Riggs Capital Management Invests in Realty Income Co.

Riggs Capital Management LLC has acquired a new shareholding in Realty Income Co. (NYSE:O - Free Report) during the fourth quarter, based on its latest report submitted to the Securities and Exchange Commission. The investment firm purchased a total of 10,796 shares in this real estate investment trust, valued at about $577,000.

In addition to Riggs Capital Management, several other institutional investors have adjusted their holdings in Realty Income. For instance, Summit Financial LLC increased its stake in Realty Income by 259.8% within the fourth quarter, now owning 33,811 shares worth around $1,806,000 after a recent purchase of 24,413 shares.

Likewise, Goepper Burkhardt LLC raised its shares in Realty Income by 0.8%, acquiring an additional 288 shares and now holding 36,765 shares valued at $1,964,000. Additionally, Wellington Management Group LLP upped its stake by 0.3%, bringing its total to 185,011 shares worth $9,881,000 after purchasing 487 more shares.

CIBC Private Wealth Group LLC increased its holdings by 4.8%, now owning 27,042 shares valued at $1,420,000 following an acquisition of 1,232 additional shares. California Public Employees Retirement System also expanded its position by 26.7%, growing its total holdings to 3,849,998 shares with a valuation of $205,628,000 after acquiring 811,037 shares. Overall, institutional investors now hold 70.81% of Realty Income's stock.

Recent Trading Activity of Realty Income

As of Monday, shares of Realty Income (O) opened at $56.61. The stock's 50-day simple moving average is $55.79, while the 200-day moving average stands at $57.24. Over the last year, Realty Income has experienced a low of $50.65 and a high of $64.88. The company's financial metrics indicate a current ratio of 1.40, a quick ratio of 1.40, and a debt-to-equity ratio of 0.68. Realty Income boasts a market capitalization of $50.47 billion, with a price-to-earnings (P/E) ratio of 53.91 and a price-to-earnings-to-growth (PEG) ratio of 2.10, while holding a beta of 1.00.

Dividend Announcements

Recently, Realty Income declared a dividend of $0.2685 per share, which will be distributed on April 15th to shareholders on record as of April 1st. This new dividend shows an increase from the previous $0.27 dividend. The ex-dividend date for this distribution is also April 1st, and the dividend yield currently sits at 5.7%. Realty Income's dividend payout ratio is reported at 328.57%.

Analyst Ratings and Price Targets

Several equity analysts have updated their opinions on Realty Income's shares recently. Scotiabank has lowered its target price for Realty Income from $59.00 to $57.00, assigning a "sector perform" rating. Meanwhile, BNP Paribas changed its rating from "outperform" to "neutral" with a price target set at $61.00. Barclays adjusted their target price from $56.00 to $59.00, maintaining a rating of "equal weight". Deutsche Bank also began coverage of Realty Income, suggesting a "hold" rating, with a target price of $62.00.

Royal Bank of Canada has cut its target price for Realty Income from $62.00 to $60.00 while keeping an "outperform" rating. Presently, analysts have an average rating of "Hold" for the stock, with an average price objective of $62.04.

About Realty Income

Realty Income, known as The Monthly Dividend Company, operates as part of the S&P 500 and is a member of the S&P 500 Dividend Aristocrats index. The company focuses on delivering reliable monthly dividends that tend to increase over time, backed by cash flow generated from over 15,450 real estate properties, which mainly operate under long-term net lease agreements with commercial clients.

Realty, Investment, Shares