Realty Income Co. (NYSE:O) Sees Significant Decrease in Short Interest

Realty Income Co. (NYSE:O) saw a large decrease in short interest in November. As of November 15th, there was short interest totalling 15,430,000 shares, a decrease of 16.2% from the October 31st total of 18,410,000 shares. Based on an average trading volume of 4,650,000 shares, the days-to-cover ratio is currently 3.3 days.

Insider Transactions at Realty Income

In related news, Director Mary Hogan Preusse sold 1,712 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total value of $107,136.96. Following the transaction, the director now directly owns 26,579 shares in the company, valued at approximately $1,663,313.82. This trade represents a 6.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Realty Income

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in O. Parnassus Investments LLC boosted its position in shares of Realty Income by 7.4% during the third quarter. Parnassus Investments LLC now owns 24,448,225 shares of the real estate investment trust’s stock worth $1,550,506,000 after purchasing an additional 1,676,293 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Realty Income by 1.1% during the third quarter. Geode Capital Management LLC now owns 22,815,454 shares of the real estate investment trust’s stock worth $1,445,036,000 after acquiring an additional 242,786 shares in the last quarter. Legal & General Group Plc grew its stake in Realty Income by 4.5% in the second quarter. Legal & General Group Plc now owns 12,258,468 shares of the real estate investment trust’s stock valued at $647,492,000 after acquiring an additional 531,008 shares during the period. Dimensional Fund Advisors LP grew its stake in Realty Income by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 11,682,105 shares of the real estate investment trust’s stock valued at $617,043,000 after acquiring an additional 413,865 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Realty Income by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,729,229 shares of the real estate investment trust’s stock worth $617,028,000 after acquiring an additional 463,286 shares in the last quarter. Institutional investors own 70.81% of the company’s stock.

Realty Income Stock Performance

O stock opened at $57.89 on Monday. The company has a 50 day moving average price of $60.36 and a 200 day moving average price of $58.22. Realty Income has a fifty-two week low of $50.65 and a fifty-two week high of $64.88. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market capitalization of $50.67 billion, a PE ratio of 55.13, a price-to-earnings-growth ratio of 4.07 and a beta of 0.99.

Realty Income (NYSE:O) last announced its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.75). Realty Income had a return on equity of 2.35% and a net margin of 17.57%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the business earned $1.02 earnings per share. Realty Income’s revenue for the quarter was up 28.1% compared to the same quarter last year. Analysts forecast that Realty Income will post 4.19 EPS for the current year.

Realty Income Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a dividend of $0.2635 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Realty Income’s previous monthly dividend of $0.24. This represents a $3.16 dividend on an annualized basis and a dividend yield of 5.46%. Realty Income’s payout ratio is 300.96%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on O. JPMorgan Chase & Co. raised their price target on shares of Realty Income from $60.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. Robert W. Baird lifted their target price on Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Royal Bank of Canada lowered their price target on Realty Income from $67.00 to $63.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Scotiabank lifted their price objective on Realty Income from $61.00 to $64.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 17th. Finally, Wedbush initiated coverage on Realty Income in a research report on Monday, August 19th. They set a “neutral” rating and a $64.00 price objective on the stock. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $63.85.

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.