Rafferty Asset Management LLC Decreases Stock Holdings in Realty Income Corporation $O

Key Points

• Rafferty Asset Management LLC has reduced its stake in Realty Income Corporation by 17.1%, owning 95,425 shares valued at approximately $5.54 million as of the last SEC filing.
• Realty Income's dividend was recently increased to $0.269 per month, yielding 5.6%, with the next payment scheduled for September 15th for stockholders of record on September 2nd.
• Various institutional investors, including Norinchukin Bank and Victory Capital Management, have modified their positions in Realty Income, with some increasing their stakes, highlighting ongoing interest in the company.

Rafferty Asset Management LLC decreased its holdings in shares of Realty Income Corporation (NYSE:O - Free Report) by 17.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 95,425 shares of the real estate investment trust's stock after selling 19,744 shares during the quarter. Rafferty Asset Management LLC's holdings in Realty Income were worth $5,536,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norinchukin Bank The raised its stake in shares of Realty Income by 9.7% in the first quarter. Norinchukin Bank The now owns 84,968 shares of the real estate investment trust's stock valued at $4,929,000 after acquiring an additional 7,497 shares during the period. Victory Capital Management Inc. raised its stake in shares of Realty Income by 5.3% in the first quarter. Victory Capital Management Inc. now owns 396,798 shares of the real estate investment trust's stock valued at $23,018,000 after acquiring an additional 19,965 shares during the period. Community Bank of Raymore raised its stake in shares of Realty Income by 19.7% in the first quarter. Community Bank of Raymore now owns 148,864 shares of the real estate investment trust's stock valued at $8,636,000 after acquiring an additional 24,467 shares during the period. Venture Visionary Partners LLC raised its stake in shares of Realty Income by 6.2% in the first quarter. Venture Visionary Partners LLC now owns 142,496 shares of the real estate investment trust's stock valued at $8,266,000 after acquiring an additional 8,297 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Realty Income by 0.4% in the first quarter. Invesco Ltd. now owns 11,421,973 shares of the real estate investment trust's stock valued at $662,589,000 after acquiring an additional 48,024 shares during the period. Hedge funds and other institutional investors own 70.81% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on O. JPMorgan Chase & Co. reduced their target price on shares of Realty Income from $64.00 to $61.00 and set a "neutral" rating on the stock in a research note on Monday, May 5th. Stifel Nicolaus increased their target price on shares of Realty Income from $65.50 to $68.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Scotiabank upped their price target on shares of Realty Income from $58.00 to $60.00 and gave the stock a "sector perform" rating in a report on Thursday. Wedbush restated a "neutral" rating and issued a $61.00 price target on shares of Realty Income in a report on Wednesday, May 7th. Finally, Barclays upped their price target on shares of Realty Income from $58.00 to $59.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 20th. Three research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $62.00.

Realty Income Trading Down 0.8%

NYSE O opened at $58.10 on Friday. The company's 50-day moving average price is $57.61 and its 200-day moving average price is $56.81. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.72. The stock has a market cap of $53.12 billion, a PE ratio of 56.41, a PEG ratio of 4.48 and a beta of 0.76. Realty Income Corporation has a 12 month low of $50.71 and a 12 month high of $64.88.

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

Realty Income Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a $0.269 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 5.6%. This is an increase from Realty Income's previous monthly dividend of $0.26. Realty Income's dividend payout ratio (DPR) is 313.59%.

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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