Kornitzer Capital Management Inc. KS Makes New Investment in Realty Income Corporation $O

Kornitzer Capital Management Inc. KS bought a new position in Realty Income Corporation (NYSE:O) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,040 shares of the real estate investment trust’s stock, valued at approximately $866,000.

Several other large investors have also recently modified their holdings of the stock. Compagnie Lombard Odier SCmA bought a new stake in Realty Income during the 2nd quarter valued at about $25,000. Keystone Global Partners LLC purchased a new stake in shares of Realty Income during the first quarter valued at approximately $26,000. Avion Wealth increased its position in shares of Realty Income by 142.4% during the second quarter. Avion Wealth now owns 526 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 309 shares in the last quarter. Hilltop National Bank purchased a new position in Realty Income in the 2nd quarter worth approximately $36,000. Finally, CBIZ Investment Advisory Services LLC lifted its position in Realty Income by 87.6% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 649 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 303 shares in the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Realty Income Trading Down 0.3%

Realty Income stock opened at $60.03 on Monday. Realty Income Corporation has a 52-week low of $50.71 and a 52-week high of $63.29. The company has a market cap of $54.89 billion, a P/E ratio of 58.28, a P/E/G ratio of 4.58 and a beta of 0.78. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.72. The business has a 50-day simple moving average of $59.40 and a two-hundred day simple moving average of $57.80.

Realty Income (NYSE:O) last posted its quarterly earnings data on Wednesday, August 6th. 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). Realty Income had a return on equity of 2.34% and a net margin of 16.77%.The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the previous year, the business posted $1.07 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. Analysts predict that Realty Income Corporation will post 4.19 EPS for the current year.

Realty Income Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid a $0.2695 dividend. This represents a c) annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Friday, October 31st. Realty Income’s dividend payout ratio is 313.59%.

Insider Buying and Selling

In related news, Director Mary Hogan Preusse sold 11,000 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $60.43, for a total value of $664,730.00. Following the transaction, the director directly owned 19,211 shares of the company’s stock, valued at approximately $1,160,920.73. This trade represents a 36.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on O. Scotiabank lifted their target price on Realty Income from $58.00 to $60.00 and gave the stock a “sector perform” rating in a report on Thursday, August 28th. Wolfe Research downgraded Realty Income from an “outperform” rating to a “peer perform” rating in a report on Monday, July 14th. Mizuho upped their target price on shares of Realty Income from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, September 11th. Cantor Fitzgerald assumed coverage on shares of Realty Income in a report on Wednesday, October 1st. They set a “neutral” rating and a $64.00 price target on the stock. Finally, Evercore ISI assumed coverage on shares of Realty Income in a research note on Wednesday, October 1st. They issued an “in-line” rating and a $62.00 price target for the company. Three analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $62.58.

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.