Franklin Resources Inc. increased its stake in Realty Income Co. (NYSE:O – Free Report) by 4.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 559,263 shares of the real estate investment trust’s stock after purchasing an additional 22,614 shares during the period. Franklin Resources Inc.’s holdings in Realty Income were worth $34,736,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in O. Peapack Gladstone Financial Corp increased its stake in shares of Realty Income by 0.7% in the third quarter. Peapack Gladstone Financial Corp now owns 71,562 shares of the real estate investment trust’s stock valued at $4,538,000 after purchasing an additional 518 shares during the period. Tidal Investments LLC raised its stake in Realty Income by 39.2% during the 3rd quarter. Tidal Investments LLC now owns 35,097 shares of the real estate investment trust’s stock valued at $2,215,000 after acquiring an additional 9,891 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Realty Income during the 3rd quarter worth $1,032,000. World Investment Advisors LLC bought a new position in shares of Realty Income in the third quarter worth $1,411,000. Finally, Sanctuary Advisors LLC increased its holdings in shares of Realty Income by 57.0% during the third quarter. Sanctuary Advisors LLC now owns 239,642 shares of the real estate investment trust’s stock valued at $15,198,000 after purchasing an additional 86,979 shares during the period. Institutional investors and hedge funds own 70.81% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on O shares. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $65.00 price objective (up previously from $62.00) on shares of Realty Income in a report on Tuesday, October 1st. UBS Group decreased their price objective on shares of Realty Income from $72.00 to $71.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Royal Bank of Canada dropped their target price 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 shares of Realty Income from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $64.00 to $60.00 in a research report on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Realty Income in a research report on Wednesday, December 11th. They set a “hold” rating and a $62.00 price objective for the company. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $63.23.
Realty Income Stock Performance
Shares of O stock opened at $52.81 on Thursday. The firm has a market cap of $46.22 billion, a P/E ratio of 50.30, a PEG ratio of 2.05 and a beta of 0.98. 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 fifty-two week low of $50.65 and a fifty-two week high of $64.88. The stock’s 50-day moving average is $58.56 and its two-hundred day moving average is $58.39.
Realty Income (NYSE:O – Get Free Report) last released its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.75). The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.26 billion. Realty Income had a net margin of 17.57% and a return on equity of 2.35%. The firm’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.02 EPS. Analysts predict that Realty Income Co. will post 4.2 earnings per share for the current fiscal year.
Realty Income Increases Dividend
The company also recently declared a jan 25 dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a $0.264 dividend. This is a positive change from Realty Income’s previous jan 25 dividend of $0.26. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a dividend yield of 5.7%. Realty Income’s dividend payout ratio (DPR) is currently 300.96%.
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.
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