Victory Capital Management Inc. Has $25.88 Million Stake in Realty Income Co. (NYSE:O)

Victory Capital Management Inc. lowered its stake in shares of Realty Income Co. (NYSE:O) by 49.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 408,118 shares of the real estate investment trust’s stock after selling 395,040 shares during the quarter. Victory Capital Management Inc.’s holdings in Realty Income were worth $25,883,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James & Associates lifted its holdings in shares of Realty Income by 92.4% during the 3rd quarter. Raymond James & Associates now owns 6,479,542 shares of the real estate investment trust’s stock worth $410,932,000 after acquiring an additional 3,112,560 shares during the period. Canada Pension Plan Investment Board lifted its stake in Realty Income by 63.2% during the second quarter. Canada Pension Plan Investment Board now owns 2,610,483 shares of the real estate investment trust’s stock worth $137,886,000 after purchasing an additional 1,010,876 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of Realty Income by 410.7% in the 1st quarter. Cetera Investment Advisers now owns 951,335 shares of the real estate investment trust’s stock valued at $51,467,000 after purchasing an additional 765,048 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Realty Income by 54.6% in the 2nd quarter. Federated Hermes Inc. now owns 2,140,696 shares of the real estate investment trust’s stock valued at $113,072,000 after purchasing an additional 755,987 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Realty Income by 4.5% during the 2nd quarter. Legal & General Group Plc now owns 12,258,468 shares of the real estate investment trust’s stock worth $647,492,000 after buying an additional 531,008 shares in the last quarter. 70.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Realty Income

In other news, Director A. Larry Chapman sold 5,000 shares of the firm’s stock in a transaction dated 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 directly owns 5,257 shares in the company, valued at $319,467.89. This trade represents a 48.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Mary Hogan Preusse sold 1,712 shares of the business’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 completion of the sale, the director now directly owns 26,579 shares of the company’s stock, valued at $1,663,313.82. The trade was a 6.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Realty Income Stock Up 0.8 %

Realty Income stock opened at $56.54 on Monday. The firm has a market cap of $49.48 billion, a price-to-earnings ratio of 53.85, a PEG ratio of 3.98 and a beta of 0.99. Realty Income Co. has a 52-week low of $50.65 and a 52-week high of $64.88. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a 50 day moving average price of $61.31 and a two-hundred day moving average price of $58.04.

Realty Income (NYSE:O) last announced its 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 firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the business earned $1.02 EPS. Realty Income’s quarterly revenue was up 28.1% on a year-over-year basis. Equities analysts predict that Realty Income Co. will post 4.19 EPS for the current year.

Realty Income Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a $0.2635 dividend. This is an increase from Realty Income’s previous monthly dividend of $0.24. This represents a $3.16 dividend on an annualized basis and a yield of 5.59%. The ex-dividend date is Monday, December 2nd. Realty Income’s payout ratio is presently 300.95%.

Wall Street Analyst Weigh In

O has been the topic of a number of recent analyst reports. Wells Fargo & Company reiterated an “equal weight” rating and issued a $65.00 target price (up previously from $62.00) on shares of Realty Income in a research report on Tuesday, October 1st. Stifel Nicolaus decreased their price target on shares of Realty Income from $70.50 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Mizuho lowered shares of Realty Income from an “outperform” rating to a “neutral” rating and cut their target price for the company from $64.00 to $60.00 in a research report on Thursday. Royal Bank of Canada lowered their price target on shares of Realty Income from $67.00 to $63.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Finally, Morgan Stanley reissued 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 issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $63.85.

About Realty Income

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.