Plato Investment Management Ltd Acquires 2,359 Shares of Realty Income Co. (NYSE:O)

Plato Investment Management Ltd increased its holdings in Realty Income Co. (NYSE:O) by 683.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,704 shares of the real estate investment trust’s stock after purchasing an additional 2,359 shares during the quarter. Plato Investment Management Ltd’s holdings in Realty Income were worth $171,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Code Waechter LLC purchased a new stake in shares of Realty Income during the third quarter valued at approximately $1,308,000. Principal Financial Group Inc. boosted its position in Realty Income by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 2,190,739 shares of the real estate investment trust’s stock valued at $138,937,000 after buying an additional 74,185 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Realty Income by 17.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,131,375 shares of the real estate investment trust’s stock worth $61,208,000 after acquiring an additional 171,166 shares during the last quarter. Raymond James & Associates increased its position in shares of Realty Income by 92.4% in the third quarter. Raymond James & Associates now owns 6,479,542 shares of the real estate investment trust’s stock valued at $410,932,000 after acquiring an additional 3,112,560 shares during the period. Finally, abrdn plc raised its stake in shares of Realty Income by 15.4% during the third quarter. abrdn plc now owns 1,282,800 shares of the real estate investment trust’s stock valued at $81,079,000 after acquiring an additional 171,236 shares during the last quarter. 70.81% of the stock is owned by institutional investors.

Insider Buying and Selling at Realty Income

In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the company’s 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 transaction, the director now directly owns 5,257 shares in the company, valued at $319,467.89. This represents a 48.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mary Hogan Preusse sold 1,712 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total transaction of $107,136.96. Following the transaction, the director now owns 26,579 shares of the company’s stock, valued at approximately $1,663,313.82. This represents a 6.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

O has been the topic of several research analyst reports. UBS Group reduced their target price on Realty Income from $72.00 to $71.00 and set a “buy” rating on the stock in a research note on Thursday. 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. Wedbush started coverage on shares of Realty Income in a research report on Monday, August 19th. They issued a “neutral” rating and a $64.00 target price for the company. Robert W. Baird increased 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. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $62.00 price objective on shares of Realty Income in a research 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 MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $63.85.

Realty Income Price Performance

NYSE O opened at $56.53 on Friday. Realty Income Co. has a one year low of $50.65 and a one year high of $64.88. The stock has a 50-day moving average of $61.43 and a 200 day moving average of $57.96. 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 company has a market capitalization of $49.48 billion, a price-to-earnings ratio of 53.84, a PEG ratio of 4.00 and a beta of 0.99.

Realty Income (NYSE:O) last posted its earnings results on Monday, November 4th. The real estate investment trust reported $0.30 EPS 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 company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the firm posted $1.02 EPS. The company’s revenue for the quarter was up 28.1% on a year-over-year basis. On average, sell-side analysts forecast 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 represents a $3.16 annualized dividend and a yield of 5.59%. 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. Realty Income’s dividend payout ratio is currently 300.96%.

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.