Prudential PLC Trims Stock Holdings in Realty Income Corporation (NYSE:O)

Key Points

• Prudential PLC has reduced its stake in Realty Income Corporation by 37.4%, holding 14,103 shares worth approximately $818,000 following the sale of 8,415 shares in the first quarter.
• Realty Income recently reported a quarterly earnings per share of $1.05, slightly missing the consensus estimate, while revenues increased 5.3% year-over-year to $1.34 billion.
• The company announced an increase in its monthly dividend to $0.269 per share, representing an annualized yield of 5.5%, with an ex-dividend date set for September 2nd.

Prudential PLC lowered its position in Realty Income Corporation (NYSE:O - Free Report) by 37.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,103 shares of the real estate investment trust's stock after selling 8,415 shares during the quarter. Prudential PLC's holdings in Realty Income were worth $818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. PSI Advisors LLC grew its position in shares of 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 buying an additional 252 shares during the period. Fourth Dimension Wealth LLC acquired a new stake in shares of Realty Income during the 4th quarter worth approximately $34,000. FSC Wealth Advisors LLC grew its position in Realty Income by 288.0% in the 1st quarter. FSC Wealth Advisors LLC now owns 613 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 455 shares during the period. Orion Capital Management LLC acquired a new stake in Realty Income in the 4th quarter valued at $37,000. Finally, CVA Family Office LLC grew its position in Realty Income by 52.8% in the 1st quarter. CVA Family Office LLC now owns 787 shares of the real estate investment trust's stock valued at $46,000 after purchasing an additional 272 shares during the period. Institutional investors and hedge funds own 70.81% of the company's stock.

Realty Income Price Performance

NYSE:O traded up $0.58 during mid-day trading on Friday, reaching $58.40. The stock had a trading volume of 6,239,469 shares, compared to its average volume of 4,646,010. The firm has a 50 day moving average price of $57.39 and a two-hundred day moving average price of $56.55. The stock has a market capitalization of $53.40 billion, a P/E ratio of 56.70, a P/E/G ratio of 4.47 and a beta of 0.76. Realty Income Corporation has a one year low of $50.71 and a one year high of $64.88. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.85 and a current ratio of 1.85.

Realty Income (NYSE:O - Get Free Report) last announced 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). Realty Income had a net margin of 16.77% and a return on equity of 2.34%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the firm posted $1.07 EPS. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, analysts expect 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 Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a $0.269 dividend. The ex-dividend date is Tuesday, September 2nd. This is an increase from Realty Income's previous monthly dividend of $0.26. This represents a c) annualized dividend and a yield of 5.5%. Realty Income's dividend payout ratio is presently 313.59%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on O. Wolfe Research cut Realty Income from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. lowered their target price on Realty Income from $64.00 to $61.00 and set a "neutral" rating on the stock in a research note on Monday, May 5th. UBS Group lifted their target price on Realty Income from $62.00 to $66.00 and gave the stock a "buy" rating in a research note on Friday. Wedbush reiterated a "neutral" rating and set a $61.00 target price on shares of Realty Income in a research note on Wednesday, May 7th. Finally, Scotiabank lifted their target price on Realty Income from $57.00 to $58.00 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $61.73.

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.