Raymond James Trust N.A. Grows Position in Realty Income Co. (NYSE:O)

Raymond James Trust N.A. increased its position in Realty Income Co. (NYSE:O) by 51.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 65,248 shares of the real estate investment trust’s stock after purchasing an additional 22,294 shares during the period. Raymond James Trust N.A.’s holdings in Realty Income were worth $4,138,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Atlanta Consulting Group Advisors LLC purchased a new position in shares of Realty Income during the third quarter valued at approximately $896,000. Code Waechter LLC bought a new position in Realty Income during the 3rd quarter valued at approximately $1,308,000. Swiss National Bank raised its stake in Realty Income by 1.4% during the third quarter. Swiss National Bank now owns 2,584,694 shares of the real estate investment trust’s stock valued at $163,921,000 after buying an additional 35,100 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Realty Income by 5.0% in the third 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 acquiring an additional 463,286 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Realty Income by 3.5% in the third quarter. Principal Financial Group Inc. now owns 2,190,739 shares of the real estate investment trust’s stock worth $138,937,000 after acquiring an additional 74,185 shares during the last quarter. Institutional investors own 70.81% of the company’s stock.

Realty Income Stock Performance

Shares of O opened at $57.45 on Friday. The firm has a market capitalization of $50.28 billion, a P/E ratio of 54.71, a PEG ratio of 4.04 and a beta of 0.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.40. The business has a fifty day moving average of $60.76 and a 200 day moving average of $58.07. Realty Income Co. has a one year low of $50.65 and a one year high of $64.88.

Realty Income (NYSE:O) last released its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.75). Realty Income had a return on equity of 2.35% and a net margin of 17.57%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the business posted $1.02 earnings per share. The firm’s revenue was up 28.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Realty Income Co. will post 4.19 EPS for the current year.

Realty Income Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a $0.2635 dividend. The ex-dividend date is Monday, December 2nd. This is a boost from Realty Income’s previous monthly dividend of $0.24. This represents a $3.16 dividend on an annualized basis and a dividend yield of 5.50%. Realty Income’s dividend payout ratio is 300.96%.

Wall Street Analysts Forecast Growth

O has been the topic of a number of analyst reports. Royal Bank of Canada dropped their price target on shares of Realty Income from $67.00 to $63.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. 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 target price on the stock. Morgan Stanley reissued an “equal weight” rating and set a $62.00 price target on shares of Realty Income in a research report on Tuesday, August 6th. Robert W. Baird upped their price objective on Realty Income from $57.00 to $58.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Finally, Stifel Nicolaus reduced their target price on Realty Income from $70.50 to $70.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $63.85.

Insider Activity at Realty Income

In related news, Director Mary Hogan Preusse sold 1,712 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total transaction of $107,136.96. Following the completion of the transaction, the director now 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.10% of the stock is owned by corporate insiders.

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.