Eagle Asset Management Inc. Purchases 149,628 Shares of Realty Income Co. (NYSE:O)

Eagle Asset Management Inc. lifted its position in Realty Income Co. (NYSE:O) by 71.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 357,950 shares of the real estate investment trust’s stock after buying an additional 149,628 shares during the period. Eagle Asset Management Inc.’s holdings in Realty Income were worth $22,701,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Atlanta Consulting Group Advisors LLC bought a new position in Realty Income during the 3rd quarter worth about $896,000. Code Waechter LLC bought a new position in Realty Income during the 3rd quarter worth about $1,308,000. Swiss National Bank increased its holdings in Realty Income by 1.4% during the 3rd quarter. Swiss National Bank now owns 2,584,694 shares of the real estate investment trust’s stock worth $163,921,000 after purchasing an additional 35,100 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Realty Income by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,729,229 shares of the real estate investment trust’s stock worth $617,028,000 after purchasing an additional 463,286 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings 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 worth $138,937,000 after purchasing an additional 74,185 shares in the last quarter. Institutional investors own 70.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on O shares. Mizuho cut Realty Income from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $64.00 to $60.00 in a report on Thursday, November 14th. Wedbush began coverage on Realty Income in a report on Monday, August 19th. They issued a “neutral” rating and a $64.00 price objective for the company. Wells Fargo & Company restated an “equal weight” rating and issued a $65.00 price objective (up previously from $62.00) on shares of Realty Income in a report on Tuesday, October 1st. Morgan Stanley restated an “equal weight” rating and issued a $62.00 price objective on shares of Realty Income in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. raised their price objective on Realty Income from $60.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $63.85.

Realty Income Trading Up 0.1 %

Shares of NYSE:O opened at $57.45 on Friday. Realty Income Co. has a 52-week low of $50.65 and a 52-week high of $64.88. The company has a market capitalization of $50.28 billion, a P/E ratio of 54.71, a price-to-earnings-growth ratio of 4.04 and a beta of 0.99. The company has a 50-day simple moving average of $60.76 and a 200 day simple moving average of $58.07. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.40 and a current ratio of 1.40.

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). The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.26 billion. Realty Income had a return on equity of 2.35% and a net margin of 17.57%. The company’s revenue was up 28.1% on a year-over-year basis. During the same quarter last year, the business earned $1.02 earnings per share. Sell-side analysts forecast that Realty Income Co. will post 4.19 earnings per share for the current year.

Realty Income Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.2635 per share. The ex-dividend date is Monday, December 2nd. This is a boost from Realty Income’s previous monthly dividend of $0.24. This represents a $3.16 annualized dividend and a dividend yield of 5.50%. Realty Income’s dividend payout ratio (DPR) is currently 300.96%.

Insider Transactions at Realty Income

In other news, Director Mary Hogan Preusse sold 1,712 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total transaction of $107,136.96. Following the transaction, the director now directly owns 26,579 shares of the company’s stock, valued at approximately $1,663,313.82. This trade represents a 6.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.