Grimes & Company Inc. Takes $370,000 Position in Realty Income Co. (NYSE:O)

Grimes & Company Inc. purchased a new stake in Realty Income Co. (NYSE:O) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,831 shares of the real estate investment trust’s stock, valued at approximately $370,000.

Other institutional investors also recently modified their holdings of the company. Pacifica Partners Inc. increased its position in Realty Income by 444.4% during the second quarter. Pacifica Partners Inc. now owns 490 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 400 shares during the period. Bell Investment Advisors Inc increased its position 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 worth $29,000 after acquiring an additional 217 shares during the period. MFA Wealth Advisors LLC bought a new position in Realty Income during the second quarter worth $33,000. 1620 Investment Advisors Inc. bought a new position in Realty Income during the second quarter worth $42,000. Finally, Headlands Technologies LLC bought a new position in Realty Income during the second quarter worth $42,000. Institutional investors own 70.81% of the company’s stock.

Insiders Place Their Bets

In other news, Director Mary Hogan Preusse sold 1,712 shares of the stock in a transaction that occurred 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 owns 26,579 shares of the company’s stock, valued at approximately $1,663,313.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $60.77, for a total value of $303,850.00. Following the completion of the sale, the director now owns 5,257 shares of the company’s stock, valued at approximately $319,467.89. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mary Hogan Preusse sold 1,712 shares of the 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 completion of the sale, the director now directly owns 26,579 shares of the company’s stock, valued at approximately $1,663,313.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Realty Income Price Performance

Shares of O opened at $63.31 on Friday. Realty Income Co. has a 52-week low of $45.03 and a 52-week high of $64.88. 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 50 day simple moving average of $62.25 and a 200 day simple moving average of $57.31. The firm has a market capitalization of $55.13 billion, a PE ratio of 58.62, a P/E/G ratio of 4.43 and a beta of 0.99.

Realty Income (NYSE:O) 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 return on equity of 2.36% and a net margin of 17.89%. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the company earned $1.00 EPS. The company’s revenue was up 31.4% compared to the same quarter last year. Sell-side analysts predict that Realty Income Co. will post 4.2 EPS for the current fiscal year.

Realty Income Dividend Announcement

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

Wall Street Analysts Forecast Growth

O has been the topic of a number of research reports. UBS Group boosted their target price on shares of Realty Income from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada lifted their price target on shares of Realty Income from $58.00 to $64.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Robert W. Baird lifted their price target on shares of Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Stifel Nicolaus lifted their price target on shares of Realty Income from $67.50 to $70.25 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $65.00 price target (up previously from $62.00) on shares of Realty Income in a research note on Tuesday, October 1st. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Realty Income presently has an average rating of “Hold” and a consensus price target of $63.94.

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.