Oppenheimer Asset Management Inc. Cuts Stock Holdings in Realty Income Co. (NYSE:O)

Oppenheimer Asset Management Inc. trimmed its position in shares of Realty Income Co. (NYSE:O) by 8.7% during the third quarter, Holdings Channel.com reports. The fund owned 47,072 shares of the real estate investment trust’s stock after selling 4,468 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Realty Income were worth $2,985,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of O. Vanguard Group Inc. boosted its holdings in Realty Income by 18.3% during the 1st quarter. Vanguard Group Inc. now owns 134,768,614 shares of the real estate investment trust’s stock worth $7,290,982,000 after acquiring an additional 20,848,560 shares during the last quarter. Raymond James & Associates boosted its holdings in Realty Income by 92.4% during the 3rd quarter. Raymond James & Associates now owns 6,479,542 shares of the real estate investment trust’s stock worth $410,932,000 after acquiring an additional 3,112,560 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Realty Income by 63.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,610,483 shares of the real estate investment trust’s stock worth $137,886,000 after purchasing an additional 1,010,876 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Realty Income by 410.7% in the 1st quarter. Cetera Investment Advisers now owns 951,335 shares of the real estate investment trust’s stock worth $51,467,000 after buying an additional 765,048 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of Realty Income by 54.6% in the 2nd quarter. Federated Hermes Inc. now owns 2,140,696 shares of the real estate investment trust’s stock worth $113,072,000 after buying an additional 755,987 shares during the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

Realty Income Trading Up 0.8 %

Shares of Realty Income stock opened at $56.53 on Friday. Realty Income Co. has a 12-month low of $50.65 and a 12-month high of $64.88. The company has a market cap of $49.48 billion, a price-to-earnings ratio of 53.84, a PEG ratio of 4.00 and a beta of 0.99. 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 company’s 50-day moving average price is $61.43 and its 200-day moving average price is $57.96.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.75). Realty Income had a return on equity of 2.35% and a net margin of 17.57%. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the company posted $1.02 earnings per share. The company’s quarterly revenue was up 28.1% compared to the same quarter last year. On average, equities analysts expect that Realty Income Co. will post 4.19 earnings per share for the current fiscal year.

Realty Income Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a $0.2635 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 5.59%. This is an increase from Realty Income’s previous monthly dividend of $0.24. The ex-dividend date of this dividend is Monday, December 2nd. Realty Income’s dividend payout ratio is presently 300.96%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. UBS Group cut their price target on shares of Realty Income from $72.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday. Mizuho downgraded shares of Realty Income from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $64.00 to $60.00 in a report on Thursday. Wells Fargo & Company reissued an “equal weight” rating and issued a $65.00 price target (up from $62.00) on shares of Realty Income in a report on Tuesday, October 1st. Robert W. Baird boosted their price target on shares of Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Finally, Stifel Nicolaus cut their price target on shares of Realty Income from $70.50 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $63.85.

Insider Transactions at Realty Income

In related news, 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 transaction, the director now directly owns 26,579 shares in the company, valued at approximately $1,663,313.82. This represents a 6.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director A. Larry Chapman sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was 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 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. Insiders own 0.10% of the company’s stock.

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.