Principal Financial Group Inc. Buys 74,185 Shares of Realty Income Co. (NYSE:O)

Principal Financial Group Inc. raised its stake in Realty Income Co. (NYSE:O - Free Report) by 3.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,190,739 shares of the real estate investment trust's stock after purchasing an additional 74,185 shares during the quarter. Principal Financial Group Inc. owned about 0.25% of Realty Income worth $138,937,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Lantz Financial LLC purchased a new position in shares of Realty Income in the 2nd quarter valued at $234,000. Premier Path Wealth Partners LLC grew its stake in shares of Realty Income by 16.5% during the second quarter. Premier Path Wealth Partners LLC now owns 4,784 shares of the real estate investment trust's stock valued at $253,000 after acquiring an additional 677 shares in the last quarter. Everhart Financial Group Inc. acquired a new stake in shares of Realty Income during the second quarter valued at about $247,000. Raymond James Trust N.A. increased its position in shares of Realty Income by 43.2% during the second quarter. Raymond James Trust N.A. now owns 42,954 shares of the real estate investment trust's stock worth $2,269,000 after acquiring an additional 12,968 shares during the last quarter. Finally, First Heartland Consultants Inc. lifted its stake in shares of Realty Income by 1.7% in the second quarter. First Heartland Consultants Inc. now owns 34,688 shares of the real estate investment trust's stock worth $1,832,000 after acquiring an additional 587 shares in the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

Realty Income Stock Up 2.0 %

Realty Income stock opened at $52.79 on Friday. The company has a market capitalization of $46.20 billion, a P/E ratio of 50.28, a P/E/G ratio of 2.05 and a beta of 0.98. The firm's fifty day simple moving average is $58.19 and its 200-day simple moving average is $58.34. Realty Income Co. has a 1-year low of $50.65 and a 1-year high of $64.88. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.68.

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

Realty Income Increases Dividend

The company also recently announced a jan 25 dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a $0.264 dividend. This is a boost from Realty Income's previous jan 25 dividend of $0.26. This represents a yield of 5.7%. The ex-dividend date is Thursday, January 2nd. Realty Income's dividend payout ratio (DPR) is 300.95%.

Analyst Upgrades and Downgrades

A number of research firms have commented on O. UBS Group reduced their price objective on shares of Realty Income from $72.00 to $71.00 and set a "buy" rating on the stock in a research note on Thursday, November 14th. Scotiabank increased their target price on Realty Income from $61.00 to $64.00 and gave the stock a "sector perform" rating in a report on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft started coverage on shares of Realty Income in a report on Wednesday, December 11th. They issued a "hold" rating and a $62.00 price objective for the company. Wells Fargo & Company restated an "equal weight" rating and issued a $65.00 price target (up from $62.00) on shares of Realty Income in a research report on Tuesday, October 1st. Finally, Mizuho lowered shares of Realty Income from an "outperform" rating to a "neutral" rating and dropped their price objective for the stock from $64.00 to $60.00 in a research note on Thursday, November 14th. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $63.23.

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.