Canal Capital Management LLC Grows Position in Realty Income Co. (NYSE:O)

Canal Capital Management LLC raised its holdings in Realty Income Co. (NYSE:O) by 5.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,893 shares of the real estate investment trust’s stock after purchasing an additional 6,110 shares during the period. Realty Income accounts for about 1.1% of Canal Capital Management LLC’s holdings, making the stock its 29th biggest position. Canal Capital Management LLC’s holdings in Realty Income were worth $7,033,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

O has been the topic of a number of recent analyst reports. UBS Group increased their price objective on Realty Income from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Scotiabank raised their price target on Realty Income from $61.00 to $64.00 and gave the company a “sector perform” rating in a report on Tuesday, September 17th. 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. Robert W. Baird raised their target price on shares of Realty Income from $57.00 to $58.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Finally, Wedbush assumed coverage on shares of Realty Income in a research note on Monday, August 19th. They issued a “neutral” rating and a $64.00 price target for the company. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Realty Income has a consensus rating of “Hold” and a consensus target price of $63.94.

Realty Income Price Performance

Shares of NYSE:O opened at $63.56 on Friday. The company’s fifty day moving average is $62.25 and its 200 day moving average is $57.31. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.66. Realty Income Co. has a 52 week low of $45.03 and a 52 week high of $64.88. The stock has a market cap of $55.35 billion, a PE ratio of 58.62, a PEG ratio of 4.43 and a beta of 0.99.

Realty Income (NYSE:O) last released its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.07). Realty Income had a return on equity of 2.36% and a net margin of 17.89%. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the firm posted $1.00 EPS. The firm’s quarterly revenue was up 31.4% on a year-over-year basis. Research analysts anticipate that Realty Income Co. will post 4.2 earnings per share for the current year.

Realty Income Dividend Announcement

The company also recently announced a nov 24 dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a $0.2635 dividend. This represents a dividend yield of 5.1%. The ex-dividend date of this dividend is Friday, November 1st. Realty Income’s dividend payout ratio is 292.59%.

Insider Buying and Selling

In other news, Director A. Larry Chapman sold 5,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $60.77, for a total transaction of $303,850.00. Following the completion of the transaction, the director now directly owns 5,257 shares of the company’s stock, valued at approximately $319,467.89. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total transaction of $107,136.96. Following the transaction, the director now directly owns 26,579 shares of the company’s stock, valued at approximately $1,663,313.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $303,850.00. Following the completion of the sale, the director now directly owns 5,257 shares of the company’s stock, valued at approximately $319,467.89. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

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.