Realty Income Corporation (NYSE:O) Shares Sold by Frank Rimerman Advisors LLC

Key Points

• Frank Rimerman Advisors LLC reduced its stake in Realty Income Corporation by 14.4%, owning 36,274 shares worth $2,104,000 after selling 6,088 shares in the first quarter.
• Realty Income's stock has been rated with eight hold ratings and four buy ratings, with an average target price of $61.36 following recent adjustments by various analysts.
• The company announced a dividend of $0.269 per share, set to be paid on August 15, with a dividend yield of 570.0% and a payout ratio of 293.64%.

Frank Rimerman Advisors LLC cut its stake in shares of Realty Income Corporation (NYSE:O - Free Report) by 14.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,274 shares of the real estate investment trust's stock after selling 6,088 shares during the quarter. Frank Rimerman Advisors LLC's holdings in Realty Income were worth $2,104,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. N.E.W. Advisory Services LLC boosted its position in shares of Realty Income by 1.2% in the 1st quarter. N.E.W. Advisory Services LLC now owns 15,503 shares of the real estate investment trust's stock worth $899,000 after buying an additional 186 shares in the last quarter. Associated Banc Corp boosted its position in shares of Realty Income by 1.9% in the 1st quarter. Associated Banc Corp now owns 10,252 shares of the real estate investment trust's stock worth $595,000 after buying an additional 192 shares in the last quarter. Kentucky Trust Co boosted its position in shares of Realty Income by 2.6% in the 1st quarter. Kentucky Trust Co now owns 9,035 shares of the real estate investment trust's stock worth $524,000 after buying an additional 225 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its position in shares of Realty Income by 1.9% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 12,640 shares of the real estate investment trust's stock worth $675,000 after buying an additional 241 shares in the last quarter. Finally, PSI Advisors LLC boosted its position in shares of Realty Income by 78.3% in 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 in the last quarter. 70.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research 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 on the stock in a research report on Monday, May 5th. Barclays reiterated an "overweight" rating on shares of Realty Income in a research report on Tuesday, April 22nd. Wedbush reiterated a "neutral" rating and issued a $61.00 price objective on shares of Realty Income in a research report on Wednesday, May 7th. Stifel Nicolaus upped their target price on shares of Realty Income from $65.50 to $68.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Finally, UBS Group reduced their target price 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. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $61.36.

Realty Income Trading Up 0.7%

Shares of O stock opened at $57.49 on Friday. The firm has a market cap of $51.92 billion, a P/E ratio of 55.82, a PEG ratio of 4.01 and a beta of 0.76. Realty Income Corporation has a 1-year low of $50.71 and a 1-year high of $64.88. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.85 and a quick ratio of 1.74. The firm's 50-day simple moving average is $57.21 and its 200-day simple moving average is $56.42.

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). The company had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.33 billion. Realty Income had a return on equity of 2.34% and a net margin of 16.77%. The company's revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.07 earnings per share. As a group, equities analysts forecast that Realty Income Corporation will post 4.19 EPS for the current year.

Realty Income Dividend Announcement

The business also recently disclosed a aug 25 dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be issued a dividend of $0.269 per share. This represents a dividend yield of 570.0%. The ex-dividend date is Friday, August 1st. Realty Income's dividend payout ratio is presently 293.64%.

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.

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