Royal Bank of Canada Purchases 193,013 Shares of Realty Income Co. (NYSE:O)

Royal Bank of Canada increased its stake in shares of Realty Income Co. (NYSE:O - Free Report) by 6.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,174,507 shares of the real estate investment trust's stock after buying an additional 193,013 shares during the period. Royal Bank of Canada owned 0.36% of Realty Income worth $169,551,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Realty Income by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 139,236,506 shares of the real estate investment trust's stock valued at $7,436,622,000 after acquiring an additional 555,908 shares during the period. Geode Capital Management LLC lifted its stake in Realty Income by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 23,473,694 shares of the real estate investment trust's stock valued at $1,253,584,000 after purchasing an additional 658,240 shares during the last quarter. Northern Trust Corp grew its position in Realty Income by 41.2% during the 4th quarter. Northern Trust Corp now owns 13,139,719 shares of the real estate investment trust's stock worth $701,792,000 after acquiring an additional 3,834,403 shares during the last quarter. Norges Bank acquired a new position in shares of Realty Income in the fourth quarter valued at approximately $624,666,000. Finally, Raymond James Financial Inc. bought a new position in shares of Realty Income during the fourth quarter valued at $553,572,000. Institutional investors and hedge funds own 70.81% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on O. Stifel Nicolaus raised their price objective on Realty Income from $65.50 to $68.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. UBS Group lowered their target price on shares of Realty Income from $64.00 to $62.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Scotiabank upped their price target on shares of Realty Income from $57.00 to $58.00 and gave the company a "sector perform" rating in a research report on Monday, May 12th. JPMorgan Chase & Co. lowered their price objective on Realty Income from $64.00 to $61.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Finally, Barclays reaffirmed an "overweight" rating on shares of Realty Income in a research note on Tuesday, April 22nd. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $61.15.

Realty Income Stock Performance

Shares of O stock traded down $0.92 on Wednesday, hitting $55.29. 4,526,438 shares of the stock were exchanged, compared to its average volume of 5,225,961. The firm's 50 day moving average is $56.31 and its two-hundred day moving average is $55.69. Realty Income Co. has a one year low of $50.71 and a one year high of $64.88. The firm has a market capitalization of $49.93 billion, a PE ratio of 52.65, a P/E/G ratio of 2.10 and a beta of 0.78. 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 results on Monday, May 5th. The real estate investment trust reported $1.06 EPS for the quarter, meeting analysts' consensus estimates of $1.06. Realty Income had a net margin of 17.57% and a return on equity of 2.35%. The company had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same period in the prior year, the company posted $1.03 EPS. Realty Income's revenue was up 9.5% compared to the same quarter last year. Sell-side analysts expect that Realty Income Co. will post 4.19 earnings per share for the current fiscal year.

Realty Income Dividend Announcement

The business also recently announced a jun 25 dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be paid a $0.2685 dividend. The ex-dividend date is Monday, June 2nd. This represents a yield of 5.8%. Realty Income's dividend payout ratio is currently 292.73%.

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.