Confluence Wealth Services Inc. Purchases New Position in Realty Income Corporation $O

Key Points

• Confluence Wealth Services Inc. has acquired a new stake in Realty Income Corporation, purchasing 27,077 shares valued at approximately $1.56 million.
• Realty Income has recently increased its monthly dividend to $0.2695 per share, reflecting a boost from its previous dividend and yielding about 5.4%.
• Mizuho raised its target price for Realty Income from $60.00 to $63.00, while UBS Group increased theirs from $62.00 to $66.00, indicating positive analyst sentiment.

Confluence Wealth Services Inc. bought a new stake in Realty Income Corporation (NYSE:O - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 27,077 shares of the real estate investment trust's stock, valued at approximately $1,560,000.

A number of other large investors have also recently made changes to their positions in the company. Compagnie Lombard Odier SCmA acquired a new stake in shares of Realty Income in the second quarter valued at approximately $25,000. Keystone Global Partners LLC purchased a new stake in Realty Income in the 1st quarter valued at $26,000. PSI Advisors LLC boosted its stake in Realty Income by 78.3% during the 1st quarter. PSI Advisors LLC now owns 574 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 252 shares during the period. FSC Wealth Advisors LLC grew its position in Realty Income by 288.0% during the 1st quarter. FSC Wealth Advisors LLC now owns 613 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 455 shares during the last quarter. Finally, Hilltop National Bank acquired a new position in Realty Income in the second quarter valued at $36,000. 70.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Realty Income

In related news, Director Mary Hogan Preusse sold 11,000 shares of the stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $60.43, for a total value of $664,730.00. Following the sale, the director directly owned 19,211 shares of the company's stock, valued at approximately $1,160,920.73. This represents a 36.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Mizuho upped their target price on shares of Realty Income from $60.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, September 11th. Wolfe Research downgraded Realty Income from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Evercore ISI initiated coverage on shares of Realty Income in a research report on Wednesday, October 1st. They issued an "in-line" rating and a $62.00 price objective on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Realty Income in a research report on Saturday, September 27th. Finally, UBS Group lifted their target price on shares of Realty Income from $62.00 to $66.00 and gave the company a "buy" rating in a report on Friday, August 15th. Three research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat, Realty Income currently has an average rating of "Hold" and a consensus target price of $62.25.

Realty Income Price Performance

O stock opened at $60.41 on Monday. The firm has a 50 day moving average of $58.73 and a 200-day moving average of $57.38. The company has a market cap of $55.24 billion, a price-to-earnings ratio of 58.65, a PEG ratio of 4.62 and a beta of 0.78. 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 quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $1.05 earnings per share for the quarter, missing analysts' consensus estimates of $1.06 by ($0.01). The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.33 billion. Realty Income had a return on equity of 2.34% and a net margin of 16.77%.The business's revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.07 EPS. As a group, equities analysts expect that Realty Income Corporation will post 4.19 EPS for the current fiscal year.

Realty Income Increases Dividend

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

About Realty Income

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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