Manning & Napier Advisors LLC Invests $4.35 Million in Realty Income Corporation (NYSE:O)

Manning & Napier Advisors LLC purchased a new position in Realty Income Corporation (NYSE:O) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 75,000 shares of the real estate investment trust’s stock, valued at approximately $4,351,000.

A number of other institutional investors also recently made changes to their positions in the stock. Norges Bank acquired a new position in Realty Income in the fourth quarter valued at $624,666,000. Raymond James Financial Inc. acquired a new position in Realty Income in the fourth quarter valued at $553,572,000. Northern Trust Corp increased its stake in Realty Income by 41.2% in the fourth quarter. Northern Trust Corp now owns 13,139,719 shares of the real estate investment trust’s stock valued at $701,792,000 after purchasing an additional 3,834,403 shares during the last quarter. California Public Employees Retirement System increased its stake in Realty Income by 26.7% in the fourth quarter. California Public Employees Retirement System now owns 3,849,998 shares of the real estate investment trust’s stock valued at $205,628,000 after purchasing an additional 811,037 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Realty Income by 6,002.1% in the first quarter. GAMMA Investing LLC now owns 706,562 shares of the real estate investment trust’s stock valued at $40,988,000 after purchasing an additional 694,983 shares during the last quarter. 70.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on O. JPMorgan Chase & Co. dropped their target price on Realty Income from $64.00 to $61.00 and set a “neutral” rating for the company in a research note on Monday, May 5th. Scotiabank upped their price target on Realty Income from $57.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Monday, May 12th. UBS Group dropped their price target on Realty Income from $64.00 to $62.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. Royal Bank Of Canada dropped their price target on Realty Income from $62.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Finally, Barclays restated an “overweight” rating on shares of Realty Income in a research note on Tuesday, April 22nd. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $61.15.

Realty Income Price Performance

Shares of NYSE O opened at $57.24 on Monday. The company has a market capitalization of $51.70 billion, a price-to-earnings ratio of 52.04, a PEG ratio of 4.00 and a beta of 0.76. Realty Income Corporation has a 1-year low of $50.71 and a 1-year high of $64.88. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.74 and a quick ratio of 1.74. The business has a 50-day moving average of $56.74 and a 200-day moving average of $55.57.

Realty Income (NYSE:O) last issued its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $1.06 EPS for the quarter, meeting analysts’ consensus estimates of $1.06. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.28 billion. Realty Income had a return on equity of 2.51% and a net margin of 18.15%. Realty Income’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.03 earnings per share. On average, equities analysts anticipate that Realty Income Corporation will post 4.19 EPS for the current fiscal year.

Realty Income Increases Dividend

The firm also recently declared a jul 25 dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a $0.269 dividend. The ex-dividend date is Tuesday, July 1st. This represents a yield of 5.6%. This is an increase from Realty Income’s previous jul 25 dividend of $0.27. Realty Income’s dividend payout ratio is currently 292.73%.

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.