20,034 Realty Income Corporation $O Shares Sold by Convergence Financial LLC

Key Points

• Convergence Financial reduced its Realty Income stake by 51.6% in the third quarter, selling 20,034 shares and retaining 18,770 shares valued at approximately $1.02 million. Institutional investors collectively own 70.81% of the REIT.
• Analysts maintain a consensus “Moderate Buy” rating on Realty Income, with an average price target of $72.34, despite mixed individual rating changes.
• Realty Income was trading near $56.19 and offered a monthly dividend of $0.2715 per share, equivalent to an annualized yield of about 5.8%; its latest quarter met EPS estimates and revenue rose 9.7% year over year.

Convergence Financial LLC cut its holdings in shares of Realty Income Corporation (NYSE:O - Free Report) by 51.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,770 shares of the real estate investment trust's stock after selling 20,034 shares during the period. Convergence Financial LLC's holdings in Realty Income were worth $1,019,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in O. Tactive Advisors LLC grew its stake in Realty Income by 1.8% during the 2nd quarter. Tactive Advisors LLC now owns 9,239 shares of the real estate investment trust's stock worth $572,000 after buying an additional 163 shares during the last quarter. Florida Trust Wealth Management Co increased its position in Realty Income by 0.5% during the 2nd quarter. Florida Trust Wealth Management Co now owns 41,359 shares of the real estate investment trust's stock valued at $2,563,000 after buying an additional 219 shares in the last quarter. TD Waterhouse Canada Inc. increased its position in Realty Income by 2.6% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 8,797 shares of the real estate investment trust's stock valued at $544,000 after buying an additional 225 shares in the last quarter. Summit Wealth Group LLC Co. increased its position in Realty Income by 4.8% during the 2nd quarter. Summit Wealth Group LLC Co. now owns 4,893 shares of the real estate investment trust's stock valued at $303,000 after buying an additional 226 shares in the last quarter. Finally, Whittier Trust Co. raised its stake in Realty Income by 29.8% in the first quarter. Whittier Trust Co. now owns 989 shares of the real estate investment trust's stock valued at $61,000 after buying an additional 227 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on O. Weiss Ratings downgraded Realty Income from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, September 18th. Huntington assumed coverage on Realty Income in a research note on Wednesday, July 15th. They set an "outperform" rating and a $70.00 price target on the stock. Truist Financial upgraded Realty Income from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 14th. Barclays cut their price objective on shares of Realty Income from $65.00 to $61.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 20th. Finally, Robert W. Baird increased their price objective on shares of Realty Income from $64.00 to $65.00 and gave the company a "neutral" rating in a research report on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Realty Income currently has a consensus rating of "Moderate Buy" and an average price target of $72.34.

Realty Income Trading Down 1.1%

NYSE:O opened at $56.19 on Thursday. Realty Income Corporation has a 12 month low of $53.15 and a 12 month high of $67.93. The firm has a fifty day simple moving average of $57.74 and a 200-day simple moving average of $61.61. The company has a current ratio of 5.88, a quick ratio of 5.88 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $53.16 billion, a P/E ratio of 41.01, a PEG ratio of 4.44 and a beta of 0.69.

Realty Income (NYSE:O - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $1.09 earnings per share for the quarter, meeting analysts' consensus estimates of $1.09. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.40 billion. Realty Income had a net margin of 20.93% and a return on equity of 3.12%. The business's quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.05 earnings per share. Realty Income has set its FY 2026 guidance at 4.440-4.450 EPS. On average, equities research analysts anticipate that Realty Income Corporation will post 4.45 earnings per share for the current year.

Realty Income Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be issued a $0.2715 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $3.26 dividend on an annualized basis and a dividend yield of 5.8%. Realty Income's dividend payout ratio is currently 237.96%.

Key Stories Impacting Realty Income

Here are the key news stories impacting Realty Income this week:

• Positive Sentiment: Monthly dividend reaffirmed: Realty Income declared another $0.2715-per-share monthly dividend, or $3.258 annualized, payable November 13. The payment represents the company’s 676th consecutive monthly dividend and reinforces its appeal to income-focused investors. Realty Income Just Declared Its 676th Consecutive Monthly Dividend
• Positive Sentiment: Defensive income profile remains attractive: Articles highlighted Realty Income’s long dividend history, high occupancy, and leases with established tenants. At recent prices, the stock offers a dividend yield of roughly 5.7%, which may support demand from retirement and income investors. Here's How Much a $10,000 Investment in Realty Income Will Get You in Monthly Dividends
• Neutral Sentiment: Q3 earnings are the next major catalyst: Realty Income is expected to report third-quarter results after the market close on November 2. Analysts are focusing on revenue, adjusted funds from operations, occupancy, acquisitions, and guidance to determine whether cash-flow growth can continue. Ahead of Realty Income Q3 Earnings
• Negative Sentiment: Higher interest rates are weighing on REIT sentiment: With the 10-year Treasury yield near 5%, Realty Income’s dividend must compete with relatively attractive risk-free yields. Higher borrowing costs can also reduce acquisition economics and pressure REIT valuations. Realty Income Q3 Earnings and Rising Treasury Yields
• Negative Sentiment: Recent momentum remains weak: Realty Income trades below its 50-day and 200-day moving averages and has declined over the longer recent period. Investors may be waiting for evidence from earnings that the company’s current full-year outlook remains achievable before bidding the shares higher.

Realty Income Profile

Realty Income Corporation is a real estate investment trust (REIT) that owns and manages a diversified portfolio of commercial properties. The company primarily invests in single-tenant properties that are leased to businesses under long-term, net lease agreements, under which tenants generally are responsible for property taxes, insurance and maintenance.

Its portfolio includes retail, grocery, convenience store, industrial, distribution and other commercial properties. Realty Income serves a broad range of tenants and seeks to generate recurring rental income through long-term leases.

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