OLD National Bancorp IN Takes Position in Realty Income Corporation $O

OLD National Bancorp IN acquired a new stake in shares of Realty Income Corporation (NYSE:O) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 55,784 shares of the real estate investment trust’s stock, valued at approximately $3,391,000.

Other hedge funds have also recently bought and sold shares of the company. Moseley Investment Management Inc. lifted its stake in shares of Realty Income by 1.3% during the 2nd quarter. Moseley Investment Management Inc. now owns 13,565 shares of the real estate investment trust’s stock worth $781,000 after purchasing an additional 175 shares during the period. Castle Rock Wealth Management LLC grew its position in shares of Realty Income by 0.6% in the second quarter. Castle Rock Wealth Management LLC now owns 27,421 shares of the real estate investment trust’s stock valued at $1,552,000 after purchasing an additional 177 shares during the period. Creative Financial Designs Inc. ADV increased its stake in Realty Income by 10.7% in the second quarter. Creative Financial Designs Inc. ADV now owns 1,833 shares of the real estate investment trust’s stock valued at $106,000 after purchasing an additional 177 shares during the last quarter. Revisor Wealth Management LLC lifted its position in Realty Income by 2.3% during the second quarter. Revisor Wealth Management LLC now owns 7,935 shares of the real estate investment trust’s stock worth $454,000 after buying an additional 178 shares during the period. Finally, Pure Financial Advisors LLC boosted its stake in Realty Income by 3.5% in the 2nd quarter. Pure Financial Advisors LLC now owns 5,519 shares of the real estate investment trust’s stock worth $318,000 after buying an additional 185 shares during the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on O shares. Cantor Fitzgerald dropped their price objective on shares of Realty Income from $64.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Barclays boosted their target price on shares of Realty Income from $63.00 to $64.00 and gave the company an “equal weight” rating in a report on Wednesday, December 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Realty Income in a research report on Monday. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $61.00 price target on shares of Realty Income in a report on Thursday, December 18th. Finally, Mizuho lowered their price objective on shares of Realty Income from $63.00 to $60.00 and set a “neutral” rating for the company in a research note on Wednesday, December 17th. Three investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $62.00.

Realty Income Trading Down 1.3%

NYSE O opened at $55.91 on Wednesday. The firm has a market capitalization of $51.43 billion, a price-to-earnings ratio of 51.76, a PEG ratio of 3.55 and a beta of 0.80. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.53 and a current ratio of 1.53. Realty Income Corporation has a one year low of $50.71 and a one year high of $61.08. The company’s 50 day moving average price is $57.71 and its 200 day moving average price is $58.06.

Realty Income (NYSE:O) last released its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the firm earned $1.05 earnings per share. Realty Income’s revenue for the quarter 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, sell-side analysts predict that Realty Income Corporation will post 4.19 EPS for the current year.

Realty Income Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a $0.27 dividend. The ex-dividend date is Wednesday, December 31st. This represents a c) annualized dividend and a yield of 5.8%. This is an increase from Realty Income’s previous monthly dividend of $0.27. Realty Income’s payout ratio is currently 299.07%.

Insider Buying and Selling

In other Realty Income news, Director Mary Hogan Preusse sold 11,000 shares of the business’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $60.43, for a total transaction of $664,730.00. Following the transaction, the director owned 19,211 shares in the company, valued at $1,160,920.73. The trade was a 36.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.10% of the stock is owned by company insiders.

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.