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

The Manufacturers Life Insurance Company increased its holdings in shares of Realty Income Co. (NYSE:O) by 3.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 621,476 shares of the real estate investment trust’s stock after purchasing an additional 18,804 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Realty Income were worth $39,414,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Raymond James & Associates boosted its holdings in Realty Income by 92.4% in the 3rd quarter. Raymond James & Associates now owns 6,479,542 shares of the real estate investment trust’s stock worth $410,932,000 after acquiring an additional 3,112,560 shares during the period. Parnassus Investments LLC boosted its holdings 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 worth $1,550,506,000 after acquiring an additional 1,676,293 shares during the period. Bank of Montreal Can boosted its holdings in Realty Income by 102.1% in the 3rd quarter. Bank of Montreal Can now owns 2,191,962 shares of the real estate investment trust’s stock worth $137,502,000 after acquiring an additional 1,107,493 shares during the period. Canada Pension Plan Investment Board boosted its holdings in Realty Income by 63.2% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,610,483 shares of the real estate investment trust’s stock worth $137,886,000 after acquiring an additional 1,010,876 shares during the period. Finally, Cetera Investment Advisers boosted its holdings in Realty Income by 410.7% in the 1st quarter. Cetera Investment Advisers now owns 951,335 shares of the real estate investment trust’s stock worth $51,467,000 after acquiring an additional 765,048 shares during the period. Institutional investors and hedge funds own 70.81% of the company’s stock.

Insiders Place Their Bets

In other Realty Income 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 sale, the director now directly owns 26,579 shares of the company’s stock, valued at $1,663,313.82. This trade represents a 6.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.10% of the stock is owned by corporate insiders.

Realty Income Stock Performance

Shares of O opened at $58.32 on Friday. The business’s fifty day moving average price is $60.44 and its 200 day moving average price is $58.15. Realty Income Co. has a 12-month low of $50.65 and a 12-month high of $64.88. The stock has a market capitalization of $51.04 billion, a PE ratio of 55.54, a price-to-earnings-growth 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.

Realty Income (NYSE:O) last issued its 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 company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the business earned $1.02 earnings per share. Realty Income’s quarterly revenue was up 28.1% on a year-over-year basis. Equities research analysts forecast that Realty Income Co. will post 4.19 EPS for the current 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 given a $0.2635 dividend. The ex-dividend date is Monday, December 2nd. This is a positive change from Realty Income’s previous monthly dividend of $0.24. This represents a $3.16 annualized dividend and a yield of 5.42%. Realty Income’s dividend payout ratio (DPR) is currently 300.96%.

Analyst Ratings Changes

A number of equities analysts have weighed in on O shares. Wedbush assumed coverage on Realty Income in a report on Monday, August 19th. They issued a “neutral” rating and a $64.00 price target for the company. Robert W. Baird increased their target price on Realty Income from $57.00 to $58.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Royal Bank of Canada reduced their target price on Realty Income from $67.00 to $63.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Scotiabank increased their target price on Realty Income from $61.00 to $64.00 and gave the company a “sector perform” rating in a research note on Tuesday, September 17th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $62.00 target price on shares of Realty Income in a research note on Tuesday, August 6th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $63.85.

Realty Income 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.