Illinois Municipal Retirement Fund Sells 58,496 Shares of Realty Income Corporation $O

Key Points

• Illinois Municipal Retirement Fund cut its stake in Realty Income by 24.5% in the first quarter, selling 58,496 shares and leaving it with 180,166 shares valued at about $11.0 million.
• Realty Income reported better-than-expected Q1 earnings, posting $1.13 EPS versus the $1.10 estimate and revenue of $1.55 billion, up 12.2% year over year.
• The REIT also announced a monthly dividend of $0.271 per share, implying a 4.9% annualized yield, while analysts remain mixed with a consensus rating of Hold and an average price target of $67.17.

Illinois Municipal Retirement Fund lowered its position in shares of Realty Income Corporation (NYSE:O - Free Report) by 24.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 180,166 shares of the real estate investment trust's stock after selling 58,496 shares during the period. Illinois Municipal Retirement Fund's holdings in Realty Income were worth $11,023,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. DGS Capital Management LLC increased its position in shares of Realty Income by 4.3% in the fourth quarter. DGS Capital Management LLC now owns 3,836 shares of the real estate investment trust's stock valued at $216,000 after acquiring an additional 158 shares during the period. Patrick M Sweeney & Associates Inc. boosted its holdings in shares of Realty Income by 4.5% during the fourth quarter. Patrick M Sweeney & Associates Inc. now owns 3,801 shares of the real estate investment trust's stock worth $214,000 after purchasing an additional 164 shares during the period. CYBER HORNET ETFs LLC boosted its holdings in shares of Realty Income by 7.4% during the fourth quarter. CYBER HORNET ETFs LLC now owns 2,417 shares of the real estate investment trust's stock worth $136,000 after purchasing an additional 166 shares during the period. Sage Private Wealth Group LLC grew its stake in shares of Realty Income by 2.2% in the fourth quarter. Sage Private Wealth Group LLC now owns 7,844 shares of the real estate investment trust's stock worth $442,000 after purchasing an additional 170 shares during the last quarter. Finally, Trust Investment Advisors grew its stake in shares of Realty Income by 0.8% in the fourth quarter. Trust Investment Advisors now owns 23,266 shares of the real estate investment trust's stock worth $1,311,000 after purchasing an additional 178 shares during the last quarter. Institutional investors own 70.81% of the company's stock.

Realty Income Price Performance

Shares of NYSE O opened at $65.72 on Friday. Realty Income Corporation has a 1 year low of $55.86 and a 1 year high of $67.93. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.56 and a quick ratio of 1.56. The company's 50-day moving average is $62.05 and its 200 day moving average is $62.39. The stock has a market capitalization of $61.28 billion, a P/E ratio of 53.87, a P/E/G ratio of 4.93 and a beta of 0.72.

Realty Income (NYSE:O - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $1.13 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 business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the business posted $1.06 earnings per share. Realty Income's quarterly revenue was up 12.2% compared to the same quarter last year. Realty Income has set its FY 2026 guidance at 4.410-4.440 EPS. On average, sell-side analysts expect that Realty Income Corporation will post 4.45 earnings per share for the current year.

Realty Income Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a $0.271 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 4.9%. Realty Income's dividend payout ratio is currently 266.39%.

Analyst Ratings Changes

A number of brokerages recently issued reports on O. Jefferies Financial Group initiated coverage on Realty Income in a report on Monday, June 1st. They set a "buy" rating and a $69.00 price target on the stock. Freedom Capital upgraded Realty Income from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 11th. Stifel Nicolaus set a $70.75 price objective on Realty Income in a research report on Tuesday, June 30th. Morgan Stanley set a $67.00 target price on Realty Income in a research note on Monday, April 27th. Finally, Mizuho decreased their target price on Realty Income from $68.00 to $66.00 and set a "neutral" rating for the company in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Realty Income presently has a consensus rating of "Hold" and an average target price of $67.17.

Key Headlines Impacting Realty Income

Here are the key news stories impacting Realty Income this week:

• Positive Sentiment: Cooling inflation is helping boost sentiment toward Realty Income, a rate-sensitive REIT, because lower inflation can reduce pressure on interest rates and improve the appeal of dividend-paying real estate stocks. Realty Income Is the Dividend Stock I'd Buy as Cooling Inflation Turns Into a Tailwind
• Positive Sentiment: Huntington initiated coverage on Realty Income with an outperform rating and a $70 price target, signaling confidence that the stock can rally further from recent levels. Realty Income NYSE: O Now Covered by Analysts at Huntington
• Positive Sentiment: Wells Fargo raised its price target on Realty Income to $65, reflecting continued analyst support even though the firm kept an equal weight rating. Realty Income price target raised by Wells Fargo
• Neutral Sentiment: Additional articles highlighted Realty Income as a reliable dividend stock and one of the safer ultra-high-yield income names, which reinforces its defensive income-investor appeal but does not add a new catalyst. There Are 300 Ultra-High-Yield Dividend Stocks on Wall Street -- but These 2 Are Arguably the Safest of the Bunch
• Neutral Sentiment: Market commentary also pointed to Realty Income as a beneficiary of the June CPI report, since cooler inflation could make rate cuts more likely and support REIT valuations. CPI Comes In Cool: Why It Could Revive These 3 Rate-Sensitive Stocks (O)

Realty Income 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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