Investment Management Corp of Ontario Increases Stock Position in Realty Income Co. (NYSE:O)

Investment Management Corp of Ontario raised its holdings in Realty Income Co. (NYSE:O) by 50.4% during the 3rd quarter, Holdings Channel reports. The firm owned 28,940 shares of the real estate investment trust’s stock after purchasing an additional 9,700 shares during the quarter. Investment Management Corp of Ontario’s holdings in Realty Income were worth $1,835,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. CWM LLC lifted its stake in shares of Realty Income by 2.8% during the second quarter. CWM LLC now owns 76,072 shares of the real estate investment trust’s stock valued at $4,018,000 after buying an additional 2,037 shares during the period. Lantz Financial LLC purchased a new position in shares of Realty Income during the second quarter valued at approximately $234,000. Simplicity Wealth LLC lifted its stake in shares of Realty Income by 14.3% during the second quarter. Simplicity Wealth LLC now owns 25,859 shares of the real estate investment trust’s stock valued at $1,366,000 after buying an additional 3,233 shares during the period. Pacifica Partners Inc. lifted its stake in shares of Realty Income by 444.4% during the second quarter. Pacifica Partners Inc. now owns 490 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 400 shares during the period. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Realty Income during the second quarter valued at approximately $4,666,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Insider Activity at Realty Income

In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the stock in a transaction 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 in the company, valued at $1,663,313.82. This represents a 6.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.10% of the company’s stock.

Realty Income Price Performance

Realty Income stock opened at $56.18 on Thursday. Realty Income Co. has a 52-week low of $50.65 and a 52-week high of $64.88. The firm has a fifty day moving average of $59.99 and a 200-day moving average of $58.22. The firm has a market capitalization of $49.16 billion, a P/E ratio of 53.50, a PEG ratio of 3.99 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 released its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.75). The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.26 billion. Realty Income had a net margin of 17.57% and a return on equity of 2.35%. Realty Income’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.02 earnings per share. As a group, analysts predict that Realty Income Co. will post 4.19 EPS for the current year.

Realty Income Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be issued a dividend of $0.2635 per share. This represents a $3.16 dividend on an annualized basis and a yield of 5.63%. This is a positive change from Realty Income’s previous monthly dividend of $0.24. The ex-dividend date is Monday, December 2nd. Realty Income’s dividend payout ratio (DPR) is presently 300.95%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on O. Royal Bank of Canada reduced their price objective on shares of Realty Income from $67.00 to $63.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Scotiabank increased their price target on shares of Realty Income from $61.00 to $64.00 and gave the stock a “sector perform” rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. increased their price target on shares of Realty Income from $60.00 to $67.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 3rd. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $65.00 price target (up previously from $62.00) on shares of Realty Income in a research note on Tuesday, October 1st. Finally, Stifel Nicolaus cut 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. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Realty Income has an average rating of “Hold” and an average price target of $63.85.

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.