Cullen Investment Group LTD. Acquires 14,414 Shares of Realty Income Corporation $O

Cullen Investment Group LTD. grew its position in shares of Realty Income Corporation (NYSE:O) by 18.1% during the second quarter, HoldingsChannel.com reports. The firm owned 94,134 shares of the real estate investment trust’s stock after purchasing an additional 14,414 shares during the period. Cullen Investment Group LTD.’s holdings in Realty Income were worth $5,423,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. AG2R LA Mondiale Gestion D Actifs acquired a new stake in shares of Realty Income during the first quarter valued at about $2,019,000. Swedbank AB boosted its stake in shares of Realty Income by 75.0% during the first quarter. Swedbank AB now owns 118,586 shares of the real estate investment trust’s stock valued at $6,879,000 after purchasing an additional 50,814 shares in the last quarter. Voya Investment Management LLC boosted its stake in shares of Realty Income by 0.3% during the first quarter. Voya Investment Management LLC now owns 250,414 shares of the real estate investment trust’s stock valued at $14,527,000 after purchasing an additional 783 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its stake in shares of Realty Income by 87.6% during the first quarter. CBIZ Investment Advisory Services LLC now owns 649 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 303 shares in the last quarter. Finally, Modern Wealth Management LLC boosted its stake in shares of Realty Income by 3.7% during the first quarter. Modern Wealth Management LLC now owns 16,109 shares of the real estate investment trust’s stock valued at $934,000 after purchasing an additional 580 shares in the last quarter. 70.81% of the stock is owned by institutional investors and hedge funds.

Realty Income Price Performance

Realty Income stock opened at $60.43 on Friday. The stock’s 50 day moving average is $57.92 and its 200 day moving average is $57.08. 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 $55.25 billion, a P/E ratio of 58.67, a P/E/G ratio of 4.60 and a beta of 0.77. Realty Income Corporation has a one year low of $50.71 and a one year high of $64.88.

Realty Income (NYSE:O) last issued its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.01). Realty Income had a net margin of 16.77% and a return on equity of 2.34%. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the firm posted $1.07 earnings per share. Realty Income’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, research analysts expect that Realty Income Corporation will post 4.19 EPS for the current year.

Realty Income Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be paid a $0.2695 dividend. This represents a c) annualized dividend and a yield of 5.4%. This is a boost from Realty Income’s previous monthly dividend of $0.27. The ex-dividend date of this dividend is Wednesday, October 1st. Realty Income’s payout ratio is presently 313.59%.

Wall Street Analysts Forecast Growth

O has been the topic of a number of recent research reports. Scotiabank lifted their price target on Realty Income from $58.00 to $60.00 and gave the company a “sector perform” rating in a research note on Thursday, August 28th. UBS Group lifted their price target on Realty Income from $62.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, August 15th. Wolfe Research lowered Realty Income from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 14th. Barclays lifted their price objective on Realty Income from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 20th. Finally, Mizuho lifted their price objective on Realty Income from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday. Three equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $62.36.

Realty Income 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.