Cerity Partners LLC Purchases 32,600 Shares of Realty Income Co. (NYSE:O)

Cerity Partners LLC lifted its holdings in Realty Income Co. (NYSE:O) by 60.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 86,934 shares of the real estate investment trust’s stock after acquiring an additional 32,600 shares during the period. Cerity Partners LLC’s holdings in Realty Income were worth $5,513,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of O. ZWJ Investment Counsel Inc. raised its holdings in Realty Income by 0.6% in the 3rd quarter. ZWJ Investment Counsel Inc. now owns 29,279 shares of the real estate investment trust’s stock valued at $1,857,000 after acquiring an additional 164 shares in the last quarter. Whittier Trust Co. grew its stake in Realty Income by 4.5% during the third quarter. Whittier Trust Co. now owns 3,871 shares of the real estate investment trust’s stock worth $245,000 after buying an additional 166 shares in the last quarter. Greenleaf Trust increased its holdings in Realty Income by 1.0% in the 3rd quarter. Greenleaf Trust now owns 16,911 shares of the real estate investment trust’s stock valued at $1,072,000 after buying an additional 170 shares during the period. Grove Bank & Trust raised its position in shares of Realty Income by 14.3% in the 3rd quarter. Grove Bank & Trust now owns 1,409 shares of the real estate investment trust’s stock valued at $89,000 after buying an additional 176 shares in the last quarter. Finally, Buckley Wealth Management LLC lifted its holdings in shares of Realty Income by 1.9% during the 3rd quarter. Buckley Wealth Management LLC now owns 9,450 shares of the real estate investment trust’s stock worth $599,000 after acquiring an additional 176 shares during the period. 70.81% of the stock is owned by institutional investors.

Realty Income Trading Up 1.0 %

NYSE O opened at $58.32 on Friday. The firm has a market capitalization of $51.04 billion, a PE ratio of 55.54, a price-to-earnings-growth ratio of 4.04 and a beta of 0.99. The business’s 50-day moving average price is $60.44 and its two-hundred day moving average price is $58.15. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.68. Realty Income Co. has a 12 month low of $50.65 and a 12 month high of $64.88.

Realty Income (NYSE:O) last announced its earnings results on Monday, November 4th. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.75). Realty Income had a net margin of 17.57% and a return on equity of 2.35%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the company earned $1.02 earnings per share. The business’s revenue was up 28.1% on a year-over-year basis. On average, analysts expect that Realty Income Co. will post 4.19 EPS for the current year.

Realty Income Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be issued a $0.2635 dividend. This is a positive change from Realty Income’s previous monthly dividend of $0.24. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $3.16 annualized dividend and a yield of 5.42%. Realty Income’s payout ratio is presently 300.96%.

Analyst Upgrades and Downgrades

Several brokerages have commented on O. 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 research report on Tuesday, September 3rd. Morgan Stanley reiterated an “equal weight” rating and issued a $62.00 target price on shares of Realty Income in a research report on Tuesday, August 6th. Scotiabank increased their target price on shares of Realty Income from $61.00 to $64.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 17th. Wedbush initiated 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. Finally, Robert W. Baird increased their price objective on shares of Realty Income from $57.00 to $58.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Realty Income presently has a consensus rating of “Hold” and an average target price of $63.85.

Insider Buying and Selling at Realty Income

In other news, Director Mary Hogan Preusse sold 1,712 shares of the firm’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 transaction of $107,136.96. Following the completion of the sale, the director now 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 sale was disclosed in a filing with the SEC, which is available through this link. 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.