Cullen Investment Group LTD. Acquires Shares of 25,645 Realty Income Co. (NYSE:O)

Cullen Investment Group LTD. purchased a new position in Realty Income Co. (NYSE:O) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 25,645 shares of the real estate investment trust’s stock, valued at approximately $1,370,000.

Other large investors also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Realty Income by 765.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,545,815 shares of the real estate investment trust’s stock valued at $478,556,000 after purchasing an additional 6,673,617 shares in the last quarter. Raymond James & Associates lifted its position in Realty Income by 92.4% in the 3rd 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 in the last quarter. Janus Henderson Group PLC grew its stake in shares of Realty Income by 3,150.5% in the 3rd quarter. Janus Henderson Group PLC now owns 2,760,182 shares of the real estate investment trust’s stock valued at $175,142,000 after buying an additional 2,675,266 shares in the last quarter. Parnassus Investments LLC increased its position in Realty Income by 7.4% during the third quarter. Parnassus Investments LLC now owns 24,448,225 shares of the real estate investment trust’s stock worth $1,550,506,000 after buying an additional 1,676,293 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in Realty Income by 102.1% during the third quarter. Bank of Montreal Can now owns 2,191,962 shares of the real estate investment trust’s stock worth $137,502,000 after purchasing an additional 1,107,493 shares during the period. Institutional investors own 70.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Stifel Nicolaus decreased their target price on shares of Realty Income from $70.00 to $66.50 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada reduced their price objective on Realty Income from $67.00 to $63.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Barclays started coverage on shares of Realty Income in a research note on Tuesday, December 17th. They issued an “equal weight” rating and a $59.00 price objective on the stock. Mizuho decreased their price target on shares of Realty Income from $60.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, Scotiabank increased their target price on Realty Income from $61.00 to $64.00 and gave the stock a “sector perform” rating in a research note on Tuesday, September 17th. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $62.50.

Realty Income Price Performance

Shares of Realty Income stock opened at $52.48 on Tuesday. The business has a 50 day moving average of $55.20 and a 200 day moving average of $58.37. Realty Income Co. has a 52 week low of $50.65 and a 52 week high of $64.88. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.68. The company has a market cap of $45.93 billion, a PE ratio of 49.98, a P/E/G ratio of 2.05 and a beta of 1.00.

Realty Income (NYSE:O) last released its earnings results 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 business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Realty Income had a return on equity of 2.35% and a net margin of 17.57%. The firm’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.02 earnings per share. As a group, equities research analysts forecast that Realty Income Co. will post 4.2 earnings per share for the current year.

Realty Income Increases Dividend

The firm also recently declared a jan 25 dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a $0.264 dividend. This represents a yield of 5.7%. This is an increase from Realty Income’s previous jan 25 dividend of $0.26. The ex-dividend date is Thursday, January 2nd. Realty Income’s dividend payout ratio is presently 300.95%.

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.