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

Cornerstone Wealth Management LLC cut its holdings in Realty Income Co. (NYSE:O) by 10.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,536 shares of the real estate investment trust’s stock after selling 403 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Realty Income were worth $224,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position 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 worth $7,290,982,000 after purchasing an additional 20,848,560 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Realty Income by 4.5% during the 2nd quarter. Legal & General Group Plc now owns 12,258,468 shares of the real estate investment trust’s stock worth $647,492,000 after purchasing an additional 531,008 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Realty Income by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 11,682,105 shares of the real estate investment trust’s stock worth $617,043,000 after buying an additional 413,865 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Realty Income by 2.2% in the first quarter. Daiwa Securities Group Inc. now owns 9,214,683 shares of the real estate investment trust’s stock valued at $498,514,000 after buying an additional 196,635 shares during the last quarter. Finally, APG Asset Management US Inc. lifted its stake in shares of Realty Income by 3.1% during the second quarter. APG Asset Management US Inc. now owns 8,680,325 shares of the real estate investment trust’s stock valued at $454,502,000 after buying an additional 265,000 shares during the period. 70.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on O. Wells Fargo & Company reiterated an “equal weight” rating and issued a $65.00 price target (up from $62.00) on shares of Realty Income in a report on Tuesday, October 1st. JPMorgan Chase & Co. upped their target price on Realty Income from $60.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. Stifel Nicolaus raised their price target on Realty Income from $67.50 to $70.25 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Royal Bank of Canada upped their price objective on shares of Realty Income from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, UBS Group raised their target price on shares of Realty Income from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $63.94.

Realty Income Price Performance

Realty Income stock opened at $64.71 on Friday. 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 capitalization of $56.35 billion, a P/E ratio of 59.92, a PEG ratio of 4.32 and a beta of 0.99. The firm has a fifty day moving average of $62.03 and a 200-day moving average of $57.08. Realty Income Co. has a 52-week low of $45.03 and a 52-week high of $64.76.

Realty Income (NYSE:O) last released its quarterly earnings data 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 17.89% and a return on equity of 2.36%. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the business earned $1.00 earnings per share. The company’s revenue for the quarter was up 31.4% compared to the same quarter last year. As a group, analysts predict that Realty Income Co. will post 4.2 EPS for the current year.

Realty Income Dividend Announcement

The business also recently declared a nov 24 dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a dividend of $0.2635 per share. This represents a yield of 5.1%. The ex-dividend date of this dividend is Friday, November 1st. Realty Income’s dividend payout ratio (DPR) is presently 292.59%.

Insiders Place Their Bets

In related news, Director Mary Hogan Preusse sold 1,712 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 26,579 shares of the company’s stock, valued at approximately $1,663,313.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the company’s stock in a transaction that occurred 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 directly owns 5,257 shares of the company’s stock, valued at $319,467.89. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 sale, the director now directly owns 26,579 shares of the company’s stock, valued at $1,663,313.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by company 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.