BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Raises Position in Realty Income Co. (NYSE:O)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Realty Income Co. (NYSE:O) by 66.1% in the second quarter, Holdings Channel.com reports. The firm owned 164,940 shares of the real estate investment trust’s stock after acquiring an additional 65,628 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Realty Income were worth $8,712,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Resources Management Corp CT ADV increased its holdings in Realty Income by 6.4% during the 2nd quarter. Resources Management Corp CT ADV now owns 39,842 shares of the real estate investment trust’s stock worth $2,104,000 after purchasing an additional 2,408 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Realty Income by 18.6% in the second quarter. Bank of Montreal Can now owns 1,084,469 shares of the real estate investment trust’s stock worth $57,455,000 after buying an additional 169,985 shares during the last quarter. Magnetar Financial LLC acquired a new stake in Realty Income in the second quarter valued at $928,000. Public Sector Pension Investment Board boosted its stake in Realty Income by 23.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 121,281 shares of the real estate investment trust’s stock valued at $6,406,000 after acquiring an additional 22,890 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Realty Income by 19.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,241 shares of the real estate investment trust’s stock worth $358,000 after acquiring an additional 1,026 shares in the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

Realty Income Stock Up 0.1 %

O opened at $62.65 on Thursday. The company has a market capitalization of $54.56 billion, a PE ratio of 58.01, a price-to-earnings-growth ratio of 4.34 and a beta of 0.99. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.39 and a quick ratio of 1.39. The business has a 50-day moving average of $60.53 and a 200-day moving average of $55.85. Realty Income Co. has a fifty-two week low of $45.03 and a fifty-two week high of $63.39.

Realty Income (NYSE:O) last announced its earnings results on Monday, August 5th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.07). Realty Income had a return on equity of 3.27% and a net margin of 17.89%. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the business earned $1.00 EPS. The business’s revenue was up 31.4% compared to the same quarter last year. Equities research analysts forecast that Realty Income Co. will post 4.2 EPS for the current fiscal year.

Realty Income Increases Dividend

The company also recently announced a oct 24 dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a $0.2635 dividend. This is a positive change from Realty Income’s previous oct 24 dividend of $0.26. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a dividend yield of 5%. Realty Income’s dividend payout ratio is presently 292.59%.

Insider Activity

In other Realty Income 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 value of $107,136.96. Following the transaction, the director now directly owns 26,579 shares of the company’s stock, valued at $1,663,313.82. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Mary Hogan Preusse sold 1,712 shares of Realty Income 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 of the company’s stock, valued at $1,663,313.82. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director A. Larry Chapman sold 5,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $60.77, for a total transaction of $303,850.00. Following the completion of the sale, the director now owns 5,257 shares of the company’s stock, valued at approximately $319,467.89. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on O. Morgan Stanley reiterated an “equal weight” rating and issued a $62.00 price target on shares of Realty Income in a research note on Tuesday, August 6th. KeyCorp started coverage on Realty Income in a research note on Wednesday, June 12th. They issued a “sector weight” rating for the company. Wedbush began coverage on shares of Realty Income in a research note on Monday, August 19th. They set a “neutral” rating and a $64.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on shares of Realty Income from $60.00 to $67.00 and gave the stock a “neutral” rating in a report on Tuesday, September 3rd. Finally, UBS Group raised their target price on shares of Realty Income from $61.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $62.59.

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.