Marco Investment Management LLC Boosts Holdings in Realty Income Co. (NYSE:O)

Marco Investment Management LLC raised its position in Realty Income Co. (NYSE:O) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,121 shares of the real estate investment trust’s stock after acquiring an additional 851 shares during the period. Marco Investment Management LLC’s holdings in Realty Income were worth $3,940,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. ZWJ Investment Counsel Inc. increased its holdings in shares of Realty Income by 0.6% during the third quarter. ZWJ Investment Counsel Inc. now owns 29,279 shares of the real estate investment trust’s stock valued at $1,857,000 after acquiring an additional 164 shares in the last quarter. Whittier Trust Co. raised its holdings in shares of Realty Income by 4.5% in the third quarter. Whittier Trust Co. now owns 3,871 shares of the real estate investment trust’s stock worth $245,000 after buying an additional 166 shares during the last quarter. Greenleaf Trust lifted its stake in shares of Realty Income by 1.0% during the third quarter. Greenleaf Trust now owns 16,911 shares of the real estate investment trust’s stock worth $1,072,000 after buying an additional 170 shares during the period. Grove Bank & Trust grew its holdings in shares of Realty Income by 14.3% during the third quarter. Grove Bank & Trust now owns 1,409 shares of the real estate investment trust’s stock valued at $89,000 after buying an additional 176 shares during the last quarter. Finally, Buckley Wealth Management LLC raised its stake in Realty Income by 1.9% in the 3rd quarter. Buckley Wealth Management LLC now owns 9,450 shares of the real estate investment trust’s stock worth $599,000 after acquiring an additional 176 shares during the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on O. Stifel Nicolaus dropped their price target on Realty Income from $70.50 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Scotiabank increased their price target on shares of Realty Income from $61.00 to $64.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 17th. UBS Group decreased their price objective on shares of Realty Income from $72.00 to $71.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $65.00 price objective (up previously from $62.00) on shares of Realty Income in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. boosted their target price 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $63.85.

Insider Activity

In related news, Director Mary Hogan Preusse sold 1,712 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total transaction of $107,136.96. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.10% of the company’s stock.

Realty Income Price Performance

Realty Income stock opened at $57.45 on Friday. The company’s fifty day moving average price is $60.76 and its 200 day moving average price is $58.09. Realty Income Co. has a 1 year low of $50.65 and a 1 year high of $64.88. The stock has a market capitalization of $50.28 billion, a P/E ratio of 54.71, a P/E/G ratio of 4.04 and a beta of 0.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.40 and a current ratio of 1.40.

Realty Income (NYSE:O) last posted its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.75). Realty Income had a net margin of 17.57% and a return on equity of 2.35%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the business earned $1.02 earnings per share. The business’s revenue for the quarter was up 28.1% on a year-over-year basis. As a group, equities research analysts anticipate that Realty Income Co. will post 4.19 earnings per share for the current fiscal year.

Realty Income Increases Dividend

The company 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 dividend of $0.2635 per share. The ex-dividend date is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 5.50%. This is a boost from Realty Income’s previous monthly dividend of $0.24. Realty Income’s dividend payout ratio is presently 300.96%.

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.