Chevy Chase Trust Holdings LLC Lowers Stock Position in Realty Income Co. (NYSE:O)

Chevy Chase Trust Holdings LLC trimmed its stake in Realty Income Co. (NYSE:O) by 1.4% during the third quarter, Holdings Channel.com reports. The fund owned 468,633 shares of the real estate investment trust’s stock after selling 6,855 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Realty Income were worth $29,721,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Pacifica Partners Inc. boosted its holdings in Realty Income by 444.4% during the 2nd quarter. Pacifica Partners Inc. now owns 490 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 400 shares during the period. Rosenberg Matthew Hamilton boosted its stake in shares of Realty Income by 75.4% in the third quarter. Rosenberg Matthew Hamilton now owns 491 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 211 shares during the period. MFA Wealth Advisors LLC purchased a new position in shares of Realty Income in the second quarter valued at approximately $33,000. Creative Capital Management Investments LLC grew its holdings in shares of Realty Income by 133.3% in the third quarter. Creative Capital Management Investments LLC now owns 525 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 300 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in Realty Income during the 2nd quarter worth approximately $42,000. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on O shares. Wedbush began coverage on shares of Realty Income in a research note on Monday, August 19th. They issued a “neutral” rating and a $64.00 price target for the company. UBS Group lowered their target price on Realty Income from $72.00 to $71.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Royal Bank of Canada reduced their price target on Realty Income from $67.00 to $63.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. JPMorgan Chase & Co. lifted their price objective on Realty Income from $60.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. Finally, Scotiabank upped their target price on shares of Realty Income from $61.00 to $64.00 and gave the stock a “sector perform” rating in a research note on Tuesday, September 17th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $63.85.

Realty Income Trading Down 1.6 %

Shares of Realty Income stock opened at $56.68 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.68. The company has a fifty day simple moving average of $60.36 and a 200-day simple moving average of $58.22. The stock has a market cap of $49.61 billion, a price-to-earnings ratio of 53.98, a PEG ratio of 4.07 and a beta of 0.98. Realty Income Co. has a 12-month low of $50.65 and a 12-month high of $64.88.

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

Realty Income Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a $0.2635 dividend. The ex-dividend date is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 5.58%. This is a boost from Realty Income’s previous monthly dividend of $0.24. Realty Income’s payout ratio is currently 300.96%.

Insider Activity

In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total transaction of $107,136.96. Following the completion of the sale, the director now directly owns 26,579 shares of the company’s stock, valued at $1,663,313.82. This represents a 6.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.10% of the company’s stock.

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.