California Public Employees Retirement System Sells 314,285 Shares of Realty Income Corporation $O

Key Points

• CalPERS trimmed its Realty Income stake by 13.0% in the first quarter, selling 314,285 shares and leaving it with 2,094,823 shares valued at about $128.2 million.
• Wall Street’s view is mixed: recent analyst moves included upgrades and higher price targets, but the overall consensus remains Hold with an average target of $67.17.
• Realty Income reported solid quarterly results and a monthly dividend, beating EPS and revenue estimates, while announcing a $0.271 monthly payout that implies a 5.0% annualized yield.

California Public Employees Retirement System decreased its holdings in shares of Realty Income Corporation (NYSE:O - Free Report) by 13.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,094,823 shares of the real estate investment trust's stock after selling 314,285 shares during the period. California Public Employees Retirement System owned 0.22% of Realty Income worth $128,161,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Realty Income by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 150,415,287 shares of the real estate investment trust's stock worth $8,478,910,000 after buying an additional 684,949 shares in the last quarter. Pensionfund PDN purchased a new stake in shares of Realty Income during the fourth quarter valued at approximately $7,434,000. Sound Income Strategies LLC increased its position in shares of Realty Income by 8.2% during the fourth quarter. Sound Income Strategies LLC now owns 352,918 shares of the real estate investment trust's stock valued at $21,676,000 after acquiring an additional 26,890 shares in the last quarter. LDR Capital Management LLC increased its position in shares of Realty Income by 117.6% during the fourth quarter. LDR Capital Management LLC now owns 29,285 shares of the real estate investment trust's stock valued at $1,651,000 after acquiring an additional 15,825 shares in the last quarter. Finally, Danske Bank A S raised its holdings in Realty Income by 20.3% in the 4th quarter. Danske Bank A S now owns 568,121 shares of the real estate investment trust's stock worth $32,025,000 after acquiring an additional 95,773 shares during the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

O has been the topic of several analyst reports. Freedom Capital raised Realty Income from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 11th. Wells Fargo & Company boosted their price target on Realty Income from $64.00 to $65.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Huntington began coverage on Realty Income in a report on Wednesday. They set an "outperform" rating and a $70.00 price target on the stock. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Realty Income in a report on Wednesday, July 8th. Finally, Robert W. Baird increased their price objective on Realty Income from $64.00 to $65.00 and gave the company a "neutral" rating in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $67.17.

Realty Income Stock Down 0.1%

Shares of Realty Income stock opened at $65.70 on Friday. The company has a market cap of $61.26 billion, a price-to-earnings ratio of 53.85, a price-to-earnings-growth ratio of 5.13 and a beta of 0.72. The company's 50 day moving average is $62.13 and its 200 day moving average is $62.41. Realty Income Corporation has a twelve month low of $55.86 and a twelve month high of $67.93. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.72.

Realty Income (NYSE:O - Get Free Report) last issued its earnings results on Wednesday, May 6th. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.03. Realty Income had a net margin of 18.94% and a return on equity of 2.80%. The company had revenue of $1.55 billion for the quarter, compared to analysts' expectations of $1.39 billion. During the same quarter last year, the company posted $1.06 earnings per share. The firm's quarterly revenue was up 12.2% on a year-over-year basis. Realty Income has set its FY 2026 guidance at 4.410-4.440 EPS. Research analysts anticipate that Realty Income Corporation will post 4.45 EPS for the current year.

Realty Income Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be paid a $0.271 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Friday, July 31st. Realty Income's dividend payout ratio (DPR) is 266.39%.

Realty Income Company Profile

Realty Income Corporation NYSE: O is a real estate investment trust (REIT) that acquires, owns and manages commercial properties subject primarily to long-term net lease agreements. The company's business model focuses on generating predictable, contractual rental income by leasing properties to tenants under agreements that typically place responsibility for taxes, insurance and maintenance on the tenant. Realty Income is publicly traded on the New York Stock Exchange and markets itself as a reliable income-oriented REIT.

Realty Income's portfolio is concentrated in single-tenant, retail and service-oriented properties such as drugstores, convenience stores, dollar and discount retailers, restaurants, and other essential-service businesses.

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