First Interstate Bank Makes New Investment in Realty Income Co. (NYSE:O)

First Interstate Bank acquired a new stake in Realty Income Co. (NYSE:O) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,386 shares of the real estate investment trust’s stock, valued at approximately $215,000.

A number of other institutional investors and hedge funds have also made changes to their positions in O. ZWJ Investment Counsel Inc. raised its position in shares of Realty Income by 0.6% during the 3rd quarter. ZWJ Investment Counsel Inc. now owns 29,279 shares of the real estate investment trust’s stock worth $1,857,000 after purchasing an additional 164 shares during the last quarter. Whittier Trust Co. lifted its position in shares of Realty Income by 4.5% in the third quarter. Whittier Trust Co. now owns 3,871 shares of the real estate investment trust’s stock valued at $245,000 after acquiring an additional 166 shares in the last quarter. Greenleaf Trust lifted its position in shares of Realty Income by 1.0% in the third quarter. Greenleaf Trust now owns 16,911 shares of the real estate investment trust’s stock valued at $1,072,000 after acquiring an additional 170 shares in the last quarter. Grove Bank & Trust boosted its stake in shares of Realty Income by 14.3% in the third quarter. Grove Bank & Trust now owns 1,409 shares of the real estate investment trust’s stock worth $89,000 after acquiring an additional 176 shares during the last quarter. Finally, Buckley Wealth Management LLC raised its stake in Realty Income by 1.9% in the 3rd quarter. Buckley Wealth Management LLC now owns 9,450 shares of the real estate investment trust’s stock valued at $599,000 after purchasing an additional 176 shares during the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Realty Income Stock Performance

Shares of O stock opened at $58.88 on Friday. Realty Income Co. has a 12 month low of $48.67 and a 12 month high of $64.88. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.66. The company has a market cap of $51.28 billion, a P/E ratio of 54.52, a PEG ratio of 4.13 and a beta of 0.99. The firm has a fifty day moving average price of $62.28 and a 200 day moving average price of $57.72.

Realty Income (NYSE:O) last posted its earnings results on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.07). The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Realty Income had a net margin of 17.89% and a return on equity of 2.36%. The firm’s revenue for the quarter was up 31.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.00 earnings per share. Sell-side analysts predict that Realty Income Co. will post 4.2 earnings per share for the current fiscal year.

Realty Income Dividend Announcement

The firm also recently declared a nov 24 dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a $0.2635 dividend. The ex-dividend date is Friday, November 1st. This represents a dividend yield of 5.1%. Realty Income’s dividend payout ratio is currently 292.59%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley reaffirmed an “equal weight” rating and set a $62.00 target price on shares of Realty Income in a report on Tuesday, August 6th. Scotiabank lifted their price target on Realty Income from $61.00 to $64.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 17th. JPMorgan Chase & Co. upped their price objective on shares of Realty Income from $60.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Wells Fargo & Company reaffirmed 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. Finally, Royal Bank of Canada increased their price target on shares of Realty Income from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Realty Income presently has an average rating of “Hold” and an average target price of $63.94.

Insiders Place Their Bets

In other news, 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 $319,467.89. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Mary Hogan Preusse sold 1,712 shares of the company’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 sale, the director now owns 26,579 shares of the company’s stock, valued at $1,663,313.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director A. Larry Chapman sold 5,000 shares of Realty Income stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $60.77, for a total transaction of $303,850.00. Following the sale, the director now owns 5,257 shares in the company, valued at $319,467.89. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.