Mirae Asset Global Investments Co. Ltd. Acquires 60,497 Shares of Realty Income Corporation $O

Mirae Asset Global Investments Co. Ltd. increased its stake in Realty Income Corporation (NYSE:O) by 23.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 321,812 shares of the real estate investment trust’s stock after buying an additional 60,497 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Realty Income were worth $19,563,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Ballentine Partners LLC boosted its stake in Realty Income by 7.0% in the third quarter. Ballentine Partners LLC now owns 16,642 shares of the real estate investment trust’s stock valued at $1,012,000 after acquiring an additional 1,092 shares during the last quarter. Mystic Asset Management Inc. raised its holdings in shares of Realty Income by 3.0% in the 3rd quarter. Mystic Asset Management Inc. now owns 33,935 shares of the real estate investment trust’s stock worth $2,063,000 after purchasing an additional 978 shares during the period. Federated Hermes Inc. lifted its stake in Realty Income by 0.8% in the third quarter. Federated Hermes Inc. now owns 2,690,664 shares of the real estate investment trust’s stock valued at $163,565,000 after purchasing an additional 21,633 shares during the last quarter. Truist Financial Corp grew its holdings in Realty Income by 7.2% during the third quarter. Truist Financial Corp now owns 1,237,540 shares of the real estate investment trust’s stock valued at $75,230,000 after purchasing an additional 82,928 shares during the period. Finally, Novare Capital Management LLC increased its position in Realty Income by 1.6% in the third quarter. Novare Capital Management LLC now owns 154,534 shares of the real estate investment trust’s stock worth $9,394,000 after buying an additional 2,468 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on O. Deutsche Bank Aktiengesellschaft raised Realty Income from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research report on Tuesday, January 20th. Cantor Fitzgerald dropped their price objective on shares of Realty Income from $64.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Royal Bank Of Canada lifted their target price on shares of Realty Income from $60.00 to $61.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Wells Fargo & Company boosted their price target on shares of Realty Income from $59.00 to $60.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 25th. Finally, Mizuho cut their price objective on shares of Realty Income from $63.00 to $60.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $62.71.

Realty Income Trading Up 1.1%

Shares of Realty Income stock opened at $60.72 on Friday. The company’s 50-day moving average price is $58.18 and its 200-day moving average price is $58.33. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.72. Realty Income Corporation has a 12-month low of $50.71 and a 12-month high of $61.95. The company has a market cap of $55.85 billion, a price-to-earnings ratio of 56.22, a PEG ratio of 3.86 and a beta of 0.80.

Realty Income (NYSE:O) last posted its earnings results on Monday, November 3rd. The real estate investment trust reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.01. Realty Income had a net margin of 17.17% and a return on equity of 2.45%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the firm posted $1.05 EPS. Realty Income’s revenue was up 10.5% on a year-over-year basis. Realty Income has set its FY 2025 guidance at 4.250-4.270 EPS. On average, equities analysts expect that Realty Income Corporation will post 4.19 earnings per share for the current fiscal year.

Realty Income Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be given a dividend of $0.27 per share. This represents a c) annualized dividend and a yield of 5.3%. The ex-dividend date is Friday, January 30th. Realty Income’s payout ratio is presently 300.00%.

Realty Income Company Profile

Realty Income Corporation (NYSE: O) is a real estate investment trust (REIT) that acquires, owns and manages commercial properties subject primarily to long-term net lease agreements. The company’s business model focuses on generating predictable, contractual rental income by leasing properties to tenants under agreements that typically place responsibility for taxes, insurance and maintenance on the tenant. Realty Income is publicly traded on the New York Stock Exchange and markets itself as a reliable income-oriented REIT.

Realty Income’s portfolio is concentrated in single-tenant, retail and service-oriented properties such as drugstores, convenience stores, dollar and discount retailers, restaurants, and other essential-service businesses.