Realty Income Co. (NYSE:O) Shares Sold by Gradient Investments LLC

Gradient Investments LLC decreased its holdings in Realty Income Co. (NYSE:O) by 10.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,886 shares of the real estate investment trust’s stock after selling 344 shares during the period. Gradient Investments LLC’s holdings in Realty Income were worth $152,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of O. Vanguard Group Inc. raised its holdings in Realty Income by 18.3% in 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 acquiring an additional 20,848,560 shares during the last quarter. Norges Bank acquired a new stake in Realty Income in the 4th quarter valued at about $506,526,000. Principal Financial Group Inc. raised its holdings in Realty Income by 107.1% in the 4th quarter. Principal Financial Group Inc. now owns 4,951,020 shares of the real estate investment trust’s stock valued at $284,288,000 after acquiring an additional 2,560,597 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC raised its holdings in Realty Income by 213.3% in 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 acquiring an additional 1,478,577 shares during the last quarter. Finally, GRS Advisors LLC acquired a new stake in Realty Income in the 4th quarter valued at about $58,843,000. Institutional investors and hedge funds own 70.81% of the company’s stock.

Realty Income Stock Up 0.6 %

O stock traded up $0.34 during midday trading on Friday, hitting $60.05. The company’s stock had a trading volume of 6,572,943 shares, compared to its average volume of 6,129,482. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.65. Realty Income Co. has a 52-week low of $45.03 and a 52-week high of $61.60. The firm has a market capitalization of $52.29 billion, a P/E ratio of 55.60, a PEG ratio of 5.05 and a beta of 0.96. The firm has a 50-day simple moving average of $55.85 and a 200-day simple moving average of $54.09.

Realty Income (NYSE:O) last issued its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.07). Realty Income had a net margin of 17.74% and a return on equity of 3.26%. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the business earned $1.00 EPS. The business’s quarterly revenue was up 31.4% on a year-over-year basis. As a group, equities analysts forecast that Realty Income Co. will post 4.2 EPS for the current year.

Realty Income Announces Dividend

The company also recently announced a sep 24 dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.263 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. Realty Income’s payout ratio is currently 291.67%.

Analysts Set New Price Targets

O has been the subject of a number of recent research reports. Morgan Stanley reiterated an “equal weight” rating and issued a $62.00 price objective on shares of Realty Income in a report on Tuesday, August 6th. Royal Bank of Canada raised their price target on shares of Realty Income from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. UBS Group raised their price target on shares of Realty Income from $61.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Scotiabank raised their price target on shares of Realty Income from $54.00 to $56.00 and gave the stock a “sector perform” rating in a report on Thursday, May 16th. Finally, KeyCorp assumed coverage on shares of Realty Income in a report on Wednesday, June 12th. They set a “sector weight” rating for the company. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $61.57.

About Realty Income

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.