Prime Capital Investment Advisors LLC Sells 4,677 Shares of Realty Income Corporation $O

Key Points

• Prime Capital Investment Advisors LLC reduced its holdings in Realty Income Corporation by 24.0%, selling 4,677 shares, leaving them with a total of 14,807 shares valued at approximately $853,000.
• Realty Income Corporation announced an increase in its monthly dividend from $0.27 to $0.2695 per share, with the ex-dividend date set for October 1st, representing a yield of 5.5%.
• The company recently reported quarterly earnings with an EPS of $1.05, which was slightly below analysts' expectations of $1.06, while revenue increased by 5.3% year-over-year.

Prime Capital Investment Advisors LLC trimmed its holdings in shares of Realty Income Corporation (NYSE:O - Free Report) by 24.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,807 shares of the real estate investment trust's stock after selling 4,677 shares during the period. Prime Capital Investment Advisors LLC's holdings in Realty Income were worth $853,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of O. Brighton Jones LLC increased its position in shares of Realty Income by 11.2% during the 4th quarter. Brighton Jones LLC now owns 6,101 shares of the real estate investment trust's stock worth $326,000 after purchasing an additional 615 shares during the last quarter. Bison Wealth LLC bought a new position in shares of Realty Income in the fourth quarter valued at $571,000. Wedmont Private Capital grew its stake in shares of Realty Income by 11.6% in the first quarter. Wedmont Private Capital now owns 4,841 shares of the real estate investment trust's stock valued at $267,000 after buying an additional 503 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Realty Income by 230.4% in the first quarter. Farther Finance Advisors LLC now owns 18,145 shares of the real estate investment trust's stock valued at $1,037,000 after buying an additional 12,654 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC lifted its stake in Realty Income by 10.2% in the first quarter. Wealthcare Advisory Partners LLC now owns 22,269 shares of the real estate investment trust's stock valued at $1,292,000 after acquiring an additional 2,066 shares during the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Mary Hogan Preusse sold 11,000 shares of the stock in a transaction on Tuesday, September 30th. The stock was 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 of the company's stock, valued at approximately $1,160,920.73. This represents a 36.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.10% of the stock is currently owned by company insiders.

Realty Income Trading Down 0.6%

O stock opened at $58.67 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.85 and a current ratio of 1.85. The company's 50-day simple moving average is $58.93 and its 200 day simple moving average is $57.45. Realty Income Corporation has a 52 week low of $50.71 and a 52 week high of $64.88. The company has a market capitalization of $53.64 billion, a PE ratio of 56.96, a price-to-earnings-growth ratio of 4.51 and a beta of 0.78.

Realty Income (NYSE:O - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.06 by ($0.01). Realty Income had a net margin of 16.77% and a return on equity of 2.34%. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the firm earned $1.07 EPS. The business's revenue for the quarter was up 5.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Realty Income Corporation will post 4.19 earnings per share for the current year.

Realty Income Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, October 15th. Shareholders 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 is Wednesday, October 1st. This represents a c) dividend on an annualized basis and a yield of 5.5%. Realty Income's dividend payout ratio is 313.59%.

Analyst Upgrades and Downgrades

O has been the topic of a number of research analyst reports. 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. Barclays boosted their price target on Realty Income from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 20th. Wolfe Research downgraded Realty Income from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. Scotiabank lifted their target price on Realty Income from $58.00 to $60.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 28th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Realty Income in a research note on Wednesday. Three analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $62.25.

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.

Want to see what other hedge funds are holding O? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Realty Income Corporation (NYSE:O - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.