Y Intercept Hong Kong Ltd Expands Stake in Realty Income Co.

Y Intercept Hong Kong Ltd significantly increased its investment in Realty Income Co. (NYSE:O) by an impressive 1,934.0% during the fourth quarter, as reported in its latest Form 13F submission to the Securities and Exchange Commission. After adding 70,978 shares, the institutional investor now holds a total of 74,648 shares in this renowned real estate investment trust (REIT). The approximate value of Y Intercept's holdings in Realty Income was $3,987,000 at the time of its most recent SEC filing.

In addition to Y Intercept's notable increase, other institutional investors have also adjusted their stakes in Realty Income. For instance, Rosenberg Matthew Hamilton raised its position by 75.4% in the third quarter, resulting in ownership of 491 shares worth around $31,000 after acquiring an additional 211 shares.

Another firm, Creative Capital Management Investments LLC, boosted its holdings by 133.3% during the same quarter, now owning 525 shares valued at $33,000 after purchasing 300 more shares. Furthermore, Sierra Ocean LLC entered the Realty Income scene by buying a new stake during the fourth quarter for $32,000, while Luken Investment Analytics LLC acquired a new stake valued at $40,000.

ST Germain D J Co. Inc. made a significant move as well, increasing its position in Realty Income by 306.5% during the fourth quarter, now owning 752 shares worth $40,000 after acquiring an additional 567 shares. Overall, institutional investors collectively own 70.81% of Realty Income's stock.

Realty Income Sees Minor Trading Increase

On Monday, Realty Income's stock opened at $57.14. The company currently has a debt-to-equity ratio of 0.68, alongside a quick and current ratio of 1.40. The 50-day simple moving average rests at $53.92, while the 200-day simple moving average is at $58.05. Over the past year, Realty Income's stock has seen a low of $50.65 and a high of $64.88, with the company's market capitalization standing at $50.01 billion. As for performance metrics, Realty Income has a price-to-earnings (PE) ratio of 54.41 and a price-to-earnings-growth (PEG) ratio of 2.10, with a beta of 1.00.

Announcement of Dividend Increase

Realty Income has recently declared its upcoming dividend set for March 25, which will be paid out on March 14, 2024. Shareholders on record by March 3 will receive a dividend of $0.268, marking an increase from the prior payout of $0.26. This new dividend reflects a yield of 5.7% and a payout ratio of 305.71%.

Analysts Adjust Price Targets

This shifting landscape has prompted analysts to reassess their price targets for Realty Income shares. For example, Barclays reduced its price target from $59.00 to $56.00, rating the stock as "equal weight." Royal Bank of Canada reaffirmed its "outperform" rating with a $62.00 target, while Deutsche Bank initiated coverage with a "hold" rating and a price target of $62.00.

Mizuho and Stifel Nicolaus have also made adjustments, with Mizuho lowering its price objective from $60.00 to $54.00 while Stifel reduced its target from $70.00 to $66.50. Currently, ten analysts have given Realty Income a "hold" rating, whereas three recommend it as a "buy." MarketBeat indicates that analysts have set an average price target of $62.21 for the stock.

About Realty Income

Realty Income is widely recognized as The Monthly Dividend Company, featuring prominently in the S&P 500 and being a part of the S&P 500 Dividend Aristocrats index. Realty Income focuses on delivering dependable monthly dividends that typically increase over time. The company operates as a real estate investment trust (REIT) and supports its monthly dividends through cash flow generated from over 15,450 properties, primarily leased to commercial clients under long-term net lease agreements.

investment, stocks, dividend