35,819 Shares in Realty Income Co. (NYSE:O) Bought by Manning & Napier Group LLC

Posted by on Apr 9th, 2023

Manning & Napier Group LLC bought a new position in shares of Realty Income Co. (NYSE:O – Get Rating) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 35,819 shares of the real estate investment trust’s stock, valued at approximately $2,272,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Creative Capital Management Investments LLC acquired a new stake in Realty Income during the 4th quarter worth about $28,000. Phocas Financial Corp. acquired a new stake in Realty Income during the fourth quarter worth approximately $32,000. HWG Holdings LP bought a new stake in Realty Income in the third quarter worth approximately $41,000. Old North State Trust LLC acquired a new position in Realty Income in the third quarter valued at approximately $47,000. Finally, CI Investments Inc. boosted its holdings in shares of Realty Income by 1,004.1% during the 3rd quarter. CI Investments Inc. now owns 806 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 733 shares in the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on O shares. Raymond James cut shares of Realty Income from an “outperform” rating to a “market perform” rating in a report on Monday, January 9th. BNP Paribas initiated coverage on Realty Income in a research report on Tuesday, January 17th. They issued a “neutral” rating and a $72.00 target price for the company. StockNews.com initiated coverage on Realty Income in a research note on Thursday, March 16th. They set a “sell” rating on the stock. Stifel Nicolaus reduced their price objective on Realty Income from $72.25 to $71.00 and set a “buy” rating for the company in a research note on Thursday, March 23rd. Finally, Royal Bank of Canada upped their target price on Realty Income from $68.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, February 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $71.89.

Realty Income Price Performance

O stock opened at $62.57 on Friday. The firm has a 50 day simple moving average of $64.23 and a two-hundred day simple moving average of $63.30. The stock has a market cap of $41.33 billion, a PE ratio of 44.06, a P/E/G ratio of 3.06 and a beta of 0.80. Realty Income Co. has a one year low of $55.50 and a one year high of $75.40. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.85 and a quick ratio of 1.85.

Realty Income (NYSE:O – Get Rating) last announced its quarterly earnings data on Tuesday, February 21st. The real estate investment trust reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.62). The firm had revenue of $888.65 million for the quarter, compared to analysts’ expectations of $840.57 million. Realty Income had a net margin of 26.00% and a return on equity of 3.14%. The business’s quarterly revenue was up 29.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.94 earnings per share. On average, analysts predict that Realty Income Co. will post 4.09 EPS for the current fiscal year.

Realty Income Increases Dividend

The company also recently declared a mar 23 dividend, which will be paid on Friday, April 14th. Shareholders of record on Monday, April 3rd will be given 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 boost from Realty Income’s previous mar 23 dividend of $0.25. Realty Income’s dividend payout ratio is presently 215.49%.

Realty Income Profile

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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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