Cadence Bank Grows Stock Position in Realty Income Co. (NYSE:O)

Cadence Bank lifted its holdings in Realty Income Co. (NYSE:O) by 21.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,806 shares of the real estate investment trust’s stock after purchasing an additional 1,200 shares during the period. Cadence Bank’s holdings in Realty Income were worth $432,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pacifica Partners Inc. increased its position in Realty Income by 444.4% in the second quarter. Pacifica Partners Inc. now owns 490 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 400 shares in the last quarter. Rosenberg Matthew Hamilton grew its stake in shares of Realty Income by 75.4% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 491 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 211 shares during the period. MFA Wealth Advisors LLC purchased a new stake in Realty Income in the 2nd quarter worth approximately $33,000. Creative Capital Management Investments LLC raised its stake in Realty Income by 133.3% during the 3rd quarter. Creative Capital Management Investments LLC now owns 525 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 300 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new position in Realty Income during the second quarter valued at approximately $42,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Robert W. Baird increased their price objective on shares of Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $65.00 price target (up previously from $62.00) on shares of Realty Income in a research note on Tuesday, October 1st. Mizuho downgraded Realty Income from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $64.00 to $60.00 in a research report on Thursday, November 14th. 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 report on Tuesday, September 17th. Finally, UBS Group lowered their price target on Realty Income from $72.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $63.85.

Insiders Place Their Bets

In related news, Director Mary Hogan Preusse sold 1,712 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total value of $107,136.96. Following the sale, the director now directly owns 26,579 shares of the company’s stock, valued at $1,663,313.82. This represents a 6.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.10% of the stock is owned by insiders.

Realty Income Stock Performance

Shares of NYSE:O opened at $58.32 on Thursday. The firm has a fifty day simple moving average of $60.48 and a two-hundred day simple moving average of $58.15. 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 stock has a market capitalization of $51.04 billion, a P/E ratio of 55.54, a PEG ratio of 4.04 and a beta of 0.99.

Realty Income (NYSE:O) last released 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 during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the business posted $1.02 EPS. The company’s revenue was up 28.1% on a year-over-year basis. On average, analysts expect that Realty Income Co. will post 4.19 earnings per share for the current fiscal year.

Realty Income Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, December 13th. Investors 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 is an increase from Realty Income’s previous monthly dividend of $0.24. This represents a $3.16 dividend on an annualized basis and a yield of 5.42%. Realty Income’s dividend payout ratio (DPR) 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.