Empowered Funds LLC Raises Stake in Realty Income Co. (NYSE:O)

Empowered Funds LLC increased its stake in Realty Income Co. (NYSE:O) by 2.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,101 shares of the real estate investment trust’s stock after purchasing an additional 428 shares during the quarter. Empowered Funds LLC’s holdings in Realty Income were worth $954,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. ZWJ Investment Counsel Inc. increased its stake in shares of Realty Income by 0.6% in the third quarter. ZWJ Investment Counsel Inc. now owns 29,279 shares of the real estate investment trust’s stock worth $1,857,000 after purchasing an additional 164 shares in the last quarter. Whittier Trust Co. lifted its position in shares of Realty Income by 4.5% during the third quarter. Whittier Trust Co. now owns 3,871 shares of the real estate investment trust’s stock worth $245,000 after acquiring an additional 166 shares in the last quarter. Greenleaf Trust raised its stake in shares of Realty Income by 1.0% during the 3rd quarter. Greenleaf Trust now owns 16,911 shares of the real estate investment trust’s stock valued at $1,072,000 after purchasing an additional 170 shares during the period. Grove Bank & Trust lifted its holdings in Realty Income by 14.3% during the 3rd quarter. Grove Bank & Trust now owns 1,409 shares of the real estate investment trust’s stock worth $89,000 after purchasing an additional 176 shares in the last quarter. Finally, Buckley Wealth Management LLC boosted its stake in Realty Income by 1.9% in the 3rd quarter. Buckley Wealth Management LLC now owns 9,450 shares of the real estate investment trust’s stock worth $599,000 after purchasing an additional 176 shares during the period. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Stifel Nicolaus cut their price objective on shares of Realty Income from $70.50 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. UBS Group cut their price target on shares of Realty Income from $72.00 to $71.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Wedbush started coverage on Realty Income in a research report on Monday, August 19th. They issued a “neutral” rating and a $64.00 price objective on the stock. Scotiabank boosted their target price on Realty Income from $61.00 to $64.00 and gave the stock a “sector perform” rating in a research report on Tuesday, September 17th. Finally, Mizuho lowered Realty Income from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $64.00 to $60.00 in a research note on Thursday, November 14th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $63.85.

Realty Income Stock Up 0.1 %

Shares of NYSE O opened at $57.45 on Friday. The stock has a market capitalization of $50.28 billion, a P/E ratio of 54.71, a PEG ratio of 4.02 and a beta of 0.99. Realty Income Co. has a one year low of $50.65 and a one year high of $64.88. The firm’s 50 day simple moving average is $60.76 and its two-hundred day simple moving average is $58.07. 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 released its earnings results on Monday, November 4th. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.75). The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate 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 prior year, the business posted $1.02 EPS. As a group, analysts expect that Realty Income Co. will post 4.19 EPS for the current fiscal year.

Realty Income Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a $0.2635 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 5.50%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Realty Income’s previous monthly dividend of $0.24. Realty Income’s payout ratio is 300.95%.

Insider Activity at Realty Income

In related 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 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 trade was a 6.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.10% of the stock is currently owned by company insiders.

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.