Van ECK Associates Corp Increases Holdings in Realty Income Co. (NYSE:O)

Van ECK Associates Corp lifted its holdings in shares of Realty Income Co. (NYSE:O) by 13.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 403,091 shares of the real estate investment trust’s stock after buying an additional 47,954 shares during the period. Van ECK Associates Corp’s holdings in Realty Income were worth $25,895,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Code Waechter LLC acquired a new stake in shares of Realty Income during the third quarter worth about $1,308,000. Texas Permanent School Fund Corp boosted its holdings in Realty Income by 15.0% during the first quarter. Texas Permanent School Fund Corp now owns 171,916 shares of the real estate investment trust’s stock worth $9,301,000 after buying an additional 22,440 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Realty Income by 17.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,131,375 shares of the real estate investment trust’s stock worth $61,208,000 after buying an additional 171,166 shares in the last quarter. Raymond James & Associates grew its position in Realty Income by 92.4% during the third quarter. Raymond James & Associates now owns 6,479,542 shares of the real estate investment trust’s stock worth $410,932,000 after buying an additional 3,112,560 shares during the period. Finally, abrdn plc increased its holdings in Realty Income by 15.4% in the third quarter. abrdn plc now owns 1,282,800 shares of the real estate investment trust’s stock valued at $81,079,000 after buying an additional 171,236 shares in the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Realty Income Stock Performance

NYSE O opened at $59.29 on Tuesday. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $51.63 billion, a PE ratio of 54.90, a price-to-earnings-growth ratio of 4.13 and a beta of 0.99. The business’s 50-day moving average price is $62.23 and its 200 day moving average price is $57.82. Realty Income Co. has a twelve month low of $49.52 and a twelve month high of $64.88.

Realty Income (NYSE:O) last released its earnings results on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Realty Income had a net margin of 17.89% and a return on equity of 2.36%. Realty Income’s revenue for the quarter was up 31.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.00 earnings per share. On average, research analysts predict that Realty Income Co. will post 4.2 earnings per share for the current year.

Realty Income Dividend Announcement

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

Insider Transactions at Realty Income

In other news, Director A. Larry Chapman sold 5,000 shares of Realty Income stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $60.77, for a total value of $303,850.00. Following the transaction, the director now directly owns 5,257 shares of the company’s stock, valued at $319,467.89. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Mary Hogan Preusse sold 1,712 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total value of $107,136.96. Following the completion of the sale, the director now directly owns 26,579 shares in the company, valued at approximately $1,663,313.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director A. Larry Chapman sold 5,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $60.77, for a total value of $303,850.00. Following the transaction, the director now owns 5,257 shares in the company, valued at approximately $319,467.89. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on O. Stifel Nicolaus upped their price target on Realty Income from $67.50 to $70.25 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Morgan Stanley reissued an “equal weight” rating and issued a $62.00 price objective on shares of Realty Income in a research note on Tuesday, August 6th. Royal Bank of Canada lifted their target price on shares of Realty Income from $58.00 to $64.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. UBS Group increased their price target on shares of Realty Income from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $65.00 price objective (up from $62.00) on shares of Realty Income in a research report on Tuesday, October 1st. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $63.94.

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.