Whalen Wealth Management Inc. Acquires New Stake in Realty Income Co. (NYSE:O)

Whalen Wealth Management Inc. bought a new position in Realty Income Co. (NYSE:O) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,196 shares of the real estate investment trust’s stock, valued at approximately $330,000.

Other institutional investors have also recently modified their holdings of the company. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of Realty Income during the third quarter valued at $896,000. Code Waechter LLC bought a new position in shares of Realty Income in the third quarter worth approximately $1,308,000. Principal Financial Group Inc. increased its stake in Realty Income by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 2,190,739 shares of the real estate investment trust’s stock worth $138,937,000 after buying an additional 74,185 shares in the last quarter. Swiss National Bank raised its stake in Realty Income by 1.4% during the 3rd quarter. Swiss National Bank now owns 2,584,694 shares of the real estate investment trust’s stock valued at $163,921,000 after purchasing an additional 35,100 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Realty Income by 17.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,131,375 shares of the real estate investment trust’s stock worth $61,208,000 after buying an additional 171,166 shares in the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Mary Hogan Preusse sold 1,712 shares of Realty Income stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total value of $107,136.96. Following the transaction, the director now owns 26,579 shares of the company’s stock, valued at $1,663,313.82. The trade was a 6.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $60.77, for a total transaction of $303,850.00. Following the sale, the director now directly owns 5,257 shares of the company’s stock, valued at $319,467.89. The trade was a 48.75 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

O has been the subject of a number of research reports. Morgan Stanley reiterated an “equal weight” rating and set a $62.00 target price on shares of Realty Income in a research report on Tuesday, August 6th. Royal Bank of Canada lowered their price objective on shares of Realty Income from $67.00 to $63.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Wedbush began coverage on shares of Realty Income in a report on Monday, August 19th. They issued a “neutral” rating and a $64.00 target price on the stock. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $65.00 price target (up previously from $62.00) on shares of Realty Income in a report on Tuesday, October 1st. Finally, Robert W. Baird boosted their price objective on Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $63.85.

Realty Income Stock Performance

Realty Income stock opened at $56.77 on Tuesday. Realty Income Co. has a fifty-two week low of $50.65 and a fifty-two week high of $64.88. The company has a market capitalization of $49.69 billion, a PE ratio of 54.07, a P/E/G ratio of 3.98 and a beta of 0.99. The company has a 50 day moving average price of $61.19 and a 200-day moving average price of $58.05. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.40 and a current ratio of 1.40.

Realty Income (NYSE:O) last issued its earnings results on Monday, November 4th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.75). The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Realty Income had a return on equity of 2.35% and a net margin of 17.57%. Realty Income’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.02 earnings per share. As a group, equities analysts forecast that Realty Income Co. will post 4.19 earnings per share 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 $0.2635 dividend. The ex-dividend date is Monday, December 2nd. This represents a $3.16 annualized dividend and a dividend yield of 5.57%. This is a positive change from Realty Income’s previous monthly dividend of $0.24. Realty Income’s payout ratio is currently 300.96%.

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.