Coastline Trust Co Purchases Shares of 2,760 Realty Income Co. (NYSE:O)

Coastline Trust Co acquired a new position in Realty Income Co. (NYSE:O) during the third quarter, Holdings Channel reports. The firm acquired 2,760 shares of the real estate investment trust’s stock, valued at approximately $175,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Legal & General Group Plc grew its holdings in shares of Realty Income by 4.5% in the 2nd quarter. Legal & General Group Plc now owns 12,258,468 shares of the real estate investment trust’s stock worth $647,492,000 after acquiring an additional 531,008 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Realty Income by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 11,682,105 shares of the real estate investment trust’s stock worth $617,043,000 after buying an additional 413,865 shares during the period. APG Asset Management US Inc. lifted its position in shares of Realty Income by 3.1% in the 2nd quarter. APG Asset Management US Inc. now owns 8,680,325 shares of the real estate investment trust’s stock valued at $454,502,000 after acquiring an additional 265,000 shares in the last quarter. Raymond James & Associates boosted its stake in Realty Income by 92.4% in the 3rd quarter. Raymond James & Associates now owns 6,479,542 shares of the real estate investment trust’s stock worth $410,932,000 after purchasing an additional 3,112,560 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Realty Income by 1.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,134,407 shares of the real estate investment trust’s stock worth $324,019,000 after purchasing an additional 116,789 shares in the last quarter. Institutional investors own 70.81% of the company’s stock.

Insider Activity

In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was 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 of the company’s stock, valued at $319,467.89. This represents a 48.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mary Hogan Preusse sold 1,712 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total value of $107,136.96. Following the completion of the sale, the director now owns 26,579 shares of the company’s stock, valued at $1,663,313.82. This represents a 6.05 % decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on O. Mizuho downgraded Realty Income from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $64.00 to $60.00 in a report on Thursday. UBS Group decreased their price target on shares of Realty Income from $72.00 to $71.00 and set a “buy” rating for the company in a report on Thursday. Royal Bank of Canada dropped 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 note on Wednesday, November 6th. Stifel Nicolaus lowered their price target on shares of Realty Income from $70.50 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $62.00 price objective on shares of Realty Income in a report on Tuesday, August 6th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Realty Income presently has an average rating of “Hold” and a consensus target price of $63.85.

Realty Income Price Performance

NYSE O opened at $56.54 on Friday. The company has a market cap of $49.48 billion, a P/E ratio of 53.85, a P/E/G ratio of 3.98 and a beta of 0.99. Realty Income Co. has a 1 year low of $50.65 and a 1 year high of $64.88. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.68. The company has a fifty day simple moving average of $61.31 and a 200 day simple moving average of $58.01.

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 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 business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the business posted $1.02 earnings per share. The company’s revenue for the quarter was up 28.1% compared to the same quarter last year. On average, sell-side 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. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.2635 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Realty Income’s previous monthly dividend of $0.24. This represents a $3.16 dividend on an annualized basis and a dividend yield of 5.59%. Realty Income’s 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.