Perennial Investment Advisors LLC Reduces Stock Position in Realty Income Co. (NYSE:O)

Perennial Investment Advisors LLC lowered its stake in Realty Income Co. (NYSE:O) by 2.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,868 shares of the real estate investment trust’s stock after selling 455 shares during the quarter. Perennial Investment Advisors LLC’s holdings in Realty Income were worth $944,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of 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 worth $7,290,982,000 after acquiring an additional 20,848,560 shares during the last quarter. Norges Bank purchased a new position in shares of Realty Income during the 4th quarter worth $506,526,000. Cbre Investment Management Listed Real Assets LLC boosted its stake in shares of 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 worth $124,708,000 after acquiring an additional 1,478,577 shares during the last quarter. Raymond James & Associates boosted its stake in shares of 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 worth $177,844,000 after acquiring an additional 1,460,884 shares during the last quarter. Finally, GRS Advisors LLC purchased a new position in shares of Realty Income during the 4th quarter valued at $58,843,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Realty Income Trading Down 0.0 %

NYSE O opened at $62.68 on Tuesday. Realty Income Co. has a 52 week low of $45.03 and a 52 week high of $63.39. The company has a 50 day moving average price of $59.68 and a 200 day moving average price of $55.45. 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 firm has a market cap of $54.58 billion, a PE ratio of 58.04, a price-to-earnings-growth ratio of 4.65 and a beta of 0.99.

Realty Income (NYSE:O) last issued its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The business had revenue of $1.34 billion for 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 was up 31.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.00 EPS. As a group, sell-side analysts forecast that Realty Income Co. will post 3.93 EPS for the current fiscal year.

Realty Income Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. KeyCorp assumed coverage on shares of Realty Income in a research note on Wednesday, June 12th. They set a “sector weight” rating on the stock. UBS Group lifted their target price on shares of Realty Income from $61.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Wells Fargo & Company lifted their target price on shares of Realty Income from $57.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. lifted their price target on shares of Realty Income from $60.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Finally, Wedbush started coverage on Realty Income in a research report on Monday, August 19th. They set a “neutral” rating and a $64.00 target price for the company. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $62.38.

Insider Activity at Realty Income

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

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.