Realty Income Corporation $O Shares Sold by Synergy Asset Management LLC

Key Points

• Synergy Asset Management LLC cut its holdings in Realty Income Corporation by 41.5% in the second quarter, now owning 64,848 shares valued at $3.736 million.
• Realty Income has increased its monthly dividend to $0.2695 per share, offering a yield of 5.4%, with a dividend payout ratio of 313.59%.
• Realty Income's quarterly earnings report showed earnings per share of $1.05, slightly below the consensus estimate, with revenue of $1.34 billion reflecting a 5.3% year-over-year growth.

Synergy Asset Management LLC decreased its holdings in shares of Realty Income Corporation (NYSE:O - Free Report) by 41.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,848 shares of the real estate investment trust's stock after selling 46,039 shares during the quarter. Synergy Asset Management LLC's holdings in Realty Income were worth $3,736,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Revisor Wealth Management LLC increased its stake in shares of Realty Income by 2.3% in the second quarter. Revisor Wealth Management LLC now owns 7,935 shares of the real estate investment trust's stock valued at $454,000 after purchasing an additional 178 shares during the period. Pure Financial Advisors LLC increased its stake in shares of Realty Income by 3.5% in the second quarter. Pure Financial Advisors LLC now owns 5,519 shares of the real estate investment trust's stock valued at $318,000 after purchasing an additional 185 shares during the period. N.E.W. Advisory Services LLC increased its stake in shares of Realty Income by 1.2% in the first quarter. N.E.W. Advisory Services LLC now owns 15,503 shares of the real estate investment trust's stock valued at $899,000 after purchasing an additional 186 shares during the period. RB Capital Management LLC increased its stake in shares of Realty Income by 1.1% in the second quarter. RB Capital Management LLC now owns 16,596 shares of the real estate investment trust's stock valued at $956,000 after purchasing an additional 187 shares during the period. Finally, Associated Banc Corp increased its stake in shares of Realty Income by 1.9% in the first quarter. Associated Banc Corp now owns 10,252 shares of the real estate investment trust's stock valued at $595,000 after purchasing an additional 192 shares during the period. Institutional investors and hedge funds own 70.81% of the company's stock.

Realty Income Trading Down 0.6%

Realty Income stock opened at $60.08 on Friday. The stock has a market capitalization of $54.93 billion, a PE ratio of 58.33, a price-to-earnings-growth ratio of 4.62 and a beta of 0.78. Realty Income Corporation has a 12-month low of $50.71 and a 12-month 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 1.85. The firm has a 50 day simple moving average of $58.68 and a 200-day simple moving average of $57.34.

Realty Income (NYSE:O - Get Free Report) last posted its quarterly 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). The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.33 billion. Realty Income had a return on equity of 2.34% and a net margin of 16.77%.The company's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.07 EPS. As a group, equities research analysts expect that Realty Income Corporation will post 4.19 EPS for the current fiscal year.

Realty Income Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given a $0.2695 dividend. This represents a c) annualized dividend and a yield of 5.4%. This is a positive change from Realty Income's previous monthly dividend of $0.27. The ex-dividend date is Wednesday, October 1st. Realty Income's dividend payout ratio (DPR) is presently 313.59%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on O. Scotiabank raised their price target on shares of Realty Income from $58.00 to $60.00 and gave the company a "sector perform" rating in a research note on Thursday, August 28th. Mizuho raised their price target on shares of Realty Income from $60.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, September 11th. Barclays increased their price objective on shares of Realty Income from $58.00 to $59.00 and gave the company an "equal weight" rating in a report on Wednesday, August 20th. Evercore ISI initiated coverage on shares of Realty Income in a report on Wednesday. They issued an "in-line" rating and a $62.00 price objective for the company. Finally, Cantor Fitzgerald initiated coverage on shares of Realty Income in a report on Wednesday. They issued a "neutral" rating and a $64.00 price objective for the company. Three analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $62.25.

Insider Transactions at Realty Income

In other Realty Income news, Director Mary Hogan Preusse sold 11,000 shares of Realty Income stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $60.43, for a total value of $664,730.00. Following the transaction, the director owned 19,211 shares in the company, valued at approximately $1,160,920.73. The trade was a 36.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.10% of the company's stock.

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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