Brown Brothers Harriman & Co. Grows Stake in Realty Income Co. (NYSE:O)

Brown Brothers Harriman & Co. grew its holdings in Realty Income Co. (NYSE:O) by 199.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 20,837 shares of the real estate investment trust’s stock after acquiring an additional 13,876 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Realty Income were worth $1,101,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in O. Norges Bank purchased a new position in Realty Income during the 4th quarter worth approximately $506,526,000. Dynamic Technology Lab Private Ltd purchased a new position in Realty Income during the 4th quarter worth approximately $1,120,000. PNC Financial Services Group Inc. grew its stake in Realty Income by 25.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 89,018 shares of the real estate investment trust’s stock worth $5,111,000 after buying an additional 17,806 shares during the last quarter. Gladstone Institutional Advisory LLC grew its stake in Realty Income by 1.0% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 59,526 shares of the real estate investment trust’s stock worth $3,418,000 after buying an additional 585 shares during the last quarter. Finally, Coldstream Capital Management Inc. grew its stake in Realty Income by 573.9% during the 4th quarter. Coldstream Capital Management Inc. now owns 79,349 shares of the real estate investment trust’s stock worth $4,556,000 after buying an additional 67,575 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Insider Activity

In other news, Director Mary Hogan Preusse sold 1,712 shares of Realty Income stock in a transaction 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. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the business’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 owns 26,579 shares of the company’s stock, valued at $1,663,313.82. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director A. Larry Chapman sold 5,000 shares of the business’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 sale, the director now directly owns 5,257 shares of the company’s stock, valued at approximately $319,467.89. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Realty Income Stock Performance

Realty Income stock opened at $62.68 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.39 and a current ratio of 1.39. The stock has a fifty day moving average of $59.68 and a two-hundred day moving average of $55.45. The company has a market capitalization of $54.58 billion, a price-to-earnings ratio of 58.04, a PEG ratio of 4.65 and a beta of 0.99. Realty Income Co. has a fifty-two week low of $45.03 and a fifty-two week high of $63.39.

Realty Income (NYSE:O) last released its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.07). The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Realty Income had a return on equity of 3.27% and a net margin of 17.89%. The business’s quarterly revenue was up 31.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.00 EPS. On average, analysts anticipate that Realty Income Co. will post 3.93 EPS for the current fiscal year.

Realty Income Increases Dividend

The firm also recently disclosed a oct 24 dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a $0.2635 dividend. The ex-dividend date is Tuesday, October 1st. This represents a dividend yield of 5%. This is an increase from Realty Income’s previous oct 24 dividend of $0.26. Realty Income’s payout ratio is currently 292.59%.

Wall Street Analyst Weigh In

O has been the topic of a number of research reports. Stifel Nicolaus raised their price target on Realty Income from $67.50 to $70.25 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. KeyCorp assumed coverage on Realty Income in a research note on Wednesday, June 12th. They set a “sector weight” rating on the stock. Robert W. Baird increased their price objective on Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. JPMorgan Chase & Co. increased their price objective on Realty Income from $60.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $62.00 price objective on shares of Realty Income in a research report on Tuesday, August 6th. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $62.38.

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.