Conning Inc. Invests $220,000 in Realty Income Co. (NYSE:O)

Conning Inc. bought a new stake in Realty Income Co. (NYSE:O) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,467 shares of the real estate investment trust’s stock, valued at approximately $220,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norden Group LLC bought a new position in Realty Income during the first quarter valued at approximately $356,000. Private Advisor Group LLC raised its position in shares of Realty Income by 8.1% in the 1st quarter. Private Advisor Group LLC now owns 66,635 shares of the real estate investment trust’s stock worth $3,605,000 after purchasing an additional 5,002 shares during the last quarter. Diversify Advisory Services LLC bought a new stake in Realty Income in the 1st quarter worth about $211,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Realty Income by 27.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 182,159 shares of the real estate investment trust’s stock worth $10,280,000 after buying an additional 38,938 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its holdings in Realty Income by 27.1% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 18,843 shares of the real estate investment trust’s stock worth $1,019,000 after buying an additional 4,019 shares in the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Realty Income

In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $60.77, for a total value of $303,850.00. Following the completion of the transaction, the director now directly owns 5,257 shares in the company, valued at approximately $319,467.89. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other 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 transaction, the director now owns 26,579 shares of the company’s stock, valued at approximately $1,663,313.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $60.77, for a total transaction of $303,850.00. Following the transaction, the director now directly owns 5,257 shares in the company, valued at $319,467.89. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Royal Bank of Canada boosted their price objective on Realty Income from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $62.00 price objective on shares of Realty Income in a research report on Tuesday, August 6th. Wells Fargo & Company reissued an “equal weight” rating and set a $65.00 price target (up previously from $62.00) on shares of Realty Income in a research report on Tuesday, October 1st. UBS Group upped their price objective on Realty Income from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Robert W. Baird increased their price target on Realty Income from $57.00 to $58.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Realty Income presently has an average rating of “Hold” and a consensus price target of $63.94.

Realty Income Stock Performance

Shares of O stock opened at $58.88 on Monday. The stock has a market capitalization of $51.28 billion, a PE ratio of 54.52, a price-to-earnings-growth ratio of 4.13 and a beta of 0.99. Realty Income Co. has a 52-week low of $48.67 and a 52-week high of $64.88. The stock’s 50-day moving average price is $62.28 and its 200 day moving average price is $57.77. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.66.

Realty Income (NYSE:O) last announced its quarterly 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). The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Realty Income had a return on equity of 2.36% and a net margin of 17.89%. Realty Income’s revenue was up 31.4% compared to the same quarter last year. During the same period last year, the firm earned $1.00 EPS. As a group, equities research analysts forecast that Realty Income Co. will post 4.2 EPS for the current year.

Realty Income Announces Dividend

The business also recently announced a nov 24 dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a $0.2635 dividend. This represents a yield of 5.1%. The ex-dividend date is Friday, November 1st. Realty Income’s payout ratio is currently 292.59%.

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.