Realty Income Corporation $O Shares Sold by Parnassus Investments LLC

Parnassus Investments LLC decreased its holdings in Realty Income Corporation (NYSE:O) by 1.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 18,066,603 shares of the real estate investment trust’s stock after selling 319,512 shares during the quarter. Realty Income accounts for approximately 2.5% of Parnassus Investments LLC’s investment portfolio, making the stock its 9th largest holding. Parnassus Investments LLC’s holdings in Realty Income were worth $1,098,269,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its position in Realty Income by 1.1% in the second quarter. State Street Corp now owns 61,732,956 shares of the real estate investment trust’s stock valued at $3,556,436,000 after purchasing an additional 676,697 shares during the period. Trust Co. of Vermont boosted its position in shares of Realty Income by 2.7% in the second quarter. Trust Co. of Vermont now owns 262,700 shares of the real estate investment trust’s stock worth $15,134,000 after buying an additional 6,885 shares during the period. OLD National Bancorp IN acquired a new stake in shares of Realty Income in the third quarter valued at about $3,391,000. Federated Hermes Inc. grew its stake in shares of Realty Income by 13.1% in the second quarter. Federated Hermes Inc. now owns 2,669,031 shares of the real estate investment trust’s stock valued at $153,763,000 after buying an additional 309,902 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Realty Income by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,813,174 shares of the real estate investment trust’s stock valued at $334,897,000 after buying an additional 84,066 shares during the period. 70.81% of the stock is owned by institutional investors and hedge funds.

Realty Income Stock Performance

Realty Income stock opened at $58.16 on Friday. Realty Income Corporation has a 52 week low of $50.71 and a 52 week high of $61.08. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.72. The stock has a market cap of $53.50 billion, a P/E ratio of 53.85, a price-to-earnings-growth ratio of 3.75 and a beta of 0.80. The stock has a 50 day moving average of $57.09 and a 200-day moving average of $58.02.

Realty Income (NYSE:O) last posted its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.01. Realty Income had a net margin of 17.17% and a return on equity of 2.45%. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the prior year, the company posted $1.05 earnings per share. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. Realty Income has set its FY 2025 guidance at 4.250-4.270 EPS. On average, analysts expect that Realty Income Corporation will post 4.19 EPS for the current fiscal year.

Realty Income Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a $0.27 dividend. This is a boost from Realty Income’s previous monthly dividend of $0.27. The ex-dividend date is Wednesday, December 31st. This represents a c) dividend on an annualized basis and a dividend yield of 5.6%. Realty Income’s dividend payout ratio (DPR) is currently 300.00%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on O shares. JPMorgan Chase & Co. restated an “underweight” rating and issued a $61.00 price target on shares of Realty Income in a report on Thursday, December 18th. Evercore ISI started coverage on shares of Realty Income in a research report on Wednesday, October 1st. They set an “in-line” rating and a $62.00 target price on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Realty Income in a research note on Monday, December 29th. Morgan Stanley raised their price target on shares of Realty Income from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, December 24th. Finally, Wall Street Zen upgraded shares of Realty Income from a “sell” rating to a “hold” rating in a report on Saturday. Three research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Realty Income currently has a consensus rating of “Hold” and an average target price of $62.23.

Realty Income Profile

Realty Income Corporation (NYSE: O) is a real estate investment trust (REIT) that acquires, owns and manages commercial properties subject primarily to long-term net lease agreements. The company’s business model focuses on generating predictable, contractual rental income by leasing properties to tenants under agreements that typically place responsibility for taxes, insurance and maintenance on the tenant. Realty Income is publicly traded on the New York Stock Exchange and markets itself as a reliable income-oriented REIT.

Realty Income’s portfolio is concentrated in single-tenant, retail and service-oriented properties such as drugstores, convenience stores, dollar and discount retailers, restaurants, and other essential-service businesses.