Gold Investment Management Ltd. Sells 6,253 Shares of Realty Income Corporation $O

Key Points

• Gold Investment Management Ltd. reduced its stake in Realty Income Corporation by 10%, selling 6,253 shares and now owns 56,483 shares valued at approximately $3.26 million.
• Realty Income announced an increase in its monthly dividend to $0.2695 per share, with a yield of 5.3% and a payout ratio of 313.59%.
• The company's stock price is currently at $60.55, with a market capitalization of $55.36 billion and a projected earnings per share of 4.19 for the current year.

Gold Investment Management Ltd. lowered its stake in shares of Realty Income Corporation (NYSE:O - Free Report) by 10.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 56,483 shares of the real estate investment trust's stock after selling 6,253 shares during the quarter. Realty Income makes up approximately 1.2% of Gold Investment Management Ltd.'s holdings, making the stock its 29th biggest holding. Gold Investment Management Ltd.'s holdings in Realty Income were worth $3,263,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in O. Nuveen LLC bought a new stake in Realty Income during the 1st quarter worth about $207,573,000. Vanguard Group Inc. boosted its stake in shares of Realty Income by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 142,511,359 shares of the real estate investment trust's stock valued at $8,267,084,000 after purchasing an additional 3,274,853 shares during the last quarter. Centersquare Investment Management LLC boosted its stake in shares of Realty Income by 27.0% in the 1st quarter. Centersquare Investment Management LLC now owns 4,971,123 shares of the real estate investment trust's stock valued at $288,375,000 after purchasing an additional 1,055,840 shares during the last quarter. Raymond James Financial Inc. boosted its stake in shares of Realty Income by 9.6% in the 1st 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 during the last quarter. Finally, Adelante Capital Management LLC boosted its stake in shares of Realty Income by 1,380.2% in the 1st quarter. Adelante Capital Management LLC now owns 860,671 shares of the real estate investment trust's stock valued at $49,928,000 after purchasing an additional 802,526 shares during the last quarter. Institutional investors own 70.81% of the company's stock.

Realty Income Stock Down 0.4%

Realty Income stock opened at $60.55 on Thursday. The company's 50 day simple moving average is $58.64 and its 200 day simple moving average is $57.32. Realty Income Corporation has a fifty-two week low of $50.71 and a fifty-two week high of $64.88. The firm has a market capitalization of $55.36 billion, a price-to-earnings ratio of 58.78, a PEG ratio of 4.65 and a beta of 0.78. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.85 and a quick ratio of 1.85.

Realty Income (NYSE:O - Get Free Report) last released its quarterly earnings data 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 firm 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 was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.07 EPS. As a group, sell-side analysts anticipate that Realty Income Corporation will post 4.19 EPS for the current year.

Realty Income Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be issued a dividend of $0.2695 per share. This is an increase from Realty Income's previous monthly dividend of $0.27. The ex-dividend date is Wednesday, October 1st. This represents a c) annualized dividend and a yield of 5.3%. Realty Income's dividend payout ratio is 313.59%.

Wall Street Analyst Weigh In

O has been the topic of several recent research reports. Mizuho raised their target price on shares of Realty Income from $60.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, September 11th. Wolfe Research lowered shares of Realty Income from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Scotiabank raised their target price on shares of Realty Income from $58.00 to $60.00 and gave the company a "sector perform" rating in a research note on Thursday, August 28th. Evercore ISI initiated coverage on shares of Realty Income in a research note on Wednesday. They issued an "in-line" rating and a $62.00 target price on the stock. Finally, Barclays raised their target price on shares of Realty Income from $58.00 to $59.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 20th. Three investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $62.25.

Insider Buying and Selling

In other Realty Income news, Director Mary Hogan Preusse sold 11,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $60.43, for a total transaction of $664,730.00. Following the sale, the director directly owned 19,211 shares in the company, valued at approximately $1,160,920.73. This trade represents a 36.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.10% of the company's stock.

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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