Realty Income Co. (NYSE:O) Position Trimmed by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. trimmed its holdings in shares of Realty Income Co. (NYSE:O) by 37.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,453 shares of the real estate investment trust’s stock after selling 7,574 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Realty Income were worth $790,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. ZWJ Investment Counsel Inc. boosted its position 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 purchasing an additional 164 shares during the period. Whittier Trust Co. grew its position in shares of Realty Income by 4.5% during the third quarter. Whittier Trust Co. now owns 3,871 shares of the real estate investment trust’s stock worth $245,000 after acquiring an additional 166 shares during the last quarter. Greenleaf Trust increased its holdings in shares of Realty Income by 1.0% in the 3rd quarter. Greenleaf Trust now owns 16,911 shares of the real estate investment trust’s stock worth $1,072,000 after acquiring an additional 170 shares during the period. Grove Bank & Trust grew its position in Realty Income by 14.3% in the 3rd quarter. Grove Bank & Trust now owns 1,409 shares of the real estate investment trust’s stock worth $89,000 after purchasing an additional 176 shares during the last quarter. Finally, Buckley Wealth Management LLC increased its stake in shares of Realty Income by 1.9% in the third quarter. Buckley Wealth Management LLC now owns 9,450 shares of the real estate investment trust’s stock valued at $599,000 after purchasing an additional 176 shares during the period. 70.81% of the stock is currently owned by institutional investors.

Realty Income Stock Performance

O opened at $56.53 on Friday. The business has a fifty day simple moving average of $61.43 and a 200-day simple moving average of $57.96. The firm has a market cap of $49.48 billion, a PE ratio of 53.84, a P/E/G ratio of 4.00 and a beta of 0.99. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.68. Realty Income Co. has a fifty-two week low of $50.65 and a fifty-two week high of $64.88.

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 for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.75). Realty Income had a return on equity of 2.35% and a net margin of 17.57%. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior year, the business posted $1.02 EPS. The company’s revenue for the quarter was up 28.1% compared to the same quarter last year. As a group, equities analysts predict that Realty Income Co. will post 4.19 EPS for the current fiscal year.

Realty Income Increases Dividend

The company 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 represents a $3.16 annualized dividend and a dividend yield of 5.59%. The ex-dividend date 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%.

Insider Buying and Selling

In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the firm’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 completion of the sale, the director now directly owns 26,579 shares in the company, valued at approximately $1,663,313.82. This trade represents a 6.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 value of $303,850.00. Following the completion of the transaction, the director now owns 5,257 shares in the company, valued at $319,467.89. This represents a 48.75 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on O. Mizuho cut Realty Income from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $64.00 to $60.00 in a research report on Thursday. Wedbush began coverage on Realty Income in a report on Monday, August 19th. They set a “neutral” rating and a $64.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of Realty Income from $60.00 to $67.00 and gave the stock a “neutral” rating in a report on Tuesday, September 3rd. UBS Group lowered their target price on shares of Realty Income from $72.00 to $71.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Royal Bank of Canada reduced their price target on shares of Realty Income from $67.00 to $63.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Realty Income currently has an average rating of “Hold” and an average price target of $63.85.

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.