Chevy Chase Trust Holdings LLC Lowers Holdings in Realty Income Co. (NYSE:O)

Chevy Chase Trust Holdings LLC lowered its position in shares of Realty Income Co. (NYSE:O) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 468,633 shares of the real estate investment trust’s stock after selling 6,855 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Realty Income worth $29,721,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in O. Parnassus Investments LLC raised its stake in 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 worth $1,550,506,000 after buying an additional 1,676,293 shares in the last quarter. Legal & General Group Plc increased 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 valued at $647,492,000 after acquiring an additional 531,008 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Realty Income by 3.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,682,105 shares of the real estate investment trust’s stock worth $617,043,000 after acquiring an additional 413,865 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Realty Income by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,729,229 shares of the real estate investment trust’s stock worth $617,028,000 after acquiring an additional 463,286 shares in the last quarter. Finally, APG Asset Management US Inc. lifted its stake in shares of 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 purchasing an additional 265,000 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Realty Income Trading Down 1.6 %

Shares of O opened at $56.68 on Tuesday. The firm’s fifty day moving average is $60.36 and its two-hundred day moving average is $58.22. The stock has a market cap of $49.61 billion, a PE ratio of 53.98, a price-to-earnings-growth ratio of 4.07 and a beta of 0.98. 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 52-week low of $50.65 and a 52-week high of $64.88.

Realty Income (NYSE:O) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior year, the company posted $1.02 EPS. The firm’s revenue was up 28.1% on a year-over-year basis. Research analysts forecast that Realty Income Co. will post 4.19 earnings per share for the current fiscal year.

Realty Income Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be given a dividend of $0.2635 per share. This is an increase 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 yield of 5.58%. Realty Income’s dividend payout ratio (DPR) is presently 300.96%.

Analysts Set New Price Targets

O has been the topic of several analyst reports. Royal Bank of Canada cut their target price on 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 cut their price objective on shares of Realty Income from $70.50 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Scotiabank boosted their price objective on shares of Realty Income from $61.00 to $64.00 and gave the stock a “sector perform” rating in a research note on Tuesday, September 17th. UBS Group lowered 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 note on Thursday, November 14th. Finally, 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. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $63.85.

Insiders Place Their Bets

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 in the company, valued at $1,663,313.82. This trade represents a 6.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.10% of the stock is currently owned by corporate insiders.

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.