Parallel Advisors LLC Trims Holdings in Realty Income Corporation $O

Key Points

• Parallel Advisors LLC cut its Realty Income stake by 41% in the fourth quarter, leaving it with 81,584 shares valued at about $4.6 million.
• Realty Income reported better-than-expected Q1 earnings of $1.13 per share on revenue of $1.55 billion, and it raised its full-year guidance to 4.41–4.44 EPS.
• The REIT announced a monthly dividend of $0.2705 per share, with a current yield of about 5.3%; analysts currently have an overall Hold consensus with a $67.46 target price.

Parallel Advisors LLC trimmed its position in Realty Income Corporation (NYSE:O - Free Report) by 41.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,584 shares of the real estate investment trust's stock after selling 56,785 shares during the quarter. Parallel Advisors LLC's holdings in Realty Income were worth $4,599,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. J.W. Cole Advisors Inc. raised its holdings in Realty Income by 3.8% during the fourth quarter. J.W. Cole Advisors Inc. now owns 114,146 shares of the real estate investment trust's stock valued at $6,345,000 after acquiring an additional 4,158 shares during the period. Prudential PLC raised its holdings in Realty Income by 62.3% during the fourth quarter. Prudential PLC now owns 33,369 shares of the real estate investment trust's stock valued at $1,881,000 after acquiring an additional 12,813 shares during the period. Convergence Financial LLC raised its holdings in Realty Income by 0.9% during the fourth quarter. Convergence Financial LLC now owns 20,858 shares of the real estate investment trust's stock valued at $1,176,000 after acquiring an additional 185 shares during the period. Vise Technologies Inc. raised its holdings in Realty Income by 277.8% during the fourth quarter. Vise Technologies Inc. now owns 26,456 shares of the real estate investment trust's stock valued at $1,491,000 after acquiring an additional 19,453 shares during the period. Finally, TD Asset Management Inc raised its holdings in Realty Income by 2.6% during the fourth quarter. TD Asset Management Inc now owns 453,766 shares of the real estate investment trust's stock valued at $25,579,000 after acquiring an additional 11,486 shares during the period. 70.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Michelle Bushore sold 7,400 shares of Realty Income stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $62.42, for a total value of $461,908.00. Following the sale, the insider directly owned 67,641 shares of the company's stock, valued at approximately $4,222,151.22. The trade was a 9.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.10% of the company's stock.

Realty Income Trading Up 1.9%

Shares of O stock opened at $60.90 on Friday. Realty Income Corporation has a 12-month low of $55.60 and a 12-month high of $67.93. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.72. The stock's 50-day moving average price is $62.38 and its 200-day moving average price is $61.27. The stock has a market capitalization of $56.79 billion, a price-to-earnings ratio of 49.92, a price-to-earnings-growth ratio of 4.67 and a beta 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 return on equity of 2.80% and a net margin of 18.94%.The firm had revenue of $1.55 billion for the quarter, compared to analysts' expectations of $1.39 billion. During the same period in the previous year, the firm posted $1.06 earnings per share. The business's 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. Equities research analysts predict that Realty Income Corporation will post 4.44 EPS for the current fiscal year.

Realty Income Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be issued a $0.2705 dividend. This represents a c) annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Friday, May 29th. Realty Income's payout ratio is 266.39%.

Analyst Upgrades and Downgrades

O has been the topic of a number of recent analyst reports. Cantor Fitzgerald raised their price target on Realty Income from $60.00 to $68.00 and gave the company a "neutral" rating in a report on Friday, February 27th. Barclays raised their price target on Realty Income from $65.00 to $68.00 and gave the company an "equal weight" rating in a report on Tuesday, April 21st. Morgan Stanley set a $67.00 price target on Realty Income in a report on Monday, April 27th. Jefferies Financial Group began coverage on shares of Realty Income in a research report on Monday. They set a "buy" rating and a $69.00 target price for the company. Finally, Mizuho dropped their target price on shares of Realty Income from $68.00 to $66.00 and set a "neutral" rating for the company in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $67.46.

About Realty Income

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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