Peapack Gladstone Financial Corp Purchases 518 Shares of Realty Income Co. (NYSE:O)

Peapack Gladstone Financial Corp increased its position in Realty Income Co. (NYSE:O) by 0.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,562 shares of the real estate investment trust’s stock after buying an additional 518 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Realty Income were worth $4,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Realty Income by 765.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,545,815 shares of the real estate investment trust’s stock worth $478,556,000 after acquiring an additional 6,673,617 shares during the last quarter. Raymond James & Associates raised its position in Realty Income by 92.4% in the 3rd quarter. Raymond James & Associates now owns 6,479,542 shares of the real estate investment trust’s stock worth $410,932,000 after purchasing an additional 3,112,560 shares during the period. Janus Henderson Group PLC boosted its position in Realty Income by 3,150.5% during the third quarter. Janus Henderson Group PLC now owns 2,760,182 shares of the real estate investment trust’s stock valued at $175,142,000 after buying an additional 2,675,266 shares during the period. Parnassus Investments LLC boosted its position in Realty Income by 7.4% during the third quarter. Parnassus Investments LLC now owns 24,448,225 shares of the real estate investment trust’s stock valued at $1,550,506,000 after buying an additional 1,676,293 shares during the period. Finally, Bank of Montreal Can increased its holdings in shares of Realty Income by 102.1% in the third quarter. Bank of Montreal Can now owns 2,191,962 shares of the real estate investment trust’s stock worth $137,502,000 after buying an additional 1,107,493 shares during the period. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Realty Income Stock Performance

Shares of O opened at $55.34 on Friday. The company has a 50-day simple moving average of $59.03 and a two-hundred day simple moving average of $58.35. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.40. The firm has a market capitalization of $48.43 billion, a PE ratio of 52.71, a price-to-earnings-growth ratio of 3.89 and a beta of 0.98. Realty Income Co. has a one year low of $50.65 and a one year high of $64.88.

Realty Income (NYSE:O) last released its earnings results on Monday, November 4th. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.75). The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Realty Income had a net margin of 17.57% and a return on equity of 2.35%. The company’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.02 EPS. On average, analysts anticipate that Realty Income Co. will post 4.2 EPS for the current fiscal year.

Realty Income Increases Dividend

The firm also recently announced a jan 25 dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a $0.264 dividend. The ex-dividend date is Thursday, January 2nd. This is an increase from Realty Income’s previous jan 25 dividend of $0.26. This represents a dividend yield of 5.7%. Realty Income’s dividend payout ratio is currently 300.96%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on O shares. UBS Group dropped their target price on Realty Income from $72.00 to $71.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Stifel Nicolaus cut their target price on shares of Realty Income from $70.50 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Wells Fargo & Company reiterated an “equal weight” rating and set a $65.00 price target (up from $62.00) on shares of Realty Income in a report on Tuesday, October 1st. Wedbush started coverage on shares of Realty Income in a report on Monday, August 19th. They issued a “neutral” rating and a $64.00 price target on the stock. Finally, Royal Bank of Canada lowered their price objective on shares of Realty Income from $67.00 to $63.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Realty Income currently has an average rating of “Hold” and a consensus target price of $63.58.

Realty Income Profile

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.