Truist Financial Corp Increases Stake in Realty Income Corporation (NYSE:O)

Truist Financial Corp lifted its stake in Realty Income Corporation (NYSE:O - Free Report) by 11.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,038,871 shares of the real estate investment trust's stock after purchasing an additional 108,970 shares during the period. Truist Financial Corp owned about 0.12% of Realty Income worth $60,265,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of O. Brighton Jones LLC increased its holdings 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 buying an additional 615 shares during the last quarter. Assetmark Inc. raised its stake in Realty Income by 14.6% during the fourth quarter. Assetmark Inc. now owns 63,929 shares of the real estate investment trust's stock worth $3,414,000 after acquiring an additional 8,127 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Realty Income in the fourth quarter valued at approximately $5,442,000. Cullen Frost Bankers Inc. increased its stake in shares of Realty Income by 3.6% in the fourth quarter. Cullen Frost Bankers Inc. now owns 10,888 shares of the real estate investment trust's stock valued at $582,000 after purchasing an additional 377 shares during the period. Finally, Callan Family Office LLC acquired a new position in shares of Realty Income during the fourth quarter valued at approximately $204,000. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Realty Income Stock Performance

NYSE:O traded down $0.43 on Wednesday, reaching $57.06. 3,524,665 shares of the company's stock were exchanged, compared to its average volume of 5,243,691. The stock has a fifty day simple moving average of $56.76 and a 200-day simple moving average of $55.82. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.74 and a quick ratio of 1.74. Realty Income Corporation has a 52 week low of $50.71 and a 52 week high of $64.88. The firm has a market cap of $51.53 billion, a price-to-earnings ratio of 51.87, a P/E/G ratio of 4.03 and a beta of 0.75.

Realty Income (NYSE:O - Get Free Report) last issued its earnings results on Monday, May 5th. The real estate investment trust reported $1.06 EPS for the quarter, hitting the consensus estimate of $1.06. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.28 billion. Realty Income had a net margin of 18.15% and a return on equity of 2.51%. The firm's revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.03 earnings per share. As a group, sell-side analysts predict that Realty Income Corporation will post 4.19 earnings per share for the current year.

Realty Income Announces Dividend

The business also recently disclosed a aug 25 dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be paid a dividend of $0.269 per share. Realty Income's dividend payout ratio (DPR) is presently 292.73%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Realty Income from $64.00 to $61.00 and set a "neutral" rating for the company in a research note on Monday, May 5th. Mizuho lifted their target price on shares of Realty Income from $54.00 to $59.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. UBS Group dropped their price objective on shares of Realty Income from $64.00 to $62.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Scotiabank upped their price objective on shares of Realty Income from $57.00 to $58.00 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. Finally, Wedbush reaffirmed a "neutral" rating and issued a $61.00 target price on shares of Realty Income in a research note on Wednesday, May 7th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Realty Income has an average rating of "Hold" and a consensus target price of $61.15.

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.