Commerce Bank Sells 1,841 Shares of Realty Income Co. (NYSE:O)

Commerce Bank lessened its stake in shares of Realty Income Co. (NYSE:O) by 6.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,224 shares of the real estate investment trust’s stock after selling 1,841 shares during the quarter. Commerce Bank’s holdings in Realty Income were worth $1,600,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Raymond James & Associates lifted its position in Realty Income by 92.4% during 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 acquiring an additional 3,112,560 shares during the last quarter. Parnassus Investments LLC lifted its position in shares of Realty Income by 7.4% during the 3rd quarter. Parnassus Investments LLC now owns 24,448,225 shares of the real estate investment trust’s stock worth $1,550,506,000 after purchasing an additional 1,676,293 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Realty Income by 63.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,610,483 shares of the real estate investment trust’s stock valued at $137,886,000 after purchasing an additional 1,010,876 shares during the period. Cetera Investment Advisers grew its holdings in Realty Income by 410.7% in the 1st quarter. Cetera Investment Advisers now owns 951,335 shares of the real estate investment trust’s stock valued at $51,467,000 after buying an additional 765,048 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in Realty Income by 54.6% in the 2nd quarter. Federated Hermes Inc. now owns 2,140,696 shares of the real estate investment trust’s stock worth $113,072,000 after buying an additional 755,987 shares during the period. Institutional investors and hedge funds own 70.81% of the company’s stock.

Insider Activity

In other news, Director Mary Hogan Preusse sold 1,712 shares of the company’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 transaction, the director now directly owns 26,579 shares in the company, valued at approximately $1,663,313.82. This represents a 6.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.10% of the stock is currently owned by corporate insiders.

Realty Income Stock Up 0.1 %

Shares of NYSE:O opened at $57.45 on Friday. The company’s fifty day moving average is $60.76 and its 200-day moving average is $58.09. 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 Co. has a 52 week low of $50.65 and a 52 week high of $64.88. The company has a market capitalization of $50.28 billion, a PE ratio of 54.71, a P/E/G ratio of 4.04 and a beta of 0.99.

Realty Income (NYSE:O) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $1.26 billion. Realty Income had a return on equity of 2.35% and a net margin of 17.57%. The business’s quarterly revenue was up 28.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.02 EPS. Equities research analysts predict that Realty Income Co. will post 4.19 earnings per share for the current fiscal year.

Realty Income Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a $0.2635 dividend. 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 5.50%. This is a positive change from Realty Income’s previous monthly dividend of $0.24. Realty Income’s payout ratio is currently 300.96%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on O shares. Wells Fargo & Company restated an “equal weight” rating and issued a $65.00 price objective (up previously from $62.00) on shares of Realty Income in a research note on Tuesday, October 1st. Wedbush began coverage on shares of Realty Income in a report on Monday, August 19th. They set a “neutral” rating and a $64.00 price objective on the stock. Morgan Stanley reiterated an “equal weight” rating and issued a $62.00 target price on shares of Realty Income in a research note on Tuesday, August 6th. Scotiabank boosted their price target on Realty Income from $61.00 to $64.00 and gave the company a “sector perform” rating in a research note on Tuesday, September 17th. Finally, Royal Bank of Canada reduced their price objective on Realty Income from $67.00 to $63.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $63.85.

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.