Investment Management Corp of Ontario Grows Stock Holdings in Realty Income Co. (NYSE:O)

Investment Management Corp of Ontario grew its holdings in Realty Income Co. (NYSE:O) by 50.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,940 shares of the real estate investment trust’s stock after purchasing an additional 9,700 shares during the quarter. Investment Management Corp of Ontario’s holdings in Realty Income were worth $1,835,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. ZWJ Investment Counsel Inc. increased its holdings in shares of Realty Income by 0.6% during the 3rd quarter. ZWJ Investment Counsel Inc. now owns 29,279 shares of the real estate investment trust’s stock worth $1,857,000 after buying an additional 164 shares during the last quarter. Whittier Trust Co. increased its holdings in shares of Realty Income by 4.5% during the 3rd quarter. Whittier Trust Co. now owns 3,871 shares of the real estate investment trust’s stock worth $245,000 after buying an additional 166 shares during the last quarter. Greenleaf Trust increased its holdings 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 worth $1,072,000 after buying an additional 170 shares during the last quarter. Grove Bank & Trust increased its holdings in shares of 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 buying an additional 176 shares during the last quarter. Finally, Buckley Wealth Management LLC increased its holdings 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 valued at $599,000 after purchasing an additional 176 shares during the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Realty Income

In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the company’s 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 directly owns 26,579 shares in the company, valued at approximately $1,663,313.82. This represents a 6.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

O has been the subject of several research reports. JPMorgan Chase & Co. lifted their target price on shares of Realty Income from $60.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Wells Fargo & Company reiterated an “equal weight” rating and issued a $65.00 target price (up previously from $62.00) on shares of Realty Income in a report on Tuesday, October 1st. Wedbush started coverage on shares of Realty Income in a research note on Monday, August 19th. They issued a “neutral” rating and a $64.00 price target for the company. Scotiabank boosted their price target on shares of Realty Income from $61.00 to $64.00 and gave the stock a “sector perform” rating in a research note on Tuesday, September 17th. Finally, Mizuho downgraded shares of Realty Income from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $64.00 to $60.00 in a research note on Thursday, November 14th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Realty Income presently has an average rating of “Hold” and a consensus price target of $63.85.

Realty Income Trading Up 0.3 %

NYSE O opened at $56.18 on Thursday. 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 firm has a market cap of $49.16 billion, a PE ratio of 53.50, a P/E/G ratio of 3.99 and a beta of 0.98. Realty Income Co. has a one year low of $50.65 and a one year high of $64.88. The firm’s fifty day moving average is $59.99 and its two-hundred day moving average is $58.22.

Realty Income (NYSE:O) last posted 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). Realty Income had a net margin of 17.57% and a return on equity of 2.35%. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the firm posted $1.02 earnings per share. The company’s revenue for the quarter was up 28.1% compared to the same quarter last year. Analysts expect that Realty Income Co. will post 4.19 earnings per share for the current year.

Realty Income Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.2635 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 5.63%. This is a positive change from Realty Income’s previous monthly dividend of $0.24. The ex-dividend date of this dividend is Monday, December 2nd. Realty Income’s payout ratio is 300.95%.

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.