Parnassus Investments LLC Purchases 1,676,293 Shares of Realty Income Co. (NYSE:O)

Parnassus Investments LLC lifted its position in shares of Realty Income Co. (NYSE:O) by 7.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,448,225 shares of the real estate investment trust’s stock after purchasing an additional 1,676,293 shares during the quarter. Realty Income accounts for approximately 3.3% of Parnassus Investments LLC’s portfolio, making the stock its 5th largest holding. Parnassus Investments LLC owned 2.81% of Realty Income worth $1,550,506,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Realty Income in the 3rd quarter valued at $1,437,000. Silver Lake Group L.L.C. acquired a new stake in Realty Income in the 3rd quarter valued at $218,000. Fifth Third Wealth Advisors LLC grew its stake in Realty Income by 77.3% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 11,567 shares of the real estate investment trust’s stock valued at $734,000 after acquiring an additional 5,043 shares during the period. Whalen Wealth Management Inc. acquired a new stake in Realty Income in the 3rd quarter valued at $330,000. Finally, Caprock Group LLC grew its stake in Realty Income by 28.1% in the 3rd quarter. Caprock Group LLC now owns 8,687 shares of the real estate investment trust’s stock valued at $551,000 after acquiring an additional 1,904 shares during the period. Institutional investors and hedge funds own 70.81% of the company’s stock.

Realty Income Trading Up 0.4 %

Shares of O stock opened at $56.77 on Tuesday. The company’s 50-day moving average price is $61.19 and its 200-day moving average price is $58.05. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.68. The stock has a market cap of $49.69 billion, a price-to-earnings ratio of 54.07, a PEG ratio of 3.98 and a beta of 0.99. Realty Income Co. has a twelve month low of $50.65 and a twelve month high of $64.88.

Realty Income (NYSE:O) last announced its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.75). The firm had revenue of $1.33 billion for 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 company’s revenue was up 28.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.02 EPS. As a group, equities analysts predict that Realty Income Co. will post 4.19 earnings per share for the current year.

Realty Income Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be issued a $0.2635 dividend. This is a positive change from Realty Income’s previous monthly dividend of $0.24. This represents a $3.16 annualized dividend and a yield of 5.57%. The ex-dividend date is Monday, December 2nd. Realty Income’s payout ratio is 300.96%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. 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 research note on Tuesday, September 3rd. Mizuho cut shares of Realty Income from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $64.00 to $60.00 in a research note on Thursday, November 14th. Morgan Stanley reaffirmed an “equal weight” rating and set a $62.00 target price on shares of Realty Income in a research note on Tuesday, August 6th. Stifel Nicolaus lowered their target price on shares of Realty Income from $70.50 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada lowered their target price on shares of Realty Income from $67.00 to $63.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $63.85.

Insider Activity at Realty Income

In related news, Director Mary Hogan Preusse sold 1,712 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total value of $107,136.96. Following the sale, the director now directly owns 26,579 shares in the company, valued at approximately $1,663,313.82. The trade was a 6.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director A. Larry Chapman sold 5,000 shares of the business’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 sale, the director now owns 5,257 shares in the company, valued at approximately $319,467.89. This trade represents a 48.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

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.