Advisors Asset Management Inc. Has $4.19 Million Holdings in Realty Income Co. (NYSE:O)

Advisors Asset Management Inc. lowered its stake in Realty Income Co. (NYSE:O) by 30.7% in the third quarter, Holdings Channel reports. The fund owned 66,009 shares of the real estate investment trust’s stock after selling 29,236 shares during the quarter. Advisors Asset Management Inc.’s holdings in Realty Income were worth $4,186,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Raymond James & Associates increased its holdings in Realty Income by 92.4% in 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 purchasing an additional 3,112,560 shares in the last quarter. Parnassus Investments LLC grew its holdings in shares of Realty Income by 7.4% during the third quarter. Parnassus Investments LLC now owns 24,448,225 shares of the real estate investment trust’s stock worth $1,550,506,000 after purchasing an additional 1,676,293 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in Realty Income by 63.2% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,610,483 shares of the real estate investment trust’s stock valued at $137,886,000 after buying an additional 1,010,876 shares during the last quarter. Cetera Investment Advisers boosted its position in Realty Income by 410.7% during 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 period. Finally, Federated Hermes Inc. grew its holdings in Realty Income by 54.6% during 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 acquiring an additional 755,987 shares during the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on O. Royal Bank of Canada dropped their price target on shares of Realty Income from $67.00 to $63.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Stifel Nicolaus cut their target price on Realty Income from $70.50 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Wedbush started coverage on Realty Income in a research note on Monday, August 19th. They issued a “neutral” rating and a $64.00 price target for the company. Wells Fargo & Company reiterated an “equal weight” rating and issued a $65.00 target price (up from $62.00) on shares of Realty Income in a report on Tuesday, October 1st. Finally, UBS Group lowered their price target 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. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Realty Income currently has an average rating of “Hold” and a consensus price target of $63.85.

Realty Income Price Performance

O stock opened at $57.45 on Friday. Realty Income Co. has a 1 year low of $50.65 and a 1 year high of $64.88. The stock has a market capitalization of $50.28 billion, a PE ratio of 54.71, a price-to-earnings-growth ratio of 4.02 and a beta of 0.99. The company’s 50-day moving average is $60.76 and its 200-day moving average is $58.07. 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 (NYSE:O) last announced its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.75). Realty Income had a net margin of 17.57% and a return on equity of 2.35%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the business posted $1.02 EPS. The company’s revenue was up 28.1% on a year-over-year basis. Equities research analysts expect that Realty Income Co. will post 4.19 EPS for the current fiscal year.

Realty Income Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.2635 per share. This is an increase from Realty Income’s previous monthly dividend of $0.24. The ex-dividend date is Monday, December 2nd. This represents a $3.16 annualized dividend and a yield of 5.50%. Realty Income’s dividend payout ratio is presently 300.95%.

Insider Activity

In related news, Director Mary Hogan Preusse sold 1,712 shares of the stock in a transaction on Wednesday, September 11th. The stock was 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 directly owns 26,579 shares of the company’s stock, valued at approximately $1,663,313.82. This represents a 6.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.10% of the company’s stock.

Realty Income 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.