Heitman Real Estate Securities LLC Trims Stock Position in Realty Income Co. (NYSE:O)

Heitman Real Estate Securities LLC lessened its position in Realty Income Co. (NYSE:O) by 6.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 393,737 shares of the real estate investment trust’s stock after selling 25,966 shares during the period. Realty Income comprises 1.4% of Heitman Real Estate Securities LLC’s portfolio, making the stock its 29th largest holding. Heitman Real Estate Securities LLC’s holdings in Realty Income were worth $24,971,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in O. Parnassus Investments LLC grew its holdings in shares of Realty Income by 7.4% in 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. Legal & General Group Plc raised its holdings in shares of Realty Income by 4.5% in the second quarter. Legal & General Group Plc now owns 12,258,468 shares of the real estate investment trust’s stock worth $647,492,000 after buying an additional 531,008 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Realty Income by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 11,682,105 shares of the real estate investment trust’s stock valued at $617,043,000 after purchasing an additional 413,865 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Realty Income by 5.0% during 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 acquiring an additional 463,286 shares during the period. Finally, APG Asset Management US Inc. increased its stake in Realty Income by 3.1% during the 2nd quarter. APG Asset Management US Inc. now owns 8,680,325 shares of the real estate investment trust’s stock worth $454,502,000 after buying an additional 265,000 shares in the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Realty Income Stock Down 1.6 %

Shares of Realty Income stock opened at $56.68 on Tuesday. Realty Income Co. has a 52-week low of $50.65 and a 52-week high of $64.88. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $49.61 billion, a P/E ratio of 53.98, a P/E/G ratio of 4.07 and a beta of 0.98. The company has a 50 day moving average of $60.36 and a 200 day moving average of $58.22.

Realty Income (NYSE:O) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.75). The business had revenue of $1.33 billion during 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 firm’s quarterly revenue was up 28.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.02 earnings per share. As a group, research analysts forecast that Realty Income Co. will post 4.19 EPS for the current fiscal year.

Realty Income Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be given a $0.2635 dividend. 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. This represents a $3.16 dividend on an annualized basis and a dividend yield of 5.58%. Realty Income’s dividend payout ratio (DPR) is 300.96%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on O shares. Mizuho downgraded Realty Income from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $64.00 to $60.00 in a research report on Thursday, November 14th. 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. Wedbush initiated coverage on shares of Realty Income in a research note on Monday, August 19th. They set a “neutral” rating and a $64.00 price target on the stock. Wells Fargo & Company reissued an “equal weight” rating and issued a $65.00 price objective (up from $62.00) on shares of Realty Income in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. lifted their target price on Realty Income from $60.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Realty Income currently has a consensus rating of “Hold” and an average target price of $63.85.

Insider Buying and Selling at Realty Income

In other news, Director Mary Hogan Preusse sold 1,712 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 26,579 shares of the company’s stock, valued at approximately $1,663,313.82. This trade represents a 6.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.10% of the company’s stock.

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.