Van ECK Associates Corp Acquires 47,954 Shares of Realty Income Co. (NYSE:O)

Van ECK Associates Corp grew its stake in shares of Realty Income Co. (NYSE:O) by 13.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 403,091 shares of the real estate investment trust’s stock after acquiring an additional 47,954 shares during the period. Van ECK Associates Corp’s holdings in Realty Income were worth $25,895,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in O. ZWJ Investment Counsel Inc. lifted its holdings 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 buying an additional 164 shares during the period. Whittier Trust Co. lifted its stake 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 during the last quarter. Greenleaf Trust boosted its position in Realty Income by 1.0% during the third quarter. Greenleaf Trust now owns 16,911 shares of the real estate investment trust’s stock valued at $1,072,000 after purchasing an additional 170 shares in the last quarter. Grove Bank & Trust grew its stake in 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 purchasing an additional 176 shares during the last quarter. Finally, Buckley Wealth Management LLC raised its holdings in 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 worth $599,000 after purchasing an additional 176 shares in the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Realty Income

In related news, Director A. Larry Chapman sold 5,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $60.77, for a total transaction of $303,850.00. Following the completion of the transaction, the director now owns 5,257 shares in the company, valued at $319,467.89. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction, the director now directly owns 5,257 shares of the company’s stock, valued at approximately $319,467.89. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Mary Hogan Preusse sold 1,712 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total value 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on O. Scotiabank raised their price target on shares of Realty Income from $61.00 to $64.00 and gave the company a “sector perform” rating in a report on Tuesday, September 17th. Morgan Stanley restated an “equal weight” rating and issued a $62.00 target price on shares of Realty Income in a research note on Tuesday, August 6th. Royal Bank of Canada upped their price target on Realty Income from $58.00 to $64.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Wells Fargo & Company reissued an “equal weight” rating and issued a $65.00 price objective (up previously from $62.00) on shares of Realty Income in a research report on Tuesday, October 1st. Finally, Wedbush initiated coverage on Realty Income in a research note on Monday, August 19th. They set a “neutral” rating and a $64.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $63.94.

Realty Income Trading Up 0.7 %

NYSE O opened at $59.29 on Tuesday. Realty Income Co. has a 1 year low of $49.52 and a 1 year high of $64.88. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.39 and a quick ratio of 1.39. The company has a market capitalization of $51.63 billion, a PE ratio of 54.90, a P/E/G ratio of 4.13 and a beta of 0.99. The company has a fifty day moving average of $62.23 and a 200 day moving average of $57.82.

Realty Income (NYSE:O) last issued its earnings results on Monday, August 5th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Realty Income had a return on equity of 2.36% and a net margin of 17.89%. The firm’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.00 EPS. Research analysts forecast that Realty Income Co. will post 4.2 earnings per share for the current year.

Realty Income Announces Dividend

The company also recently disclosed a nov 24 dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a $0.2635 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a yield of 5.1%. Realty Income’s payout ratio is 292.59%.

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.