Principal Financial Group Inc. Boosts Stock Position in Realty Income Co. (NYSE:O)

Principal Financial Group Inc. lifted its stake in shares of Realty Income Co. (NYSE:O) by 3.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,190,739 shares of the real estate investment trust’s stock after acquiring an additional 74,185 shares during the quarter. Principal Financial Group Inc. owned approximately 0.25% of Realty Income worth $138,937,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in O. Atlanta Consulting Group Advisors LLC bought a new stake in Realty Income during the third quarter valued at about $896,000. Code Waechter LLC bought a new stake in Realty Income during the 3rd quarter valued at approximately $1,308,000. Charles Schwab Investment Management Inc. lifted its holdings 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 worth $617,028,000 after purchasing an additional 463,286 shares in the last quarter. Swiss National Bank boosted its stake in Realty Income by 1.4% in the 3rd quarter. Swiss National Bank now owns 2,584,694 shares of the real estate investment trust’s stock worth $163,921,000 after purchasing an additional 35,100 shares during the period. Finally, Bank of Montreal Can grew its holdings in Realty Income by 102.1% during the 3rd quarter. Bank of Montreal Can now owns 2,191,962 shares of the real estate investment trust’s stock valued at $137,502,000 after buying an additional 1,107,493 shares in the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

O has been the topic of several research reports. Mizuho cut Realty Income from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $64.00 to $60.00 in a report on Thursday, November 14th. Scotiabank lifted their price objective on Realty Income from $61.00 to $64.00 and gave the stock a “sector perform” rating in a research note on Tuesday, September 17th. Barclays initiated coverage on Realty Income in a research report on Tuesday. They set an “equal weight” rating and a $59.00 target price for the company. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $65.00 price target (up previously from $62.00) on shares of Realty Income in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Realty Income from $60.00 to $67.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 3rd. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Realty Income has an average rating of “Hold” and an average price target of $63.23.

Realty Income Trading Up 2.0 %

NYSE:O opened at $52.79 on Friday. The stock has a market capitalization of $46.20 billion, a price-to-earnings ratio of 50.28, a PEG ratio of 2.05 and a beta of 0.98. Realty Income Co. has a 52 week low of $50.65 and a 52 week high of $64.88. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.68. The firm has a 50 day moving average of $58.19 and a 200 day moving average of $58.34.

Realty Income (NYSE:O) last released its quarterly earnings results 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 analysts’ expectations of $1.26 billion. During the same quarter last year, the business posted $1.02 earnings per share. The company’s quarterly revenue was up 28.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Realty Income Co. will post 4.2 earnings per share for the current fiscal year.

Realty Income Increases Dividend

The company also recently announced a jan 25 dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a $0.264 dividend. This is a positive change from Realty Income’s previous jan 25 dividend of $0.26. The ex-dividend date is Thursday, January 2nd. This represents a yield of 5.7%. Realty Income’s dividend payout ratio (DPR) 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.