Canada Pension Plan Investment Board Sells 1,539,176 Shares of Realty Income Corporation $O

Key Points

• The Canada Pension Plan Investment Board cut its stake in Realty Income Corporation by 55.8% during the 1st quarter, reducing its ownership to approximately 1,220,411 shares worth $70.8 million.
• Other institutional investors, like Vanguard Group and Nuveen LLC, increased their stakes in Realty Income, indicating a mixed sentiment among hedge funds, with 70.81% of shares currently held by institutional investors.
• Realty Income announced an increase in its monthly dividend to $0.269 per share, representing an annualized yield of 5.5%, despite a payout ratio of 313.59%.

Canada Pension Plan Investment Board lessened its position in shares of Realty Income Corporation (NYSE:O - Free Report) by 55.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,220,411 shares of the real estate investment trust's stock after selling 1,539,176 shares during the quarter. Canada Pension Plan Investment Board owned 0.14% of Realty Income worth $70,796,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Realty Income by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 142,511,359 shares of the real estate investment trust's stock worth $8,267,084,000 after acquiring an additional 3,274,853 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Realty Income by 3.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,108,561 shares of the real estate investment trust's stock worth $702,381,000 after purchasing an additional 451,307 shares during the period. Invesco Ltd. lifted its position in Realty Income by 0.4% during the first quarter. Invesco Ltd. now owns 11,421,973 shares of the real estate investment trust's stock valued at $662,589,000 after purchasing an additional 48,024 shares in the last quarter. Raymond James Financial Inc. lifted its position in Realty Income by 9.6% during the first quarter. Raymond James Financial Inc. now owns 11,356,883 shares of the real estate investment trust's stock valued at $658,813,000 after purchasing an additional 992,303 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Realty Income by 1.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,112,801 shares of the real estate investment trust's stock valued at $586,644,000 after purchasing an additional 123,501 shares during the period. Institutional investors own 70.81% of the company's stock.

Realty Income Price Performance

O traded up $0.62 during trading hours on Friday, hitting $58.75. The company's stock had a trading volume of 4,365,965 shares, compared to its average volume of 5,194,578. The stock has a market cap of $53.72 billion, a price-to-earnings ratio of 57.04, a P/E/G ratio of 4.49 and a beta of 0.77. The business's 50-day moving average price is $57.64 and its 200-day moving average price is $56.87. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.72. 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 for the quarter, missing the consensus estimate of $1.06 by ($0.01). The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.33 billion. Realty Income had a return on equity of 2.34% and a net margin of 16.77%.The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 earnings per share. Sell-side analysts expect that Realty Income Corporation will post 4.19 earnings per share for the current fiscal year.

Realty Income Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.269 per share. This is a boost from Realty Income's previous monthly dividend of $0.26. This represents a c) annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. Realty Income's payout ratio is presently 313.59%.

Wall Street Analysts Forecast Growth

O has been the topic of a number of analyst reports. Wedbush reaffirmed a "neutral" rating and set a $61.00 price objective on shares of Realty Income in a research report on Wednesday, May 7th. UBS Group raised their target price on shares of Realty Income from $62.00 to $66.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. JPMorgan Chase & Co. lowered their price target on shares of Realty Income from $64.00 to $61.00 and set a "neutral" rating on the stock in a report on Monday, May 5th. Stifel Nicolaus increased their price objective on shares of Realty Income from $65.50 to $68.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Finally, Wolfe Research downgraded shares of Realty Income from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. Three research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, Realty Income presently has an average rating of "Hold" and an average target price of $62.00.

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.