Tobam Increases Stock Position in Realty Income Co. (NYSE:O)

11 Oct 2024, 19:26 by Danessa Lincoln · The Markets Daily

Tobam increased its position in shares of Realty Income Co. (NYSE:O – Free Report) by 9.0% during the 3rd quarter, Holdings Channel reports. The firm owned 3,240 shares of the real estate investment trust’s stock after purchasing an additional 267 shares during the quarter. Tobam’s holdings in Realty Income were worth $205,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in O. Vima LLC purchased a new position in shares of Realty Income in the 4th quarter worth about $25,000. Pacifica Partners Inc. increased its stake in shares of Realty Income by 444.4% during the 2nd quarter. Pacifica Partners Inc. now owns 490 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 400 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of Realty Income in the 1st quarter worth approximately $27,000. Bell Investment Advisors Inc grew its holdings in Realty Income by 69.6% during the first quarter. Bell Investment Advisors Inc now owns 529 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 217 shares during the period. Finally, Able Wealth Management LLC bought a new stake in shares of Realty Income in the fourth quarter valued at $32,000. 70.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on O. Wells Fargo & Company restated an “equal weight” rating and issued a $65.00 price objective (up from $62.00) on shares of Realty Income in a research note on Tuesday, October 1st. Wedbush started coverage on shares of Realty Income in a report on Monday, August 19th. They set a “neutral” rating and a $64.00 target price on the stock. Royal Bank of Canada raised their price target on Realty Income from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Morgan Stanley reiterated an “equal weight” rating and set a $62.00 price objective on shares of Realty Income in a research note on Tuesday, August 6th. Finally, Stifel Nicolaus lifted their target price on Realty Income from $67.50 to $70.25 and gave the company a “buy” rating in a report on Wednesday, August 28th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $63.63.

Read Our Latest Report on O

Realty Income Stock Performance

Realty Income stock opened at $61.47 on Friday. Realty Income Co. has a fifty-two week low of $45.03 and a fifty-two week high of $63.60. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.39 and a current ratio of 1.39. The stock has a market cap of $53.53 billion, a P/E ratio of 56.92, a price-to-earnings-growth ratio of 4.30 and a beta of 0.99. The firm’s fifty day moving average price is $61.56 and its 200-day moving average price is $56.60.

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

Realty Income Announces Dividend

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

Insider Buying and Selling at Realty Income

In related news, Director A. Larry Chapman sold 5,000 shares of Realty Income stock in a transaction on 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 owns 5,257 shares in the company, valued at $319,467.89. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Mary Hogan Preusse sold 1,712 shares of the firm’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 transaction, the director now owns 26,579 shares in the company, valued at approximately $1,663,313.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director A. Larry Chapman sold 5,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $60.77, for a total transaction of $303,850.00. Following the sale, the director now owns 5,257 shares of the company’s stock, valued at $319,467.89. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Realty Income Profile

(Free Report)

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.