Realty Income Corporation $O Shares Bought by Adelante Capital Management LLC

Key Points

• Adelante Capital Management LLC significantly increased its stake in Realty Income Corporation by 1,380.2%, acquiring 802,526 additional shares to now hold a total of 860,671 shares, representing about 3.5% of its portfolio.
• Multiple institutional investors, including Nuveen LLC and Vanguard Group Inc., have also increased their holdings in Realty Income, with institutional ownership now at 70.81%.
• Realty Income recently raised its monthly dividend to $0.269 per share, reflecting a new annualized yield of 5.5% and marking an increase from the previous monthly dividend.

Adelante Capital Management LLC grew its holdings in Realty Income Corporation (NYSE:O - Free Report) by 1,380.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 860,671 shares of the real estate investment trust's stock after acquiring an additional 802,526 shares during the quarter. Realty Income accounts for about 3.5% of Adelante Capital Management LLC's investment portfolio, making the stock its 9th largest holding. Adelante Capital Management LLC owned about 0.10% of Realty Income worth $49,928,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC raised its stake in shares of Realty Income by 1.2% in the 1st quarter. N.E.W. Advisory Services LLC now owns 15,503 shares of the real estate investment trust's stock valued at $899,000 after purchasing an additional 186 shares during the period. Associated Banc Corp lifted its position in Realty Income by 1.9% during the 1st quarter. Associated Banc Corp now owns 10,252 shares of the real estate investment trust's stock worth $595,000 after buying an additional 192 shares in the last quarter. Activest Wealth Management boosted its position in Realty Income by 28.5% during the first quarter. Activest Wealth Management now owns 1,005 shares of the real estate investment trust's stock valued at $58,000 after purchasing an additional 223 shares during the last quarter. Kentucky Trust Co grew its stake in shares of Realty Income by 2.6% in the first quarter. Kentucky Trust Co now owns 9,035 shares of the real estate investment trust's stock valued at $524,000 after buying an additional 225 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its stake in shares of Realty Income by 1.9% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 12,640 shares of the real estate investment trust's stock worth $675,000 after purchasing an additional 241 shares during the last quarter. 70.81% of the stock is owned by institutional investors and hedge funds.

Realty Income Price Performance

Shares of NYSE:O traded down $0.04 during trading on Wednesday, reaching $59.46. 4,669,848 shares of the company traded hands, compared to its average volume of 5,068,575. The firm has a market capitalization of $54.36 billion, a PE ratio of 57.72, a PEG ratio of 4.55 and a beta of 0.77. Realty Income Corporation has a 52 week low of $50.71 and a 52 week high of $64.88. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.72. The company's 50 day moving average is $57.79 and its two-hundred day moving average is $57.01.

Realty Income (NYSE:O - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $1.05 EPS for the quarter, missing analysts' consensus estimates of $1.06 by ($0.01). The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.33 billion. Realty Income had a net margin of 16.77% and a return on equity of 2.34%. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the firm earned $1.07 EPS. As a group, sell-side analysts predict that Realty Income Corporation will post 4.19 earnings per share for the current year.

Realty Income Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given a dividend of $0.2695 per share. The ex-dividend date is Wednesday, October 1st. This represents a c) annualized dividend and a dividend yield of 5.4%. This is a positive change from Realty Income's previous monthly dividend of $0.27. Realty Income's dividend payout ratio (DPR) is 313.59%.

Wall Street Analysts Forecast Growth

O has been the topic of a number of research analyst reports. Scotiabank increased their price target on Realty Income from $58.00 to $60.00 and gave the company a "sector perform" rating in a research note on Thursday, August 28th. UBS Group raised their target price on shares of Realty Income from $62.00 to $66.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. Wolfe Research cut Realty Income from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. Finally, Barclays boosted their target price on shares of Realty Income from $58.00 to $59.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 20th. Three analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, Realty Income presently has an average rating of "Hold" and an average target price of $62.00.

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.