WCM Investment Management LLC Buys 14,798 Shares of Realty Income Co. (NYSE:O)

WCM Investment Management LLC grew its holdings in shares of Realty Income Co. (NYSE:O - Free Report) by 266.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,361 shares of the real estate investment trust's stock after buying an additional 14,798 shares during the period. WCM Investment Management LLC's holdings in Realty Income were worth $1,277,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Code Waechter LLC bought a new stake in Realty Income during the third quarter worth approximately $1,308,000. Principal Financial Group Inc. increased its holdings in shares of Realty Income by 3.5% in the third quarter. Principal Financial Group Inc. now owns 2,190,739 shares of the real estate investment trust's stock valued at $138,937,000 after buying an additional 74,185 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Realty Income by 17.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,131,375 shares of the real estate investment trust's stock valued at $61,208,000 after buying an additional 171,166 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Realty Income by 92.4% in the third quarter. Raymond James & Associates now owns 6,479,542 shares of the real estate investment trust's stock valued at $410,932,000 after buying an additional 3,112,560 shares in the last quarter. Finally, abrdn plc increased its holdings in shares of Realty Income by 15.4% in the third quarter. abrdn plc now owns 1,282,800 shares of the real estate investment trust's stock valued at $81,079,000 after buying an additional 171,236 shares in the last quarter. Institutional investors own 70.81% of the company's stock.

Realty Income Stock Down 0.6 %

NYSE:O traded down $0.34 during trading hours on Wednesday, reaching $56.68. The company's stock had a trading volume of 1,820,565 shares, compared to its average volume of 5,671,950. The company has a market cap of $49.61 billion, a price-to-earnings ratio of 54.51, a price-to-earnings-growth ratio of 4.01 and a beta of 0.99. Realty Income Co. has a one year low of $50.65 and a one year high of $64.88. The business's 50-day moving average is $61.67 and its 200-day moving average is $57.98. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.40.

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). 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 firm's revenue was up 28.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.02 EPS. Equities research analysts predict that Realty Income Co. will post 4.19 EPS for the current year.

Realty Income Increases Dividend

The company also recently announced 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 is a positive change from Realty Income's previous monthly dividend of $0.24. The ex-dividend date is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 5.58%. Realty Income's payout ratio is currently 300.96%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. UBS Group lifted their price objective on shares of Realty Income from $70.00 to $72.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price objective on shares of Realty Income from $60.00 to $67.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 3rd. Royal Bank of Canada lowered their price objective on shares of Realty Income from $67.00 to $63.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 6th. Stifel Nicolaus lowered their price objective on shares of Realty Income from $70.50 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, November 5th. Finally, Wedbush assumed coverage on shares of Realty Income in a research report on Monday, August 19th. They set a "neutral" rating and a $64.00 price objective on the stock. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $63.85.

Insiders Place Their Bets

In other news, Director Mary Hogan Preusse sold 1,712 shares of the company's stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total transaction of $107,136.96. Following the completion of the transaction, the director now owns 26,579 shares of the company's stock, valued at approximately $1,663,313.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director A. Larry Chapman sold 5,000 shares of the company's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $60.77, for a total value of $303,850.00. Following the sale, the director now owns 5,257 shares of the company's stock, valued at $319,467.89. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mary Hogan Preusse sold 1,712 shares of the company's stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total transaction of $107,136.96. Following the completion of the sale, the director now directly owns 26,579 shares in the company, valued at approximately $1,663,313.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.10% of the company's stock.

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.