Perennial Investment Advisors LLC Decreases Stake in Realty Income Co. (NYSE:O)

Perennial Investment Advisors LLC decreased its holdings in Realty Income Co. (NYSE:O) by 2.5% in the second quarter, according to the company in its most recent filing 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 period. Perennial Investment Advisors LLC’s holdings in Realty Income were worth $944,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Founders Financial Securities LLC raised its stake in shares of Realty Income by 0.9% in the 2nd quarter. Founders Financial Securities LLC now owns 21,210 shares of the real estate investment trust’s stock valued at $1,120,000 after acquiring an additional 181 shares during the period. Crossmark Global Holdings Inc. grew its holdings in Realty Income by 0.6% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 35,285 shares of the real estate investment trust’s stock worth $1,864,000 after acquiring an additional 199 shares in the last quarter. Optimum Investment Advisors grew its holdings in Realty Income by 11.1% during the 2nd quarter. Optimum Investment Advisors now owns 2,000 shares of the real estate investment trust’s stock worth $106,000 after acquiring an additional 200 shares in the last quarter. MeadowBrook Investment Advisors LLC grew its holdings in Realty Income by 3.4% during the 2nd quarter. MeadowBrook Investment Advisors LLC now owns 6,092 shares of the real estate investment trust’s stock worth $322,000 after acquiring an additional 200 shares in the last quarter. Finally, First Affirmative Financial Network grew its holdings in Realty Income by 2.1% during the 1st quarter. First Affirmative Financial Network now owns 9,828 shares of the real estate investment trust’s stock worth $532,000 after acquiring an additional 201 shares in the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on O. KeyCorp began coverage on shares of Realty Income in a report on Wednesday, June 12th. They set a “sector weight” rating for the company. Robert W. Baird upped their price objective on Realty Income from $57.00 to $58.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. UBS Group boosted their target price on Realty Income from $61.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Stifel Nicolaus increased their price target on Realty Income from $67.50 to $70.25 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Realty Income from $60.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Realty Income has a consensus rating of “Hold” and a consensus price target of $62.38.

Realty Income Price Performance

Shares of NYSE O opened at $62.68 on Tuesday. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.66. 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’s 50-day moving average price is $59.68 and its 200 day moving average price is $55.45. Realty Income Co. has a 52 week low of $45.03 and a 52 week high of $63.39.

Realty Income (NYSE:O) last issued its quarterly earnings data 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). The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.22 billion. Realty Income had a return on equity of 3.27% and a net margin of 17.89%. The company’s revenue for the quarter was up 31.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.00 earnings per share. As a group, research analysts forecast that Realty Income Co. will post 3.93 earnings per share 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 paid a dividend of $0.2635 per share. This is a boost from Realty Income’s previous oct 24 dividend of $0.26. This represents a dividend yield of 5%. The ex-dividend date is Tuesday, October 1st. Realty Income’s dividend payout ratio (DPR) is currently 292.59%.

Insider Activity

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

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.