Realty Income Co. (NYSE:O) Shares Sold by Cornerstone Advisors LLC

Cornerstone Advisors LLC lessened its position in Realty Income Co. (NYSE:O) by 20.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,200 shares of the real estate investment trust’s stock after selling 4,800 shares during the period. Cornerstone Advisors LLC’s holdings in Realty Income were worth $961,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Realty Income by 18.3% during the 1st quarter. Vanguard Group Inc. now owns 134,768,614 shares of the real estate investment trust’s stock valued at $7,290,982,000 after buying an additional 20,848,560 shares during the period. Norges Bank acquired a new position in Realty Income during the 4th quarter valued at about $506,526,000. Cbre Investment Management Listed Real Assets LLC increased its stake in Realty Income by 213.3% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,171,853 shares of the real estate investment trust’s stock valued at $124,708,000 after buying an additional 1,478,577 shares during the period. Raymond James & Associates increased its stake in Realty Income by 76.6% during the 2nd quarter. Raymond James & Associates now owns 3,366,982 shares of the real estate investment trust’s stock valued at $177,844,000 after buying an additional 1,460,884 shares during the period. Finally, GRS Advisors LLC acquired a new position in Realty Income during the 4th quarter valued at about $58,843,000. Institutional investors and hedge funds own 70.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Scotiabank raised their target price on shares of Realty Income from $56.00 to $61.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Stifel Nicolaus raised their price objective on shares of Realty Income from $67.50 to $70.25 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Morgan Stanley restated an “equal weight” rating and set a $62.00 price objective on shares of Realty Income in a research report on Tuesday, August 6th. Wedbush initiated coverage on shares of Realty Income in a research report on Monday, August 19th. They set a “neutral” rating and a $64.00 price objective for the company. Finally, UBS Group raised their price objective on shares of Realty Income from $61.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $62.38.

Realty Income Stock Performance

Shares of O opened at $62.68 on Tuesday. Realty Income Co. has a one year low of $45.03 and a one year high of $63.39. The company has a 50-day moving average of $59.68 and a two-hundred day moving average of $55.45. The stock has a market cap of $54.58 billion, a price-to-earnings ratio of 58.04, a PEG ratio of 4.65 and a beta of 0.99. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.39 and a quick ratio of 1.39.

Realty Income (NYSE:O) last posted its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Realty Income had a return on equity of 3.27% and a net margin of 17.89%. Realty Income’s revenue for the quarter was up 31.4% compared to the same quarter last year. During the same period last year, the company earned $1.00 earnings per share. On average, equities research analysts expect that Realty Income Co. will post 3.93 earnings per share for the current year.

Realty Income Increases Dividend

The business also recently declared a oct 24 dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a $0.2635 dividend. This represents a dividend yield of 5%. This is a positive change from Realty Income’s previous oct 24 dividend of $0.26. The ex-dividend date of this dividend is Tuesday, October 1st. Realty Income’s dividend payout ratio is 292.59%.

Insider Transactions at Realty Income

In other news, Director Mary Hogan Preusse sold 1,712 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total value of $107,136.96. Following the completion of the sale, the director now directly owns 26,579 shares of the company’s stock, valued at $1,663,313.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director A. Larry Chapman sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $60.77, for a total transaction of $303,850.00. Following the transaction, the director now owns 5,257 shares of the company’s stock, valued at $319,467.89. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mary Hogan Preusse sold 1,712 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total transaction of $107,136.96. Following the transaction, the director now directly owns 26,579 shares in the company, valued at approximately $1,663,313.82. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Realty Income Company 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.