Cornerstone Advisors LLC Has $1.66 Million Position in Realty Income Co. (NYSE:O)

Cornerstone Advisors LLC increased its stake in shares of Realty Income Co. (NYSE:O) by 43.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,100 shares of the real estate investment trust’s stock after acquiring an additional 7,900 shares during the quarter. Cornerstone Advisors LLC’s holdings in Realty Income were worth $1,655,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Atlanta Consulting Group Advisors LLC acquired a new position in Realty Income during the third quarter worth $896,000. Code Waechter LLC bought a new position in Realty Income in the 3rd quarter valued at about $1,308,000. Swiss National Bank lifted its position in Realty Income by 1.4% in the 3rd quarter. Swiss National Bank now owns 2,584,694 shares of the real estate investment trust’s stock valued at $163,921,000 after acquiring an additional 35,100 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Realty Income by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 2,190,739 shares of the real estate investment trust’s stock valued at $138,937,000 after purchasing an additional 74,185 shares during the last quarter. Finally, Natixis Advisors LLC increased its holdings in Realty Income by 6.5% during the 3rd quarter. Natixis Advisors LLC now owns 302,343 shares of the real estate investment trust’s stock worth $19,175,000 after purchasing an additional 18,409 shares in the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on O. Scotiabank lifted their target price on Realty Income from $61.00 to $64.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 17th. Robert W. Baird upped their target price 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. Stifel Nicolaus dropped 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 report on Tuesday, November 5th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $62.00 price objective on shares of Realty Income in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Realty Income from $60.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $63.85.

Insider Buying and Selling

In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the firm’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 transaction, the director now owns 26,579 shares in the company, valued at $1,663,313.82. This trade represents a 6.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.10% of the stock is owned by insiders.

Realty Income Price Performance

Realty Income stock opened at $57.50 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.68. The business’s 50 day simple moving average is $60.87 and its 200 day simple moving average is $58.05. Realty Income Co. has a 12 month low of $50.65 and a 12 month high of $64.88. The company has a market cap of $50.32 billion, a price-to-earnings ratio of 54.76, a PEG ratio of 4.02 and a beta of 0.99.

Realty Income (NYSE:O) last posted its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.30 earnings per share 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 firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the company posted $1.02 EPS. The firm’s revenue was up 28.1% compared to the same quarter last year. Sell-side analysts forecast that Realty Income Co. will post 4.19 EPS for the current year.

Realty Income Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a dividend of $0.2635 per share. This is a boost from Realty Income’s previous monthly dividend of $0.24. This represents a $3.16 dividend on an annualized basis and a dividend yield of 5.50%. The ex-dividend date is Monday, December 2nd. Realty Income’s dividend payout ratio is presently 300.95%.

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.