Realty Income Co. (NYSE:O) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in shares of Realty Income Co. (NYSE:O) by 3.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,190,739 shares of the real estate investment trust’s stock after purchasing an additional 74,185 shares during the period. Principal Financial Group Inc.’s holdings in Realty Income were worth $138,937,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Lantz Financial LLC acquired a new position in shares of Realty Income in the 2nd quarter valued at $234,000. Premier Path Wealth Partners LLC boosted its stake in shares of Realty Income by 16.5% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 4,784 shares of the real estate investment trust’s stock worth $253,000 after acquiring an additional 677 shares in the last quarter. Everhart Financial Group Inc. acquired a new stake in shares of Realty Income during the 2nd quarter valued at about $247,000. Raymond James Trust N.A. increased its stake in shares of Realty Income by 43.2% in the 2nd quarter. Raymond James Trust N.A. now owns 42,954 shares of the real estate investment trust’s stock valued at $2,269,000 after purchasing an additional 12,968 shares in the last quarter. Finally, First Heartland Consultants Inc. raised its holdings in Realty Income by 1.7% in the 2nd quarter. First Heartland Consultants Inc. now owns 34,688 shares of the real estate investment trust’s stock worth $1,832,000 after purchasing an additional 587 shares during the period. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Mizuho lowered Realty Income from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $64.00 to $60.00 in a report on Thursday, November 14th. Stifel Nicolaus decreased their price target on shares of Realty Income from $70.50 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. 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 research note on Tuesday, September 3rd. UBS Group decreased their target price on shares of Realty Income from $72.00 to $71.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Finally, Royal Bank of Canada cut their price target on Realty Income from $67.00 to $63.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $63.23.

Realty Income Price Performance

NYSE:O opened at $52.79 on Friday. Realty Income Co. has a 52 week low of $50.65 and a 52 week high of $64.88. The stock’s fifty day moving average is $58.19 and its two-hundred day moving average is $58.34. The company has a market capitalization of $46.20 billion, a P/E ratio of 50.28, a P/E/G ratio of 2.05 and a beta of 0.98. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.68.

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

Realty Income Increases Dividend

The business also recently disclosed a jan 25 dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a $0.264 dividend. This is a positive change from Realty Income’s previous jan 25 dividend of $0.26. This represents a dividend yield of 5.7%. The ex-dividend date of this dividend is Thursday, January 2nd. Realty Income’s dividend payout ratio is currently 300.95%.

About Realty Income

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.