Stock Yards Bank & Trust Co. Reduces Holdings in Realty Income Co. (NYSE:O)

Stock Yards Bank & Trust Co. lessened its stake in Realty Income Co. (NYSE:O) by 9.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,655 shares of the real estate investment trust’s stock after selling 3,902 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Realty Income were worth $1,936,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in O. Dynamic Technology Lab Private Ltd acquired a new position in shares of Realty Income during the 4th quarter valued at $1,120,000. PNC Financial Services Group Inc. increased its stake in Realty Income by 25.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 89,018 shares of the real estate investment trust’s stock valued at $5,111,000 after buying an additional 17,806 shares during the period. D.A. Davidson & CO. raised its stake in shares of Realty Income by 7.3% in the 4th quarter. D.A. Davidson & CO. now owns 227,626 shares of the real estate investment trust’s stock worth $13,070,000 after buying an additional 15,546 shares in the last quarter. Assetmark Inc. lifted its stake in Realty Income by 11.2% during the fourth quarter. Assetmark Inc. now owns 43,231 shares of the real estate investment trust’s stock valued at $2,482,000 after purchasing an additional 4,368 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Realty Income by 0.3% during the fourth quarter. Franklin Resources Inc. now owns 804,167 shares of the real estate investment trust’s stock valued at $46,175,000 after purchasing an additional 2,365 shares during the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

Realty Income Stock Down 0.3 %

O stock opened at $62.50 on Wednesday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.66. The stock’s 50 day moving average is $59.87 and its 200-day moving average is $55.52. Realty Income Co. has a twelve month low of $45.03 and a twelve month high of $63.39. The firm has a market capitalization of $54.42 billion, a PE ratio of 57.87, a P/E/G ratio of 4.65 and a beta of 0.99.

Realty Income (NYSE:O) last issued its earnings results on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.07). Realty Income had a net margin of 17.89% and a return on equity of 3.27%. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the firm earned $1.00 earnings per share. The business’s quarterly revenue was up 31.4% compared to the same quarter last year. Sell-side analysts expect that Realty Income Co. will post 3.93 EPS for the current fiscal year.

Realty Income Increases Dividend

The company also recently declared a oct 24 dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a dividend of $0.2635 per share. This is an increase from Realty Income’s previous oct 24 dividend of $0.26. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a yield of 5%. Realty Income’s dividend payout ratio (DPR) is presently 292.59%.

Insider Buying and Selling

In related news, Director Mary Hogan Preusse sold 1,712 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $60.77, for a total transaction of $303,850.00. Following the completion of the sale, the director now directly owns 5,257 shares in the company, valued at $319,467.89. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mary Hogan Preusse sold 1,712 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total value of $107,136.96. Following the transaction, the director now 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 currently owned by corporate insiders.

Analysts Set New Price Targets

O has been the topic of a number of research reports. Wells Fargo & Company upped their price target on shares of Realty Income from $57.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Monday, August 26th. Robert W. Baird upped their price target on Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Royal Bank of Canada boosted their price target on shares of Realty Income from $58.00 to $64.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Scotiabank lifted their price target on shares of Realty Income from $61.00 to $64.00 and gave the company a “sector perform” rating in a report on Tuesday. Finally, Wedbush began coverage on Realty Income in a research note on Monday, August 19th. They set a “neutral” rating and a $64.00 price target on the stock. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $62.59.

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.