PNC Financial Services Group Inc. Increases Stake in Realty Income Co. (NYSE:O)

PNC Financial Services Group Inc. increased its position in Realty Income Co. (NYSE:O) by 25.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 89,018 shares of the real estate investment trust’s stock after acquiring an additional 17,806 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Realty Income were worth $5,111,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in O. American National Bank purchased a new position in Realty Income during the 4th quarter valued at about $25,000. Vima LLC purchased a new position in Realty Income during the 4th quarter valued at about $25,000. Baystate Wealth Management LLC grew its holdings in Realty Income by 62.7% during the 4th quarter. Baystate Wealth Management LLC now owns 493 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 190 shares in the last quarter. CVA Family Office LLC purchased a new position in Realty Income during the 4th quarter valued at about $29,000. Finally, Operose Advisors LLC purchased a new position in Realty Income during the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Mizuho lifted their target price on Realty Income from $56.00 to $59.00 and gave the company a “buy” rating in a report on Friday, May 10th. Scotiabank boosted their price objective on Realty Income from $54.00 to $56.00 and gave the stock a “sector perform” rating in a report on Thursday, May 16th. Stifel Nicolaus cut their price objective on Realty Income from $67.75 to $65.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. KeyCorp initiated coverage on Realty Income in a report on Wednesday, June 12th. They set a “sector weight” rating for the company. Finally, UBS Group cut their price objective on Realty Income from $67.00 to $61.00 and set a “buy” rating for the company in a report on Friday, May 31st. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Realty Income currently has an average rating of “Hold” and a consensus price target of $61.35.

Realty Income Price Performance

O opened at $53.10 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.83 and a current ratio of 1.83. Realty Income Co. has a 52-week low of $45.03 and a 52-week high of $64.18. The stock has a market capitalization of $46.24 billion, a PE ratio of 49.17, a price-to-earnings-growth ratio of 4.62 and a beta of 0.94. The stock’s 50 day moving average price is $53.46 and its 200-day moving average price is $54.21.

Realty Income (NYSE:O) last issued its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.87). The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Realty Income had a return on equity of 3.26% and a net margin of 17.74%. Realty Income’s revenue for the quarter was up 33.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.98 earnings per share. On average, equities research analysts predict that Realty Income Co. will post 4.2 EPS for the current year.

Realty Income Increases Dividend

The company also recently declared a jul 24 dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be paid a $0.263 dividend. This represents a yield of 6%. This is a boost from Realty Income’s previous jul 24 dividend of $0.26. The ex-dividend date is Monday, July 1st. Realty Income’s dividend payout ratio is presently 291.67%.

Insider Buying and Selling

In other news, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $54.23, for a total value of $271,150.00. Following the sale, the director now directly owns 6,257 shares of the company’s stock, valued at $339,317.11. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.10% of the stock is owned by insiders.

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.