Cullen Investment Group LTD. Has $5.42 Million Stock Holdings in Realty Income Corporation $O

Key Points

• Cullen Investment Group LTD. has increased its holdings in Realty Income Corporation by 18.1%, owning a total of 94,134 shares valued at approximately $5.42 million.
• Realty Income announced a dividend increase, raising its monthly payout from $0.27 to $0.2695, representing an annual yield of 5.4%.
• Analysts have a mixed forecast for Realty Income, with a current average rating of "Hold" and a price target of $62.36.

Cullen Investment Group LTD. raised its holdings in shares of Realty Income Corporation (NYSE:O - Free Report) by 18.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,134 shares of the real estate investment trust's stock after purchasing an additional 14,414 shares during the quarter. Cullen Investment Group LTD.'s holdings in Realty Income were worth $5,423,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in O. Nuveen LLC bought a new position in Realty Income during the 1st quarter worth $207,573,000. Vanguard Group Inc. increased its position in Realty Income by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 142,511,359 shares of the real estate investment trust's stock worth $8,267,084,000 after buying an additional 3,274,853 shares during the period. Centersquare Investment Management LLC increased its position in Realty Income by 27.0% during the 1st quarter. Centersquare Investment Management LLC now owns 4,971,123 shares of the real estate investment trust's stock worth $288,375,000 after buying an additional 1,055,840 shares during the period. Raymond James Financial Inc. increased its position in Realty Income by 9.6% during the 1st quarter. Raymond James Financial Inc. now owns 11,356,883 shares of the real estate investment trust's stock worth $658,813,000 after buying an additional 992,303 shares during the period. Finally, Adelante Capital Management LLC increased its position in Realty Income by 1,380.2% during the 1st quarter. Adelante Capital Management LLC now owns 860,671 shares of the real estate investment trust's stock worth $49,928,000 after buying an additional 802,526 shares during the period. Institutional investors and hedge funds own 70.81% of the company's stock.

Realty Income Stock Performance

Realty Income stock opened at $60.43 on Friday. Realty Income Corporation has a 12-month low of $50.71 and a 12-month 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 business's 50-day moving average price is $57.92 and its two-hundred day moving average price is $57.08. The stock has a market cap of $55.25 billion, a PE ratio of 58.67, a P/E/G ratio of 4.60 and a beta of 0.77.

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

Realty Income Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given a $0.2695 dividend. This is a boost from Realty Income's previous monthly dividend of $0.27. This represents a c) dividend on an annualized basis and a yield of 5.4%. The ex-dividend date is Wednesday, October 1st. Realty Income's dividend payout ratio (DPR) is presently 313.59%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on O shares. Wolfe Research cut Realty Income from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. Scotiabank increased their price objective on Realty Income from $58.00 to $60.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 28th. Mizuho increased their price objective on Realty Income from $60.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday. Barclays raised their price target on Realty Income from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 20th. Finally, UBS Group raised their price target on Realty Income from $62.00 to $66.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. Three research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, Realty Income currently has an average rating of "Hold" and an average price target of $62.36.

About Realty Income

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.

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