466,408 Shares in Realty Income Corporation $O Acquired by Strs Ohio

Key Points

• Strs Ohio acquired 466,408 shares of Realty Income Corporation, valued at approximately $27 million, increasing its ownership to 0.05% of the company.
• Realty Income's latest earnings report showed a missed EPS estimate of $1.05, slightly below the consensus of $1.06, despite a year-over-year revenue increase of 5.3% to $1.34 billion.
• The company announced an increase in its monthly dividend to $0.2695, reflecting a dividend yield of 5.4% with a payout ratio of 313.59%.

Strs Ohio purchased a new position in shares of Realty Income Corporation (NYSE:O - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 466,408 shares of the real estate investment trust's stock, valued at approximately $27,056,000. Strs Ohio owned 0.05% of Realty Income as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. N.E.W. Advisory Services LLC raised its stake in Realty Income by 1.2% during the 1st quarter. N.E.W. Advisory Services LLC now owns 15,503 shares of the real estate investment trust's stock worth $899,000 after buying an additional 186 shares during the period. Associated Banc Corp raised its stake in Realty Income by 1.9% during the 1st quarter. Associated Banc Corp now owns 10,252 shares of the real estate investment trust's stock worth $595,000 after buying an additional 192 shares during the period. Westbourne Investments Inc. raised its stake in Realty Income by 3.9% during the 1st quarter. Westbourne Investments Inc. now owns 5,300 shares of the real estate investment trust's stock worth $307,000 after buying an additional 200 shares during the period. Activest Wealth Management raised its stake in Realty Income by 28.5% during the 1st quarter. Activest Wealth Management now owns 1,005 shares of the real estate investment trust's stock worth $58,000 after buying an additional 223 shares during the period. Finally, Kentucky Trust Co raised its stake in shares of Realty Income by 2.6% in the first quarter. Kentucky Trust Co now owns 9,035 shares of the real estate investment trust's stock worth $524,000 after purchasing an additional 225 shares during the last quarter. 70.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on O. UBS Group increased their price objective on Realty Income from $62.00 to $66.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. Wolfe Research downgraded Realty Income from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Barclays increased their price objective on Realty Income from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 20th. Mizuho increased their price objective on Realty Income from $60.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, Scotiabank increased their price objective on Realty Income from $58.00 to $60.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 28th. Three analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $62.36.

Realty Income Stock Performance

O stock opened at $60.43 on Friday. The firm has a market cap of $55.25 billion, a PE ratio of 58.67, a P/E/G ratio of 4.60 and a beta of 0.77. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.72. The business has a 50 day moving average of $57.92 and a 200-day moving average of $57.08. Realty Income Corporation has a 12-month low of $50.71 and a 12-month high of $64.88.

Realty Income (NYSE:O - Get Free Report) last released its earnings results on Wednesday, August 6th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.01). The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. Realty Income had a net margin of 16.77% and a return on equity of 2.34%. The business's revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.07 earnings per share. As a group, sell-side analysts expect that Realty Income Corporation will post 4.19 earnings per share for the current year.

Realty Income Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be issued a $0.2695 dividend. This is a boost from Realty Income's previous monthly dividend of $0.27. This represents a c) annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend is Wednesday, October 1st. Realty Income's dividend payout ratio is currently 313.59%.

Realty Income Company 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.

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