Advisors Asset Management Inc. reduced its stake in shares of Realty Income Co. (NYSE:O - Free Report) by 30.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 institutional investors and hedge funds also recently modified their holdings of the company. Strategy Asset Managers LLC raised its stake in Realty Income by 22.6% during the 3rd quarter. Strategy Asset Managers LLC now owns 5,489 shares of the real estate investment trust's stock worth $348,000 after buying an additional 1,012 shares during the period. Segall Bryant & Hamill LLC bought a new stake in shares of Realty Income in the third quarter worth about $843,000. Prospera Private Wealth LLC lifted its holdings in shares of Realty Income by 2.3% during the 3rd quarter. Prospera Private Wealth LLC now owns 15,455 shares of the real estate investment trust's stock valued at $980,000 after purchasing an additional 342 shares in the last quarter. New Millennium Group LLC grew its position in shares of Realty Income by 69.2% in the 3rd quarter. New Millennium Group LLC now owns 2,627 shares of the real estate investment trust's stock valued at $167,000 after purchasing an additional 1,074 shares during the period. Finally, West Family Investments Inc. increased its stake in Realty Income by 7.2% during the 3rd quarter. West Family Investments Inc. now owns 4,783 shares of the real estate investment trust's stock worth $303,000 after purchasing an additional 321 shares in the last quarter. 70.81% of the stock is owned by institutional investors.
In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the firm'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 transaction, the director now directly owns 26,579 shares of the company's stock, valued at $1,663,313.82. This trade represents a 6.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.10% of the company's stock.
O has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price target 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. Stifel Nicolaus reduced their target price on shares of Realty Income from $70.50 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, November 5th. Mizuho downgraded 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. Wedbush began coverage on Realty Income in a report on Monday, August 19th. They issued a "neutral" rating and a $64.00 price target on the stock. Finally, Morgan Stanley reiterated an "equal weight" rating and set a $62.00 price objective on shares of Realty Income in a report on Tuesday, August 6th. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $63.85.
Get Our Latest Research Report on O
Shares of O opened at $57.45 on Friday. The company has a market cap 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 firm has a 50-day moving average of $60.76 and a 200-day moving average of $58.07. Realty Income Co. has a one year low of $50.65 and a one year high of $64.88. 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 - Get Free Report) 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 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 business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the firm earned $1.02 EPS. Realty Income's quarterly revenue was up 28.1% compared to the same quarter last year. As a group, equities analysts forecast that Realty Income Co. will post 4.19 earnings per share for the current year.
The business also recently disclosed a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.2635 per share. This represents a $3.16 dividend on an annualized basis and a yield of 5.50%. This is a boost from Realty Income's previous monthly dividend of $0.24. The ex-dividend date of this dividend is Monday, December 2nd. Realty Income's payout ratio is 300.95%.
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.
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