Zions Bancorporation N.A. Boosts Stake in Realty Income Co. (NYSE:O)

Zions Bancorporation N.A. increased its stake in Realty Income Co. (NYSE:O) by 48.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 109,182 shares of the real estate investment trust’s stock after purchasing an additional 35,555 shares during the quarter. Zions Bancorporation N.A.’s holdings in Realty Income were worth $5,767,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Realty Income by 18.3% in the first quarter. Vanguard Group Inc. now owns 134,768,614 shares of the real estate investment trust’s stock worth $7,290,982,000 after purchasing an additional 20,848,560 shares during the period. Norges Bank bought a new position in Realty Income in the 4th quarter worth $506,526,000. Cbre Investment Management Listed Real Assets LLC increased its stake in Realty Income by 213.3% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,171,853 shares of the real estate investment trust’s stock worth $124,708,000 after buying an additional 1,478,577 shares in the last quarter. Raymond James & Associates raised its holdings in Realty Income by 76.6% during the second quarter. Raymond James & Associates now owns 3,366,982 shares of the real estate investment trust’s stock valued at $177,844,000 after acquiring an additional 1,460,884 shares during the period. Finally, GRS Advisors LLC purchased a new position in shares of Realty Income in the fourth quarter valued at about $58,843,000. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director A. Larry Chapman sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $60.77, for a total value of $303,850.00. Following the completion of the sale, the director now owns 5,257 shares in the company, valued at approximately $319,467.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.10% of the stock is owned by corporate insiders.

Realty Income Stock Performance

Shares of NYSE:O opened at $62.41 on Friday. The firm has a fifty day simple moving average of $59.30 and a two-hundred day simple moving average of $55.26. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $54.35 billion, a P/E ratio of 57.79, a PEG ratio of 4.65 and a beta of 0.99. Realty Income Co. has a 52 week low of $45.03 and a 52 week high of $63.39.

Realty Income (NYSE:O) last released its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.07). Realty Income had a return on equity of 3.27% and a net margin of 17.89%. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the business posted $1.00 EPS. The company’s revenue was up 31.4% on a year-over-year basis. On average, analysts expect that Realty Income Co. will post 3.93 earnings per share for the current fiscal year.

Realty Income Increases Dividend

The business also recently declared a oct 24 dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a dividend of $0.2635 per share. This represents a yield of 5%. The ex-dividend date of this dividend is Tuesday, October 1st. This is a positive change from Realty Income’s previous oct 24 dividend of $0.26. Realty Income’s dividend payout ratio is presently 292.59%.

Analysts Set New Price Targets

O has been the subject of several research analyst reports. Robert W. Baird increased their target price on Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Morgan Stanley reaffirmed an “equal weight” rating and set a $62.00 price objective on shares of Realty Income in a report on Tuesday, August 6th. KeyCorp initiated coverage on shares of Realty Income in a report on Wednesday, June 12th. They issued a “sector weight” rating on the stock. Scotiabank raised their target price on shares of Realty Income from $56.00 to $61.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Finally, JPMorgan Chase & Co. lifted their price target 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. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Realty Income currently has an average rating of “Hold” and an average price target of $62.38.

Realty Income Company 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.