Truist Financial Corp Grows Stock Position in Realty Income Corporation $O

Key Points

• Truist Financial Corp has increased its stake in Realty Income Corporation by 11.1%, owning over 1.15 million shares valued at approximately $66.5 million.
• Realty Income reported a quarterly EPS of $1.05, slightly missing analysts' expectations, but achieved a revenue growth of 5.3% year-over-year with total revenue of $1.34 billion.
• The company announced a monthly dividend increase to $0.2695, reflecting a yield of 5.3%, with the dividend payout ratio at 313.59%.

Truist Financial Corp increased its holdings in Realty Income Corporation (NYSE:O - Free Report) by 11.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,154,612 shares of the real estate investment trust's stock after buying an additional 115,741 shares during the period. Truist Financial Corp owned about 0.13% of Realty Income worth $66,517,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Compagnie Lombard Odier SCmA purchased a new stake in shares of Realty Income in the 2nd quarter worth about $25,000. Keystone Global Partners LLC purchased a new position in Realty Income in the 1st quarter valued at about $26,000. PSI Advisors LLC lifted its holdings in Realty Income by 78.3% in the 1st quarter. PSI Advisors LLC now owns 574 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 252 shares in the last quarter. FSC Wealth Advisors LLC lifted its holdings in Realty Income by 288.0% in the 1st quarter. FSC Wealth Advisors LLC now owns 613 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 455 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC lifted its holdings in Realty Income by 87.6% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 649 shares of the real estate investment trust's stock valued at $38,000 after purchasing an additional 303 shares in the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Realty Income Trading Down 0.4%

NYSE O opened at $60.55 on Thursday. Realty Income Corporation has a one year low of $50.71 and a one year high of $64.88. The company's 50 day moving average price is $58.64 and its 200 day moving average price is $57.32. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a market capitalization of $55.36 billion, a price-to-earnings ratio of 58.78, a PEG ratio of 4.65 and a beta of 0.78.

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 EPS 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 business had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.33 billion. During the same quarter in the previous year, the business posted $1.07 EPS. The company's quarterly revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts predict that Realty Income Corporation will post 4.19 EPS for the current year.

Realty Income Increases Dividend

The company also recently disclosed 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 5.3%. This is a positive change from Realty Income's previous monthly dividend of $0.27. The ex-dividend date of this dividend is Wednesday, October 1st. Realty Income's dividend payout ratio is 313.59%.

Insider Transactions at Realty Income

In other Realty Income news, Director Mary Hogan Preusse sold 11,000 shares of the 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 completion of the sale, the director owned 19,211 shares of the company's stock, valued at $1,160,920.73. This trade represents a 36.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on O. Mizuho upped their target price on shares of Realty Income from $60.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, September 11th. UBS Group upped their target price on shares of Realty Income from $62.00 to $66.00 and gave the company a "buy" rating in a report on Friday, August 15th. Wolfe Research lowered shares of Realty Income from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Evercore ISI started coverage on shares of Realty Income in a report on Wednesday. They issued an "in-line" rating and a $62.00 target price on the stock. Finally, Barclays increased their price objective on shares of Realty Income from $58.00 to $59.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 20th. Three research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $62.25.

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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