Carnegie Investment Counsel Grows Stake in Realty Income Corporation $O

Carnegie Investment Counsel grew its holdings in Realty Income Corporation (NYSE:O) by 4.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 94,030 shares of the real estate investment trust’s stock after buying an additional 4,142 shares during the quarter. Carnegie Investment Counsel’s holdings in Realty Income were worth $5,417,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nuveen LLC purchased a new stake in shares of Realty Income in the 1st quarter valued at $207,573,000. Vanguard Group Inc. raised its holdings in Realty Income by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 142,511,359 shares of the real estate investment trust’s stock worth $8,267,084,000 after purchasing an additional 3,274,853 shares in the last quarter. Centersquare Investment Management LLC raised its holdings in Realty Income by 27.0% in the 1st quarter. Centersquare Investment Management LLC now owns 4,971,123 shares of the real estate investment trust’s stock worth $288,375,000 after purchasing an additional 1,055,840 shares in the last quarter. Raymond James Financial Inc. raised its holdings in Realty Income by 9.6% in the 1st quarter. Raymond James Financial Inc. now owns 11,356,883 shares of the real estate investment trust’s stock worth $658,813,000 after purchasing an additional 992,303 shares in the last quarter. Finally, Adelante Capital Management LLC raised its holdings in Realty Income by 1,380.2% in the 1st quarter. Adelante Capital Management LLC now owns 860,671 shares of the real estate investment trust’s stock worth $49,928,000 after purchasing an additional 802,526 shares in the last quarter. Institutional investors own 70.81% of the company’s stock.

Realty Income Stock Down 0.3%

Shares of O opened at $60.03 on Friday. The firm has a market capitalization of $54.89 billion, a P/E ratio of 58.28, a P/E/G ratio of 4.60 and a beta of 0.78. Realty Income Corporation has a 12-month low of $50.71 and a 12-month high of $63.29. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.72. The firm has a fifty day moving average price of $59.40 and a 200-day moving average price of $57.74.

Realty Income (NYSE:O) last issued its earnings results on Wednesday, August 6th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.01). The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Realty Income had a net margin of 16.77% and a return on equity of 2.34%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.07 earnings per share. Equities research analysts expect that Realty Income Corporation will post 4.19 earnings per share for the current year.

Realty Income Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid a dividend of $0.2695 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend is Friday, October 31st. Realty Income’s payout ratio is currently 313.59%.

Analysts Set New Price Targets

Several research analysts recently issued reports on O shares. Barclays increased their price target on shares of Realty Income from $59.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Monday. Cantor Fitzgerald assumed coverage on shares of Realty Income in a report on Wednesday, October 1st. They issued a “neutral” rating and a $64.00 price objective on the stock. Wolfe Research downgraded shares of Realty Income from an “outperform” rating to a “peer perform” rating in a report on Monday, July 14th. Evercore ISI assumed coverage on shares of Realty Income in a research note on Wednesday, October 1st. They set an “in-line” rating and a $62.00 target price on the stock. Finally, Scotiabank lifted their price objective on shares of Realty Income from $58.00 to $60.00 and gave the company a “sector perform” rating in a research report on Thursday, August 28th. Three equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $62.58.

Insider Buying and Selling at Realty Income

In related news, Director Mary Hogan Preusse sold 11,000 shares of Realty Income stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $60.43, for a total value of $664,730.00. Following the completion of the sale, the director directly owned 19,211 shares in the company, valued at $1,160,920.73. The trade was a 36.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.10% of the stock is owned by insiders.

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.