Realty Income Corporation $O Shares Sold by Parnassus Investments LLC

Key Points

• Parnassus Investments LLC reduced its stake in Realty Income Corporation by 16.2% during the 1st quarter, now owning approximately 2.7% of the company's shares, valued at around $1.1 billion.
• Realty Income recently announced an increase in its monthly dividend to $0.269 per share, with a current dividend yield of 5.6%, set for payment on September 15th.
• Analysts' ratings for Realty Income vary, with estimates placing the consensus target price at $62.00, reflecting a mix of "buy" and "hold" ratings from different firms.

Parnassus Investments LLC lessened its position in shares of Realty Income Corporation (NYSE:O - Free Report) by 16.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,022,589 shares of the real estate investment trust's stock after selling 3,673,673 shares during the quarter. Realty Income makes up about 2.7% of Parnassus Investments LLC's holdings, making the stock its 9th largest position. Parnassus Investments LLC owned about 2.11% of Realty Income worth $1,103,500,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Callodine Capital Management LP acquired a new position in shares of Realty Income during the 1st quarter worth $15,373,000. Truvestments Capital LLC raised its stake in shares of Realty Income by 765.3% during the 1st quarter. Truvestments Capital LLC now owns 60,465 shares of the real estate investment trust's stock worth $3,508,000 after buying an additional 53,477 shares during the last quarter. Wealth Preservation Advisors LLC acquired a new position in shares of Realty Income during the 1st quarter worth $122,000. Ieq Capital LLC raised its stake in shares of Realty Income by 24.9% during the 1st quarter. Ieq Capital LLC now owns 38,098 shares of the real estate investment trust's stock worth $2,210,000 after buying an additional 7,586 shares during the last quarter. Finally, CreativeOne Wealth LLC raised its stake in shares of Realty Income by 40.2% during the 1st quarter. CreativeOne Wealth LLC now owns 49,824 shares of the real estate investment trust's stock worth $2,890,000 after buying an additional 14,296 shares during the last quarter. Institutional investors and hedge funds own 70.81% of the company's stock.

Realty Income Trading Down 0.8%

Shares of O stock opened at $58.10 on Friday. The firm has a 50-day moving average price of $57.61 and a 200 day moving average price of $56.81. Realty Income Corporation has a twelve month low of $50.71 and a twelve month high of $64.88. The company has a market capitalization of $53.12 billion, a price-to-earnings ratio of 56.41, a PEG ratio of 4.48 and a beta of 0.76. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.72.

Realty Income (NYSE:O - Get Free Report) last announced its earnings results 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 firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the firm posted $1.07 EPS. The company's revenue for the quarter was up 5.3% compared to the same quarter last year. Research analysts forecast that Realty Income Corporation will post 4.19 earnings per share for the current fiscal year.

Realty Income Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.269 per share. The ex-dividend date of this dividend 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 is currently 313.59%.

Analyst Ratings Changes

Several research analysts have recently issued reports on O shares. Scotiabank lifted their price target on Realty Income from $58.00 to $60.00 and gave the stock a "sector perform" rating in a research note on Thursday. UBS Group boosted their target price on shares of Realty Income from $62.00 to $66.00 and gave the company a "buy" rating in a research note on Friday, August 15th. Wedbush reissued a "neutral" rating and issued a $61.00 target price on shares of Realty Income in a research note on Wednesday, May 7th. JPMorgan Chase & Co. cut their target price 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. Finally, Wolfe Research downgraded shares of Realty Income from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Three research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Realty Income presently has a consensus rating of "Hold" and a consensus target price of $62.00.

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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