Realty Income Co. (NYSE:O) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Realty Income Co. (NYSE:O) by 5.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 595,033 shares of the real estate investment trust’s stock after buying an additional 33,043 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Realty Income were worth $37,737,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Atlanta Consulting Group Advisors LLC acquired a new stake in Realty Income during the third quarter valued at $896,000. Code Waechter LLC bought a new stake in shares of Realty Income during the third quarter worth $1,308,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Realty Income by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,729,229 shares of the real estate investment trust’s stock valued at $617,028,000 after purchasing an additional 463,286 shares during the period. Swiss National Bank boosted its position in shares of Realty Income by 1.4% during the third quarter. Swiss National Bank now owns 2,584,694 shares of the real estate investment trust’s stock worth $163,921,000 after purchasing an additional 35,100 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in Realty Income by 102.1% in the 3rd quarter. Bank of Montreal Can now owns 2,191,962 shares of the real estate investment trust’s stock valued at $137,502,000 after buying an additional 1,107,493 shares during the last quarter. 70.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on O shares. Stifel Nicolaus dropped their price objective on Realty Income from $70.50 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Royal Bank of Canada reduced their target price on Realty Income from $67.00 to $63.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Wells Fargo & Company reiterated an “equal weight” rating and set a $65.00 price target (up previously from $62.00) on shares of Realty Income in a research note on Tuesday, October 1st. Morgan Stanley reaffirmed an “equal weight” rating and issued a $62.00 price target on shares of Realty Income in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. boosted their price target 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. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $63.85.

Realty Income Stock Performance

NYSE O opened at $58.32 on Friday. Realty Income Co. has a fifty-two week low of $50.65 and a fifty-two 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 company has a market cap of $51.04 billion, a P/E ratio of 55.54, a P/E/G ratio of 4.10 and a beta of 0.99. The business’s 50 day moving average price is $60.44 and its 200-day moving average price is $58.15.

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 analysts’ consensus estimates of $1.05 by ($0.75). The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.26 billion. Realty Income had a return on equity of 2.35% and a net margin of 17.57%. The business’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.02 earnings per share. Sell-side analysts predict that Realty Income Co. will post 4.19 earnings per share for the current year.

Realty Income Increases Dividend

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

Insider Activity at Realty Income

In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total transaction of $107,136.96. Following the sale, the director now owns 26,579 shares in the company, valued at $1,663,313.82. This represents a 6.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.10% of the stock is owned by corporate insiders.

Realty Income 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.