Cornerstone Advisors LLC Purchases 7,900 Shares of Realty Income Co. (NYSE:O)

Cornerstone Advisors LLC increased its holdings in Realty Income Co. (NYSE:O) by 43.4% during the 3rd quarter, Holdings Channel reports. The firm owned 26,100 shares of the real estate investment trust’s stock after buying an additional 7,900 shares during the period. Cornerstone Advisors LLC’s holdings in Realty Income were worth $1,655,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Parnassus Investments LLC boosted its stake in shares of Realty Income by 7.4% during the 3rd quarter. Parnassus Investments LLC now owns 24,448,225 shares of the real estate investment trust’s stock valued at $1,550,506,000 after purchasing an additional 1,676,293 shares in the last quarter. Legal & General Group Plc boosted its position in Realty Income by 4.5% during the 2nd quarter. Legal & General Group Plc now owns 12,258,468 shares of the real estate investment trust’s stock valued at $647,492,000 after acquiring an additional 531,008 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Realty Income by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 11,682,105 shares of the real estate investment trust’s stock worth $617,043,000 after acquiring an additional 413,865 shares during the period. APG Asset Management US Inc. raised its position in shares of Realty Income by 3.1% in the 2nd quarter. APG Asset Management US Inc. now owns 8,680,325 shares of the real estate investment trust’s stock worth $454,502,000 after acquiring an additional 265,000 shares in the last quarter. Finally, Raymond James & Associates lifted its stake in shares of 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 valued at $410,932,000 after purchasing an additional 3,112,560 shares during the period. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Insider Activity

In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total transaction of $107,136.96. Following the transaction, the director now owns 26,579 shares in the company, valued at $1,663,313.82. The trade was a 6.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.10% of the company’s stock.

Realty Income Trading Up 1.1 %

Shares of Realty Income stock opened at $57.50 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.68. The firm has a market cap of $50.32 billion, a price-to-earnings ratio of 54.76, a PEG ratio of 4.02 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. The business has a 50-day moving average price of $60.87 and a 200-day moving average price of $58.05.

Realty Income (NYSE:O) last released its quarterly earnings data 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 the consensus estimate of $1.26 billion. During the same period in the previous year, the firm earned $1.02 EPS. The business’s revenue was up 28.1% compared to the same quarter last year. Equities research analysts anticipate that Realty Income Co. will post 4.19 EPS for the current fiscal year.

Realty Income Increases Dividend

The firm also recently announced 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. The ex-dividend date is Monday, December 2nd. This is an increase from Realty Income’s previous monthly dividend of $0.24. This represents a $3.16 dividend on an annualized basis and a dividend yield of 5.50%. Realty Income’s payout ratio is 300.95%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Mizuho downgraded Realty Income from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $64.00 to $60.00 in a report on Thursday, November 14th. Wedbush began coverage on shares of Realty Income in a report on Monday, August 19th. They set a “neutral” rating and a $64.00 price target on the stock. Wells Fargo & Company reiterated an “equal weight” rating and issued a $65.00 price objective (up from $62.00) on shares of Realty Income in a report on Tuesday, October 1st. Morgan Stanley reaffirmed an “equal weight” rating and set a $62.00 price target on shares of Realty Income in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Realty Income from $60.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Realty Income currently has an average rating of “Hold” and a consensus target price of $63.85.

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.