Realty Income Corporation $O Shares Bought by Empowered Funds LLC

Key Points

• Empowered Funds LLC increased its Realty Income stake by 89.6% in the second quarter, bringing its holdings to 58,018 shares valued at approximately $3.6 million. Institutional investors collectively own 70.81% of the REIT.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $67.36, compared with shares opening at $61.30.
• Realty Income reported quarterly revenue of $1.55 billion, up 9.7% year over year, while meeting earnings expectations at $1.09 per share. The company declared a monthly dividend of $0.271 per share, representing a yield of about 5.3%, though its high payout ratio and sensitivity to rising rates remain concerns.

Empowered Funds LLC grew its holdings in Realty Income Corporation (NYSE:O - Free Report) by 89.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 58,018 shares of the real estate investment trust's stock after acquiring an additional 27,417 shares during the period. Empowered Funds LLC's holdings in Realty Income were worth $3,595,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. acquired a new stake in Realty Income in the 2nd quarter valued at $6,997,219,000. State Street Corp lifted its stake in shares of Realty Income by 0.8% during the fourth quarter. State Street Corp now owns 63,559,987 shares of the real estate investment trust's stock worth $3,599,676,000 after purchasing an additional 531,095 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Realty Income by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 29,206,196 shares of the real estate investment trust's stock worth $1,655,991,000 after buying an additional 793,100 shares during the period. Bank of America Corp DE boosted its position in shares of Realty Income by 10.3% in the second quarter. Bank of America Corp DE now owns 19,117,994 shares of the real estate investment trust's stock worth $1,184,551,000 after buying an additional 1,785,859 shares during the period. Finally, Morgan Stanley grew its stake in shares of Realty Income by 21.6% in the fourth quarter. Morgan Stanley now owns 18,291,294 shares of the real estate investment trust's stock valued at $1,031,080,000 after buying an additional 3,252,091 shares in the last quarter. Institutional investors and hedge funds own 70.81% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on O shares. Robert W. Baird raised their target price on Realty Income from $64.00 to $65.00 and gave the company a "neutral" rating in a report on Monday, July 6th. Mizuho dropped their price objective on shares of Realty Income from $68.00 to $66.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 13th. Stifel Nicolaus set a $70.75 price objective on shares of Realty Income in a research note on Tuesday, June 30th. Huntington assumed coverage on shares of Realty Income in a research report on Wednesday, July 15th. They set an "outperform" rating and a $70.00 target price on the stock. Finally, Barclays decreased their target price on shares of Realty Income from $68.00 to $67.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $67.36.

Key Realty Income News

Here are the key news stories impacting Realty Income this week:

• Positive Sentiment: Realty Income’s reputation as a long-term income holding remains a key support. Commentary highlighted that the REIT has increased its dividend every year since its 1994 IPO, reinforcing its appeal to investors seeking recurring monthly cash flow and long-term dividend growth. Realty Income Has Raised Its Dividend Every Year Since Its 1994 IPO
• Positive Sentiment: Realty Income was included among REITs viewed as having dividends capable of weathering difficult markets, a favorable signal for shareholders concerned about distribution stability during economic or interest-rate volatility. 4 Legendary REITs With Dividends Built to Weather Every Market Storm
• Positive Sentiment: A valuation analysis argued that Realty Income may be trading below its estimated fair value, potentially offering upside if the company’s stable income stream and recent operating performance continue to support investor confidence. Realty Income Stock Looks Cheap Relative to Fair Value
• Neutral Sentiment: The company amended term-loan agreements with Wells Fargo and Toronto-Dominion covering up to $1.85 billion. Aligning the facilities with a recently closed credit agreement could provide funding flexibility for acquisitions and growth, although it also keeps leverage and borrowing costs in focus. Realty Income Amends Term Loans Covering Up to $1.85 Billion
• Negative Sentiment: Investors continue to face valuation and rate-related concerns: Realty Income’s earnings multiple is elevated, and REITs can be pressured when bond yields rise. The company’s August 31 ex-dividend date also means new buyers will not receive the $0.27-per-share payment scheduled for September 15. Realty Income Corp's Dividend Analysis

Realty Income Stock Performance

Shares of Realty Income stock opened at $61.30 on Wednesday. The firm has a market cap of $58.00 billion, a PE ratio of 44.74, a price-to-earnings-growth ratio of 4.35 and a beta of 0.71. The firm's 50-day simple moving average is $63.32 and its 200-day simple moving average is $63.12. The company has a debt-to-equity ratio of 0.73, a quick ratio of 5.88 and a current ratio of 5.88. Realty Income Corporation has a 1 year low of $55.86 and a 1 year high of $67.93.

Realty Income (NYSE:O - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $1.09 earnings per share for the quarter, meeting the consensus estimate of $1.09. Realty Income had a return on equity of 3.12% and a net margin of 20.93%.The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the company earned $1.05 earnings per share. Realty Income's quarterly revenue was up 9.7% on a year-over-year basis. Realty Income has set its FY 2026 guidance at 4.440-4.450 EPS. Equities analysts forecast that Realty Income Corporation will post 4.43 earnings per share for the current fiscal year.

Realty Income Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a $0.271 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Monday, August 31st. Realty Income's payout ratio is 237.23%.

Realty Income Profile

Realty Income Corporation NYSE: O is a real estate investment trust (REIT) that acquires, owns and manages commercial properties subject primarily to long-term net lease agreements. The company's business model focuses on generating predictable, contractual rental income by leasing properties to tenants under agreements that typically place responsibility for taxes, insurance and maintenance on the tenant. Realty Income is publicly traded on the New York Stock Exchange and markets itself as a reliable income-oriented REIT.

Realty Income's portfolio is concentrated in single-tenant, retail and service-oriented properties such as drugstores, convenience stores, dollar and discount retailers, restaurants, and other essential-service businesses.

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