PNC Financial Services Group Inc. Grows Position in Realty Income Co. (NYSE:O)

PNC Financial Services Group Inc. lifted its stake in shares of Realty Income Co. (NYSE:O - Free Report) by 25.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 137,716 shares of the real estate investment trust's stock after purchasing an additional 27,890 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Realty Income were worth $8,734,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of O. Raymond James & Associates raised its stake in shares of Realty Income by 92.4% during the third quarter. Raymond James & Associates now owns 6,479,542 shares of the real estate investment trust's stock worth $410,932,000 after purchasing an additional 3,112,560 shares during the last quarter. Parnassus Investments LLC raised its position 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 worth $1,550,506,000 after acquiring an additional 1,676,293 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Realty Income by 63.2% in the second quarter. Canada Pension Plan Investment Board now owns 2,610,483 shares of the real estate investment trust's stock worth $137,886,000 after acquiring an additional 1,010,876 shares in the last quarter. Cetera Investment Advisers raised its position in Realty Income by 410.7% in the first quarter. Cetera Investment Advisers now owns 951,335 shares of the real estate investment trust's stock worth $51,467,000 after acquiring an additional 765,048 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in Realty Income by 54.6% in the second quarter. Federated Hermes Inc. now owns 2,140,696 shares of the real estate investment trust's stock worth $113,072,000 after acquiring an additional 755,987 shares in the last quarter. Hedge funds and other institutional investors own 70.81% of the company's stock.

Realty Income Stock Up 0.1 %

O opened at $57.45 on Friday. 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 firm has a market cap of $50.28 billion, a P/E ratio of 54.71, a PEG ratio of 4.04 and a beta of 0.99. Realty Income Co. has a 52 week low of $50.65 and a 52 week high of $64.88. The business's fifty day simple moving average is $60.76 and its 200 day simple moving average is $58.07.

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 EPS for the quarter, missing analysts' consensus estimates of $1.05 by ($0.75). The company had revenue of $1.33 billion for 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%. The firm's revenue was up 28.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.02 EPS. As a group, equities research analysts anticipate that Realty Income Co. will post 4.19 EPS for the current fiscal year.

Realty Income Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a dividend of $0.2635 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 5.50%. This is a positive change from Realty Income's previous monthly dividend of $0.24. Realty Income's dividend payout ratio (DPR) is presently 300.96%.

Insider Activity at Realty Income

In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the firm's stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total value of $107,136.96. Following the sale, the director now directly owns 26,579 shares of the company's stock, valued at approximately $1,663,313.82. This trade represents a 6.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Wells Fargo & Company reiterated an "equal weight" rating and issued a $65.00 price objective (up previously from $62.00) on shares of Realty Income in a research report on Tuesday, October 1st. Wedbush assumed coverage on Realty Income in a research report on Monday, August 19th. They issued a "neutral" rating and a $64.00 price objective for the company. Mizuho cut Realty Income from an "outperform" rating to a "neutral" rating and cut their price objective for the stock from $64.00 to $60.00 in a research report on Thursday, November 14th. UBS Group cut their price objective on Realty Income from $72.00 to $71.00 and set a "buy" rating for the company in a research report on Thursday, November 14th. Finally, Morgan Stanley reiterated an "equal weight" rating and issued a $62.00 price objective on shares of Realty Income in a research report on Tuesday, August 6th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $63.85.

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.