Cullinan Associates Inc. Makes New Investment in Realty Income Co. (NYSE:O)

Posted by on Mar 21st, 2023

Cullinan Associates Inc. bought a new position in Realty Income Co. (NYSE:O – Get Rating) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,889 shares of the real estate investment trust’s stock, valued at approximately $310,000.

Several other large investors also recently added to or reduced their stakes in O. Foundations Investment Advisors LLC acquired a new stake in shares of Realty Income in the fourth quarter worth $285,000. EWG Elevate Inc. acquired a new position in Realty Income during the 4th quarter valued at $58,000. Glassy Mountain Advisors Inc. acquired a new position in Realty Income during the 4th quarter valued at $811,000. Phocas Financial Corp. acquired a new position in Realty Income during the 4th quarter valued at $32,000. Finally, RB Capital Management LLC raised its stake in Realty Income by 6.1% during the 4th quarter. RB Capital Management LLC now owns 22,072 shares of the real estate investment trust’s stock valued at $1,400,000 after purchasing an additional 1,273 shares during the last quarter. 80.56% of the stock is owned by institutional investors.

Realty Income Stock Up 1.0 %

O opened at $61.97 on Tuesday. The firm’s 50-day simple moving average is $65.57 and its 200-day simple moving average is $63.70. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.85 and a current ratio of 1.85. Realty Income Co. has a twelve month low of $55.50 and a twelve month high of $75.40. The firm has a market cap of $40.93 billion, a price-to-earnings ratio of 43.64, a PEG ratio of 5.01 and a beta of 0.79.

Realty Income (NYSE:O – Get Rating) last posted its earnings results on Tuesday, February 21st. The real estate investment trust reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.62). Realty Income had a return on equity of 3.14% and a net margin of 26.00%. The firm had revenue of $888.65 million during the quarter, compared to the consensus estimate of $840.57 million. During the same period in the previous year, the company posted $0.94 EPS. The firm’s revenue for the quarter was up 29.7% compared to the same quarter last year. Equities research analysts anticipate that Realty Income Co. will post 4.09 EPS for the current fiscal year.

Realty Income Increases Dividend

The business also recently disclosed a mar 23 dividend, which will be paid on Friday, April 14th. Shareholders of record on Monday, April 3rd will be issued a dividend of $0.255 per share. The ex-dividend date is Friday, March 31st. This represents a yield of 4.8%. This is a positive change from Realty Income’s previous mar 23 dividend of $0.25. Realty Income’s dividend payout ratio is currently 214.79%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on O shares. Royal Bank of Canada upped their target price on shares of Realty Income from $68.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, February 23rd. Raymond James lowered shares of Realty Income from an “outperform” rating to a “market perform” rating in a report on Monday, January 9th. Mizuho lowered their price target on shares of Realty Income from $69.00 to $66.00 and set a “neutral” rating on the stock in a report on Thursday, March 9th. BNP Paribas started coverage on shares of Realty Income in a report on Tuesday, January 17th. They issued a “neutral” rating and a $72.00 price target on the stock. Finally, StockNews.com started coverage on shares of Realty Income in a report on Thursday, March 16th. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $72.00.

About Realty Income

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Realty Income Corp. is a real estate company, which engages in generating dependable monthly cash dividends from a consistent and predictable level of cash flow from operations. The company was founded by William E. Clark, Jr. and Evelyn Joan Clark in 1969 and is headquartered in San Diego, CA.

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Institutional Ownership by Quarter for Realty Income (NYSE:O)

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