Realty Income Corporation $O Shares Bought by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments Co. Ltd. has significantly increased its stake in Realty Income Corporation by 78.7%, now owning 261,315 shares valued at approximately $15 million.
• Realty Income Corporation recently announced a monthly dividend increase to $0.2695 per share, reflecting a yield of 5.4% and a payout ratio of 313.59%.
• According to analysts, Realty Income has a consensus rating of "Hold" with an average price target of $62.25, following recent price upgrades from multiple research firms.

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Realty Income Corporation (NYSE:O - Free Report) by 78.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 261,315 shares of the real estate investment trust's stock after acquiring an additional 115,100 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Realty Income were worth $15,054,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake 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 valued at $8,267,084,000 after purchasing an additional 3,274,853 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Realty Income by 3.9% in the first quarter. Dimensional Fund Advisors LP now owns 12,108,561 shares of the real estate investment trust's stock worth $702,381,000 after acquiring an additional 451,307 shares during the last quarter. Invesco Ltd. increased its position in Realty Income by 0.4% during the first quarter. Invesco Ltd. now owns 11,421,973 shares of the real estate investment trust's stock worth $662,589,000 after buying an additional 48,024 shares during the last quarter. Raymond James Financial Inc. increased its position in Realty Income by 9.6% during the first 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 last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Realty Income by 1.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,112,801 shares of the real estate investment trust's stock worth $586,644,000 after buying an additional 123,501 shares during the last quarter. 70.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Evercore ISI assumed coverage on Realty Income in a research report on Wednesday. They issued an "in-line" rating and a $62.00 price target on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of Realty Income in a research note on Saturday, September 27th. Scotiabank raised their price target on shares of Realty Income from $58.00 to $60.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 28th. UBS Group raised their price target 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. Finally, Mizuho raised their price target on shares of Realty Income from $60.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, September 11th. Three research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat, Realty Income presently has a consensus rating of "Hold" and an average price target of $62.25.

Insider Buying and Selling

In other Realty Income news, Director Mary Hogan Preusse sold 11,000 shares of Realty Income stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $60.43, for a total transaction of $664,730.00. Following the completion of the sale, the director owned 19,211 shares of the company's stock, valued at approximately $1,160,920.73. The trade was a 36.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.10% of the company's stock.

Realty Income Stock Performance

Shares of Realty Income stock opened at $60.41 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.85 and a quick ratio of 1.85. The firm has a market cap of $55.24 billion, a P/E ratio of 58.65, a P/E/G ratio of 4.62 and a beta of 0.78. The firm has a 50 day simple moving average of $58.73 and a 200 day simple moving average of $57.37. Realty Income Corporation has a fifty-two week low of $50.71 and a fifty-two week high of $64.88.

Realty Income (NYSE:O - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $1.05 earnings per share 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 company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the prior year, the business earned $1.07 EPS. The business's revenue for the quarter was up 5.3% on a year-over-year basis. Sell-side analysts predict 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 issued a dividend of $0.2695 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a c) dividend on an annualized basis and a yield of 5.4%. This is a boost from Realty Income's previous monthly dividend of $0.27. Realty Income's dividend payout ratio (DPR) is presently 313.59%.

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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