Dearborn Partners LLC Boosts Position in Realty Income Co. (NYSE:O)

Dearborn Partners LLC grew its holdings in Realty Income Co. (NYSE:O) by 1.6% during the 3rd quarter, Holdings Channel reports. The fund owned 95,537 shares of the real estate investment trust’s stock after purchasing an additional 1,488 shares during the period. Dearborn Partners LLC’s holdings in Realty Income were worth $6,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Realty Income by 18.3% in the first quarter. Vanguard Group Inc. now owns 134,768,614 shares of the real estate investment trust’s stock valued at $7,290,982,000 after purchasing an additional 20,848,560 shares during the last quarter. Raymond James & Associates boosted its stake in shares of Realty Income by 92.4% in the third quarter. Raymond James & Associates now owns 6,479,542 shares of the real estate investment trust’s stock worth $410,932,000 after buying an additional 3,112,560 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Realty Income by 63.2% during the second quarter. Canada Pension Plan Investment Board now owns 2,610,483 shares of the real estate investment trust’s stock worth $137,886,000 after acquiring an additional 1,010,876 shares during the period. Centersquare Investment Management LLC raised its position in Realty Income by 14.9% during the first 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 acquiring an additional 885,852 shares in the last quarter. Finally, Cetera Investment Advisers lifted its holdings in Realty Income by 410.7% in the first quarter. Cetera Investment Advisers now owns 951,335 shares of the real estate investment trust’s stock valued at $51,467,000 after acquiring an additional 765,048 shares during the period. Institutional investors and hedge funds own 70.81% of the company’s stock.

Analyst Ratings Changes

O has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Realty Income from $60.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd. Morgan Stanley restated an “equal weight” rating and set a $62.00 target price on shares of Realty Income in a research report on Tuesday, August 6th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $65.00 price target (up previously from $62.00) on shares of Realty Income in a report on Tuesday, October 1st. Stifel Nicolaus dropped their price objective on Realty Income from $70.50 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, UBS Group reduced their target price on Realty Income from $72.00 to $71.00 and set a “buy” rating for the company in a research note on Thursday. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $63.85.

Insider Transactions at Realty Income

In other news, Director Mary Hogan Preusse sold 1,712 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total transaction of $107,136.96. Following the completion of the transaction, the director now directly owns 26,579 shares in the company, valued at $1,663,313.82. This trade represents a 6.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director A. Larry Chapman sold 5,000 shares of Realty Income stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $60.77, for a total value of $303,850.00. Following the completion of the sale, the director now directly owns 5,257 shares of the company’s stock, valued at $319,467.89. The trade was a 48.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Realty Income Stock Down 1.5 %

Shares of NYSE O opened at $56.07 on Friday. The stock has a market cap of $49.07 billion, a PE ratio of 53.40, a P/E/G ratio of 4.00 and a beta of 0.99. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.68. Realty Income Co. has a 12-month low of $50.65 and a 12-month high of $64.88. The company has a 50-day moving average of $61.56 and a 200 day moving average of $57.98.

Realty Income (NYSE:O) last posted its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.75). Realty Income had a return on equity of 2.35% and a net margin of 17.57%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the firm earned $1.02 EPS. The firm’s revenue was up 28.1% on a year-over-year basis. As a group, sell-side analysts predict that Realty Income Co. will post 4.19 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 given a $0.2635 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 5.64%. This is an increase from Realty Income’s previous monthly dividend of $0.24. Realty Income’s payout ratio is currently 300.96%.

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.