Realty Income Co. (NYSE:O) is Parnassus Investments LLC's 5th Largest Position

Parnassus Investments LLC lifted its stake in shares of Realty Income Co. (NYSE:O - Free Report) by 7.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,448,225 shares of the real estate investment trust's stock after purchasing an additional 1,676,293 shares during the period. Realty Income accounts for about 3.3% of Parnassus Investments LLC's portfolio, making the stock its 5th largest holding. Parnassus Investments LLC owned approximately 2.81% of Realty Income worth $1,550,506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. ZWJ Investment Counsel Inc. raised its position in Realty Income by 0.6% in the third quarter. ZWJ Investment Counsel Inc. now owns 29,279 shares of the real estate investment trust's stock valued at $1,857,000 after purchasing an additional 164 shares during the period. Whittier Trust Co. raised its position in Realty Income by 4.5% in the third quarter. Whittier Trust Co. now owns 3,871 shares of the real estate investment trust's stock valued at $245,000 after purchasing an additional 166 shares during the period. Greenleaf Trust raised its position in Realty Income by 1.0% in the third quarter. Greenleaf Trust now owns 16,911 shares of the real estate investment trust's stock valued at $1,072,000 after purchasing an additional 170 shares during the period. Grove Bank & Trust raised its position in Realty Income by 14.3% in the third quarter. Grove Bank & Trust now owns 1,409 shares of the real estate investment trust's stock valued at $89,000 after purchasing an additional 176 shares during the period. Finally, Buckley Wealth Management LLC raised its position in Realty Income by 1.9% in the third quarter. Buckley Wealth Management LLC now owns 9,450 shares of the real estate investment trust's stock valued at $599,000 after purchasing an additional 176 shares during the period. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Realty Income

In related news, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $60.77, for a total transaction of $303,850.00. Following the completion of the transaction, the director now directly owns 5,257 shares of the company's stock, valued at $319,467.89. This represents a 48.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mary Hogan Preusse sold 1,712 shares of the 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 transaction, the director now directly owns 26,579 shares of the company's stock, valued at $1,663,313.82. This represents a 6.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.10% of the company's stock.

Realty Income Stock Performance

Shares of O stock traded up $0.41 during mid-day trading on Tuesday, hitting $57.18. 3,362,506 shares of the stock were exchanged, compared to its average volume of 5,671,740. The stock's fifty day simple moving average is $61.19 and its two-hundred day simple moving average is $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 Co. has a 12-month low of $50.65 and a 12-month high of $64.88. The stock has a market capitalization of $50.04 billion, a price-to-earnings ratio of 54.24, a P/E/G ratio of 3.98 and a beta of 0.99.

Realty Income (NYSE:O - Get Free Report) 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 during the quarter, compared to analyst estimates of $1.26 billion. Realty Income had a net margin of 17.57% and a return on equity of 2.35%. Realty Income's revenue was up 28.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.02 earnings per share. On average, analysts forecast that Realty Income Co. will post 4.19 EPS for the current year.

Realty Income Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.2635 per share. This represents a $3.16 dividend on an annualized basis and a yield of 5.53%. This is a boost from Realty Income's previous monthly dividend of $0.24. The ex-dividend date is Monday, December 2nd. Realty Income's dividend payout ratio (DPR) is presently 300.96%.

Wall Street Analysts Forecast Growth

O has been the topic of a number of recent research reports. 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. UBS Group cut their price objective on Realty Income from $72.00 to $71.00 and set a "buy" rating on the stock in a research report on Thursday, November 14th. Robert W. Baird upped 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. Wedbush initiated coverage on Realty Income in a research report on Monday, August 19th. They set a "neutral" rating and a $64.00 price objective on the stock. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating and set a $65.00 price objective (up previously from $62.00) on shares of Realty Income in a research report on Tuesday, October 1st. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price 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.