Realty Income Co. (NYSE:O) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its position in shares of Realty Income Co. (NYSE:O) by 3.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 621,476 shares of the real estate investment trust’s stock after acquiring an additional 18,804 shares during the period. The Manufacturers Life Insurance Company owned about 0.07% of Realty Income worth $39,414,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 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 valued at $1,550,506,000 after purchasing an additional 1,676,293 shares during the last quarter. Legal & General Group Plc raised its position in Realty Income by 4.5% in the 2nd quarter. Legal & General Group Plc now owns 12,258,468 shares of the real estate investment trust’s stock valued at $647,492,000 after purchasing an additional 531,008 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Realty Income by 3.7% in the 2nd 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. raised its position in Realty Income by 5.0% in the 3rd 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 last quarter. Finally, APG Asset Management US Inc. raised its position in Realty Income by 3.1% in the 2nd quarter. APG Asset Management US Inc. now owns 8,680,325 shares of the real estate investment trust’s stock valued at $454,502,000 after purchasing an additional 265,000 shares during the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

Insiders Place Their Bets

In related news, Director Mary Hogan Preusse sold 1,712 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total value of $107,136.96. Following the completion of the transaction, the director now owns 26,579 shares of the company’s stock, valued at approximately $1,663,313.82. The trade was a 6.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several 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 report on Tuesday, August 6th. Stifel Nicolaus reduced their target price on shares of Realty Income from $70.50 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Wedbush assumed coverage on shares of Realty Income in a research note on Monday, August 19th. They set a “neutral” rating and a $64.00 price target on the stock. Mizuho cut shares of Realty Income from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $64.00 to $60.00 in a report on Thursday, November 14th. Finally, UBS Group lowered their price objective on Realty Income from $72.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $63.85.

Realty Income Stock Up 1.0 %

O opened at $58.32 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.40 and a current ratio of 1.40. The company has a market cap of $51.04 billion, a price-to-earnings ratio of 55.54, a PEG ratio of 4.04 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 business’s fifty day moving average is $60.44 and its two-hundred day moving average is $58.15.

Realty Income (NYSE:O) last issued its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.75). The business had revenue of $1.33 billion during the quarter, compared to analyst estimates 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 was up 28.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.02 earnings per share. Analysts anticipate 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. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.2635 per share. This represents a $3.16 dividend on an annualized basis and a yield of 5.42%. 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. Realty Income’s dividend payout ratio is 300.96%.

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.