Patron Partners LLC Increases Stake in Realty Income Co. (NYSE:O)

Patron Partners LLC increased its holdings in Realty Income Co. (NYSE:O) by 13.7% during the third quarter, Holdings Channel.com reports. The firm owned 9,564 shares of the real estate investment trust’s stock after acquiring an additional 1,153 shares during the quarter. Patron Partners LLC’s holdings in Realty Income were worth $607,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Realty Income by 18.3% in the 1st quarter. Vanguard Group Inc. now owns 134,768,614 shares of the real estate investment trust’s stock worth $7,290,982,000 after acquiring an additional 20,848,560 shares during the last quarter. Raymond James & Associates increased its holdings in Realty Income by 92.4% during the 3rd quarter. Raymond James & Associates now owns 6,479,542 shares of the real estate investment trust’s stock valued at $410,932,000 after purchasing an additional 3,112,560 shares during the period. Canada Pension Plan Investment Board increased its holdings in Realty Income by 63.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,610,483 shares of the real estate investment trust’s stock valued at $137,886,000 after purchasing an additional 1,010,876 shares during the period. Centersquare Investment Management LLC raised its position in Realty Income by 14.9% during the 1st quarter. Centersquare Investment Management LLC now owns 6,824,420 shares of the real estate investment trust’s stock valued at $365,379,000 after purchasing an additional 885,852 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in Realty Income by 410.7% in the 1st quarter. Cetera Investment Advisers now owns 951,335 shares of the real estate investment trust’s stock worth $51,467,000 after buying an additional 765,048 shares during the period. 70.81% of the stock is owned by institutional investors.

Realty Income Price Performance

Shares of NYSE:O opened at $57.67 on Tuesday. The business has a fifty day moving average price of $61.87 and a 200-day moving average price of $57.93. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.39. The company has a market capitalization of $50.47 billion, a PE ratio of 54.92, a PEG ratio of 4.00 and a beta of 0.99. Realty Income Co. has a 1-year low of $49.52 and a 1-year high of $64.88.

Realty Income (NYSE:O) last released its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.75). The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.26 billion. Realty Income had a net margin of 17.57% and a return on equity of 2.35%. The firm’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.02 earnings per share. As a group, equities analysts expect that Realty Income Co. will post 4.2 EPS for the current fiscal year.

Realty Income Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.2635 per share. This represents a $3.16 annualized dividend and a yield of 5.48%. This is an increase from Realty Income’s previous monthly dividend of $0.24. The ex-dividend date is Monday, December 2nd. Realty Income’s dividend payout ratio (DPR) is currently 300.96%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on O shares. Wells Fargo & Company reissued an “equal weight” rating and set a $65.00 target price (up from $62.00) on shares of Realty Income in a research note on Tuesday, October 1st. Royal Bank of Canada reduced their price objective on shares of Realty Income from $67.00 to $63.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Wedbush began coverage on shares of Realty Income in a research report on Monday, August 19th. They issued a “neutral” rating and a $64.00 target price for the company. Morgan Stanley reiterated an “equal weight” rating and set a $62.00 price target on shares of Realty Income in a research report on Tuesday, August 6th. Finally, Stifel Nicolaus lowered their price objective on shares of Realty Income from $70.50 to $70.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $63.85.

Insiders Place Their Bets

In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total value of $107,136.96. Following the completion of the transaction, the director now owns 26,579 shares of the company’s stock, valued at approximately $1,663,313.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total transaction of $107,136.96. Following the completion of the sale, the director now directly owns 26,579 shares in the company, valued at approximately $1,663,313.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director A. Larry Chapman sold 5,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $60.77, for a total value of $303,850.00. Following the completion of the transaction, the director now owns 5,257 shares in the company, valued at approximately $319,467.89. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

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.