Franklin Resources Inc. Boosts Holdings in Realty Income Co. (NYSE:O)

Franklin Resources Inc. increased its stake in shares of Realty Income Co. (NYSE:O - Free Report) by 4.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 559,263 shares of the real estate investment trust's stock after buying an additional 22,614 shares during the quarter. Franklin Resources Inc. owned about 0.06% of Realty Income worth $34,736,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Parnassus Investments LLC increased 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 valued at $1,550,506,000 after acquiring an additional 1,676,293 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Realty Income by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 22,815,454 shares of the real estate investment trust's stock worth $1,445,036,000 after buying an additional 242,786 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Realty Income by 4.5% during 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 buying an additional 531,008 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in 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 valued at $617,043,000 after buying an additional 413,865 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Realty Income by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,729,229 shares of the real estate investment trust's stock valued at $617,028,000 after acquiring an additional 463,286 shares during the last quarter. 70.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

O has been the topic of a number of research analyst reports. Barclays started coverage on shares of Realty Income in a research report on Tuesday. They issued an "equal weight" rating and a $59.00 target price on the stock. JPMorgan Chase & Co. upped their target price on Realty Income from $60.00 to $67.00 and gave the stock a "neutral" rating in a report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on Realty Income in a research note on Wednesday, December 11th. They set a "hold" rating and a $62.00 price target on the stock. Scotiabank raised their price objective on shares of Realty Income from $61.00 to $64.00 and gave the company a "sector perform" rating in a report on Tuesday, September 17th. Finally, Stifel Nicolaus reduced their target price 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. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $63.23.

Realty Income Stock Performance

O stock traded down $1.05 during midday trading on Thursday, hitting $51.76. The company's stock had a trading volume of 7,937,821 shares, compared to its average volume of 5,582,327. The stock has a market cap of $45.30 billion, a price-to-earnings ratio of 49.30, a PEG ratio of 2.05 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. The stock's 50-day moving average price is $58.56 and its 200 day moving average price is $58.39. Realty Income Co. has a 1 year low of $50.65 and a 1 year high of $64.88.

Realty Income (NYSE:O - Get Free Report) last released its earnings results on Monday, November 4th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts' consensus estimates of $1.05 by ($0.75). Realty Income had a net margin of 17.57% and a return on equity of 2.35%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the company earned $1.02 earnings per share. The firm's revenue was up 28.1% on a year-over-year basis. On average, equities analysts forecast that Realty Income Co. will post 4.2 EPS for the current year.

Realty Income Increases Dividend

The firm also recently disclosed a jan 25 dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a $0.264 dividend. This represents a yield of 5.7%. This is a positive change from Realty Income's previous jan 25 dividend of $0.26. The ex-dividend date of this dividend is Thursday, January 2nd. Realty Income's payout ratio is currently 300.96%.

About Realty Income

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.