The Manufacturers Life Insurance Company Sells 28,152 Shares of Realty Income Corporation $O

Key Points

• The Manufacturers Life Insurance Company cut its Realty Income stake by 5.1%, selling 28,152 shares and retaining 522,291 shares valued at approximately $32.4 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 $67.23, despite several recent target-price reductions.
• Realty Income reported quarterly revenue of $1.55 billion and EPS of $1.09, while increasing its monthly dividend to $0.2715 per share, representing an indicated yield of about 5.5%.

The Manufacturers Life Insurance Company reduced its position in shares of Realty Income Corporation (NYSE:O - Free Report) by 5.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 522,291 shares of the real estate investment trust's stock after selling 28,152 shares during the period. The Manufacturers Life Insurance Company owned about 0.06% of Realty Income worth $32,361,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of O. BlackRock Inc. acquired a new position in Realty Income during the 2nd quarter worth approximately $6,997,219,000. California State Teachers Retirement System raised its holdings in shares of Realty Income by 6,132.2% in the second quarter. California State Teachers Retirement System now owns 94,014,077 shares of the real estate investment trust's stock valued at $5,825,112,000 after purchasing an additional 92,505,556 shares during the last quarter. State Street Corp raised its holdings in shares of Realty Income by 0.8% in the fourth quarter. State Street Corp now owns 63,559,987 shares of the real estate investment trust's stock valued at $3,599,676,000 after purchasing an additional 531,095 shares during the last quarter. Geode Capital Management LLC lifted 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 purchasing an additional 793,100 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Realty Income by 10.3% during 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 purchasing an additional 1,785,859 shares during the last quarter. 70.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

O has been the subject of a number of analyst reports. Huntington initiated coverage on shares of Realty Income in a research report on Wednesday, July 15th. They issued an "outperform" rating and a $70.00 target price for the company. Robert W. Baird increased their price objective on shares of Realty Income from $64.00 to $65.00 and gave the stock a "neutral" rating in a research note on Monday, July 6th. Barclays reduced their price objective on shares of Realty Income from $67.00 to $65.00 and set an "equal weight" rating for the company in a research note on Friday, September 4th. Weiss Ratings raised Realty Income from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, August 20th. Finally, Scotiabank lowered their target price on Realty Income from $72.00 to $67.00 and set a "sector outperform" rating on the stock in a research report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $67.23.

Realty Income Stock Performance

Shares of O stock opened at $59.52 on Friday. The stock has a market cap of $56.32 billion, a P/E ratio of 43.44, a P/E/G ratio of 4.23 and a beta of 0.71. The company has a debt-to-equity ratio of 0.73, a current ratio of 5.88 and a quick ratio of 5.88. The company has a fifty day moving average price of $63.01 and a two-hundred day moving average price of $62.87. Realty Income Corporation has a one year low of $55.86 and a one 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 EPS for the quarter, meeting analysts' consensus estimates of $1.09. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.40 billion. Realty Income had a net margin of 20.93% and a return on equity of 3.12%. The company's quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.05 EPS. Realty Income has set its FY 2026 guidance at 4.440-4.450 EPS. As a group, equities analysts predict that Realty Income Corporation will post 4.42 EPS for the current year.

Realty Income Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a $0.2715 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This is a positive change from Realty Income's previous monthly dividend of $0.27. This represents a c) dividend on an annualized basis and a dividend yield of 5.5%. Realty Income's payout ratio is 237.23%.

About Realty Income

Realty Income Corporation is a real estate investment trust (REIT) that owns and manages a diversified portfolio of commercial properties. The company primarily uses long-term, single-tenant, net lease agreements, under which tenants generally assume responsibility for property-level expenses such as maintenance, insurance and taxes.

Its portfolio includes retail, industrial, distribution, office, gaming and other commercial properties. Realty Income serves a broad range of tenants, including convenience stores, grocery stores, pharmacies, home improvement retailers, restaurants, logistics operators and other established businesses.

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