Pitcairn Co. Cuts Holdings in Realty Income Co. (NYSE:O)

Pitcairn Co. lowered its holdings in Realty Income Co. (NYSE:O) by 23.6% in the 3rd quarter, Holdings Channel reports. The firm owned 3,757 shares of the real estate investment trust’s stock after selling 1,163 shares during the period. Pitcairn Co.’s holdings in Realty Income were worth $238,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of O. Parnassus Investments LLC raised its position in Realty Income by 7.4% in the 3rd quarter. Parnassus Investments LLC now owns 24,448,225 shares of the real estate investment trust’s stock worth $1,550,506,000 after buying an additional 1,676,293 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Realty Income by 4.5% in the second quarter. Legal & General Group Plc now owns 12,258,468 shares of the real estate investment trust’s stock worth $647,492,000 after acquiring an additional 531,008 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Realty Income by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 11,682,105 shares of the real estate investment trust’s stock valued at $617,043,000 after purchasing an additional 413,865 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Realty Income by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 9,729,229 shares of the real estate investment trust’s stock valued at $617,028,000 after purchasing an additional 463,286 shares during the period. Finally, APG Asset Management US Inc. boosted its holdings in Realty Income by 3.1% in the second quarter. APG Asset Management US Inc. now owns 8,680,325 shares of the real estate investment trust’s stock worth $454,502,000 after purchasing an additional 265,000 shares during the last quarter. 70.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total transaction of $107,136.96. Following the completion of the transaction, the director now owns 26,579 shares of the company’s stock, valued at $1,663,313.82. This represents a 6.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is currently owned by corporate insiders.

Realty Income Stock Performance

Shares of NYSE O opened at $58.32 on Thursday. The stock has a market cap of $51.04 billion, a PE ratio of 55.54, a price-to-earnings-growth ratio of 4.04 and a beta of 0.99. Realty Income Co. has a 1 year low of $50.65 and a 1 year high of $64.88. The firm has a fifty day moving average price of $60.48 and a 200-day moving average price of $58.15. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.40.

Realty Income (NYSE:O) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.75). Realty Income had a return on equity of 2.35% and a net margin of 17.57%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the company posted $1.02 EPS. The company’s quarterly revenue was up 28.1% on a year-over-year basis. Equities analysts anticipate that Realty Income Co. will post 4.19 earnings per share for the current fiscal 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 issued a $0.2635 dividend. The ex-dividend date of this dividend is Monday, December 2nd. 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 yield of 5.42%. Realty Income’s payout ratio is currently 300.96%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on O. Scotiabank boosted their target price on shares of Realty Income from $61.00 to $64.00 and gave the company a “sector perform” rating in a research note on Tuesday, September 17th. UBS Group reduced their price objective on Realty Income from $72.00 to $71.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Wells Fargo & Company reissued an “equal weight” rating and issued a $65.00 target price (up from $62.00) on shares of Realty Income in a research report on Tuesday, October 1st. Mizuho lowered shares of Realty Income from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $64.00 to $60.00 in a research report on Thursday, November 14th. Finally, Wedbush began coverage on shares of Realty Income in a research report on Monday, August 19th. They set a “neutral” rating and a $64.00 target price for the company. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $63.85.

Realty Income 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.