bought a new position in shares of Realty Income during the 4th quarter valued at about $29,000. Sierra Ocean LLC bought a new stake in Realty Income during the 4th quarter worth approximately $32,000. Millstone Evans Group LLC acquired a new stake in Realty Income during the 4th quarter worth approximately $34,000. Finally, BankPlus Trust Department bought a new stake in shares of Realty Income during the fourth quarter worth $37,000. Institutional investors own 70.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on O. Stifel Nicolaus reduced their target price on shares of Realty Income from $70.00 to $66.50 and set a "buy" rating for the company in a research note on Wednesday, January 8th. Scotiabank decreased their price target on shares of Realty Income from $59.00 to $57.00 and set a "sector perform" rating for the company in a research note on Friday, February 28th. Royal Bank of Canada cut their price objective on shares of Realty Income from $62.00 to $60.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. BNP Paribas downgraded shares of Realty Income from an "outperform" rating to a "neutral" rating and set a $61.00 target price for the company. in a research report on Tuesday, February 25th. Finally, Barclays reissued an "overweight" rating on shares of Realty Income in a research note on Tuesday. Ten equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Realty Income has a consensus rating of "Hold" and a consensus target price of $62.35.

Realty Income Trading Down 0.7 %

Realty Income stock traded down $0.39 during trading hours on Wednesday, reaching $58.13. 4,950,579 shares of the company's stock were exchanged, compared to its average volume of 5,261,159. The firm has a market capitalization of $51.84 billion, a PE ratio of 55.36, a PEG ratio of 2.10 and a beta of 0.79. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.68. The firm's 50 day simple moving average is $56.41 and its 200 day simple moving average is $56.47. Realty Income Co. has a twelve month low of $50.71 and a twelve month high of $64.88.

Realty Income (NYSE:O - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $1.05 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.01). The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.28 billion. Realty Income had a return on equity of 2.35% and a net margin of 17.57%. Research analysts predict that Realty Income Co. will post 4.19 earnings per share for the current year.

Realty Income Dividend Announcement

The firm also recently disclosed a may 25 dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be issued a dividend of $0.2685 per share. The ex-dividend date of this dividend is Thursday, May 1st. This represents a yield of 6%. Realty Income's payout ratio is 328.57%.

Realty Income Company 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.