William Allan Corp Purchases 490 Shares of Realty Income Co. (NYSE:O)

William Allan Corp grew its position in shares of Realty Income Co. (NYSE:O) by 3.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,940 shares of the real estate investment trust’s stock after buying an additional 490 shares during the quarter. William Allan Corp’s holdings in Realty Income were worth $821,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Atlanta Consulting Group Advisors LLC bought a new position in shares of Realty Income in the third quarter valued at about $896,000. Code Waechter LLC bought a new position in shares of Realty Income in the third quarter worth about $1,308,000. Charles Schwab Investment Management Inc. lifted its position in shares of Realty Income by 5.0% during 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 purchasing an additional 463,286 shares in the last quarter. Swiss National Bank grew its stake in shares of 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 purchasing an additional 35,100 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Realty Income by 102.1% in the third 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 purchasing an additional 1,107,493 shares in the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wells Fargo & Company reiterated an “equal weight” rating and issued a $65.00 price objective (up from $62.00) on shares of Realty Income in a research report on Tuesday, October 1st. Royal Bank of Canada decreased their price target on Realty Income from $67.00 to $63.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Mizuho cut Realty Income from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $64.00 to $60.00 in a report on Thursday, November 14th. Scotiabank upped their target price on shares of Realty Income from $61.00 to $64.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 17th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $62.00 price target on shares of Realty Income in a research report on Tuesday, August 6th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $63.85.

Realty Income Stock Up 1.0 %

Shares of NYSE:O opened at $58.32 on Friday. The company has a 50 day moving average price of $60.44 and a two-hundred day moving average price of $58.15. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.40 and a current ratio of 1.40. The company has a market capitalization of $51.04 billion, a PE ratio of 55.54, a PEG ratio of 4.10 and a beta of 0.99. Realty Income Co. has a 52 week low of $50.65 and a 52 week high of $64.88.

Realty Income (NYSE:O) last released its quarterly earnings data 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 firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.26 billion. Realty Income had a net margin of 17.57% and a return on equity of 2.35%. Realty Income’s quarterly revenue was up 28.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.02 EPS. Analysts forecast that Realty Income Co. will post 4.19 earnings per share for the current year.

Realty Income Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.2635 per share. This represents a $3.16 annualized dividend and a dividend yield of 5.42%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Realty Income’s previous monthly dividend of $0.24. Realty Income’s payout ratio is 300.96%.

Insider Activity at Realty Income

In other news, Director Mary Hogan Preusse sold 1,712 shares of the 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 sale, the director now owns 26,579 shares of the company’s stock, valued at $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 is available at this hyperlink. 0.10% of the stock is owned by insiders.

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.