Cadence Bank Buys 1,200 Shares of Realty Income Co. (NYSE:O)

Cadence Bank increased its position in Realty Income Co. (NYSE:O) by 21.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,806 shares of the real estate investment trust’s stock after purchasing an additional 1,200 shares during the quarter. Cadence Bank’s holdings in Realty Income were worth $432,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of O. Raymond James & Associates increased its position in 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 valued at $410,932,000 after purchasing an additional 3,112,560 shares during the period. Parnassus Investments LLC boosted its stake in shares of Realty Income by 7.4% during the third quarter. Parnassus Investments LLC now owns 24,448,225 shares of the real estate investment trust’s stock valued at $1,550,506,000 after purchasing an additional 1,676,293 shares in the last quarter. Bank of Montreal Can increased its holdings in Realty Income by 102.1% during the third 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 period. Canada Pension Plan Investment Board raised its stake in Realty Income by 63.2% in 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 buying an additional 1,010,876 shares in the last quarter. Finally, Cetera Investment Advisers lifted its holdings in Realty Income by 410.7% during the first quarter. Cetera Investment Advisers now owns 951,335 shares of the real estate investment trust’s stock worth $51,467,000 after buying an additional 765,048 shares during the period. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 value 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on O shares. Mizuho downgraded Realty Income from an “outperform” rating to a “neutral” rating and cut their price target for the company from $64.00 to $60.00 in a report on Thursday, November 14th. 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 note 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 for the company in a research report on Tuesday, November 5th. Royal Bank of Canada cut their price objective on shares of Realty Income from $67.00 to $63.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Finally, UBS Group decreased their target price on shares of Realty Income from $72.00 to $71.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $63.85.

Realty Income Price Performance

Shares of O opened at $58.32 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.40. The company’s fifty day moving average price is $60.48 and its 200-day moving average price is $58.15. Realty Income Co. has a 1-year low of $50.65 and a 1-year high of $64.88. The firm has a market capitalization of $51.04 billion, a PE ratio of 55.54, a price-to-earnings-growth ratio of 4.04 and a beta of 0.99.

Realty Income (NYSE:O) last issued its quarterly 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 for the quarter, compared to analyst estimates 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 was up 28.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.02 EPS. On average, equities research analysts predict that Realty Income Co. will post 4.19 EPS for the current year.

Realty Income Increases Dividend

The firm also recently declared 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 5.42%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Realty Income’s previous monthly dividend of $0.24. Realty Income’s dividend payout ratio is 300.96%.

Realty Income Company 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.