Meridian Wealth Advisors LLC Purchases Shares of 46,388 Realty Income Co. (NYSE:O)

Meridian Wealth Advisors LLC acquired a new position in shares of Realty Income Co. (NYSE:O - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 46,388 shares of the real estate investment trust's stock, valued at approximately $2,478,000.

A number of other hedge funds also recently bought and sold shares of the company. Lee Danner & Bass Inc. acquired a new position in Realty Income during the fourth quarter valued at $28,000. Hopwood Financial Services Inc. purchased a new position in Realty Income during the 4th quarter valued at about $29,000. Sierra Ocean LLC acquired a new position in shares of Realty Income in the 4th quarter valued at about $32,000. Millstone Evans Group LLC acquired a new position in shares of Realty Income in the 4th quarter valued at about $34,000. Finally, BankPlus Trust Department purchased a new stake in shares of Realty Income in the fourth 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 traded up $0.25 during midday trading on Thursday, reaching $56.81. The stock had a trading volume of 786,663 shares, compared to its average volume of 5,288,404. The stock has a market capitalization of $50.64 billion, a P/E ratio of 54.10, a PEG ratio of 2.10 and a beta of 1.00. Realty Income Co. has a 1-year low of $50.65 and a 1-year high of $64.88. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.40. The firm's fifty day simple moving average is $55.72 and its 200-day simple moving average is $57.37.

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

Realty Income Increases Dividend

The firm also recently disclosed a apr 25 dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a $0.2685 dividend. This represents a dividend yield of 5.7%. This is a boost from Realty Income's previous apr 25 dividend of $0.27. The ex-dividend date is Tuesday, April 1st. Realty Income's dividend payout ratio is currently 328.57%.

Analysts Set New Price Targets

O has been the topic of a number of research reports. BNP Paribas downgraded shares of Realty Income from an "outperform" rating to a "neutral" rating and set a $61.00 price target on the stock. in a research note on Tuesday, February 25th. Scotiabank dropped their target price 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. Barclays lifted their price target on Realty Income from $56.00 to $59.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Mizuho dropped their price objective on Realty Income from $60.00 to $54.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Finally, 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. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $62.04.

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.