Duff & Phelps Investment Management Co. Has $36.35 Million Stock Position in Realty Income Co. (NYSE:O)

Duff & Phelps Investment Management Co. cut its stake in shares of Realty Income Co. (NYSE:O) by 43.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 573,115 shares of the real estate investment trust’s stock after selling 436,770 shares during the period. Duff & Phelps Investment Management Co. owned 0.07% of Realty Income worth $36,347,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. ZWJ Investment Counsel Inc. increased its position in Realty Income by 0.6% during the third quarter. ZWJ Investment Counsel Inc. now owns 29,279 shares of the real estate investment trust’s stock worth $1,857,000 after acquiring an additional 164 shares during the period. Whittier Trust Co. grew its position 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 purchasing an additional 166 shares in the last quarter. Greenleaf Trust increased its holdings in shares of Realty Income by 1.0% during the third quarter. Greenleaf Trust now owns 16,911 shares of the real estate investment trust’s stock worth $1,072,000 after purchasing an additional 170 shares during the period. Grove Bank & Trust raised its position in shares of Realty Income by 14.3% in the third quarter. Grove Bank & Trust now owns 1,409 shares of the real estate investment trust’s stock valued at $89,000 after buying an additional 176 shares in the last quarter. Finally, Buckley Wealth Management LLC boosted its stake in shares of Realty Income by 1.9% in the third quarter. Buckley Wealth Management LLC now owns 9,450 shares of the real estate investment trust’s stock valued at $599,000 after buying an additional 176 shares during the period. Institutional investors own 70.81% of the company’s stock.

Insider Activity at Realty Income

In related news, Director Mary Hogan Preusse sold 1,712 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total transaction of $107,136.96. Following the completion of the sale, the director now 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on O shares. Scotiabank raised 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. Wells Fargo & Company restated an “equal weight” rating and issued a $65.00 price target (up previously from $62.00) on shares of Realty Income in a research report on Tuesday, October 1st. Stifel Nicolaus cut their price objective on shares of Realty Income from $70.50 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. UBS Group reduced their price objective on shares of Realty Income from $72.00 to $71.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Finally, Wedbush assumed coverage on shares of Realty Income in a research report on Monday, August 19th. They issued a “neutral” rating and a $64.00 target price for the company. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $63.67.

Realty Income Stock Performance

Realty Income stock opened at $56.17 on Monday. The business has a 50 day moving average of $59.73 and a 200-day moving average of $58.27. 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 Co. has a 1 year low of $50.65 and a 1 year high of $64.88. The company has a market capitalization of $49.16 billion, a P/E ratio of 53.50, a P/E/G ratio of 3.95 and a beta of 0.98.

Realty Income (NYSE:O) last issued 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). The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.26 billion. Realty Income had a return on equity of 2.35% and a net margin of 17.57%. Realty Income’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.02 EPS. On average, equities research analysts predict that Realty Income Co. will post 4.2 earnings per share for the current year.

Realty Income Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, December 13th. Investors 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 yield of 5.63%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Realty Income’s previous monthly dividend of $0.24. Realty Income’s dividend payout ratio (DPR) is currently 300.96%.

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.