Vest Financial LLC Trims Stake in Realty Income Corporation $O

Key Points

• Vest Financial LLC reduced its stake in Realty Income Corporation by 8.8%, owning 920,171 shares valued at approximately $53 million after selling 88,716 shares in the second quarter.
• Realty Income announced a monthly dividend of $0.2695, an increase from its previous amount, with an annualized yield of 5.6% set to be paid on October 15th.
• Wall Street analysts maintain a consensus rating of "Hold" on Realty Income stock, with an average price target of $62.25.

Vest Financial LLC lowered its stake in Realty Income Corporation (NYSE:O - Free Report) by 8.8% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 920,171 shares of the real estate investment trust's stock after selling 88,716 shares during the quarter. Vest Financial LLC owned approximately 0.10% of Realty Income worth $53,011,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of O. Griffin Asset Management Inc. lifted its stake in shares of Realty Income by 34.1% during the 2nd quarter. Griffin Asset Management Inc. now owns 9,112 shares of the real estate investment trust's stock worth $525,000 after purchasing an additional 2,316 shares during the period. MGO One Seven LLC lifted its stake in shares of Realty Income by 1.9% during the 2nd quarter. MGO One Seven LLC now owns 46,888 shares of the real estate investment trust's stock worth $2,701,000 after purchasing an additional 879 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Realty Income by 2.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 40,498 shares of the real estate investment trust's stock worth $2,341,000 after purchasing an additional 874 shares during the period. Ellis Investment Partners LLC lifted its stake in shares of Realty Income by 11.5% during the 2nd quarter. Ellis Investment Partners LLC now owns 7,182 shares of the real estate investment trust's stock worth $414,000 after purchasing an additional 743 shares during the period. Finally, CWM LLC lifted its stake in shares of Realty Income by 9.6% during the 2nd quarter. CWM LLC now owns 150,855 shares of the real estate investment trust's stock worth $8,691,000 after purchasing an additional 13,170 shares during the period. Hedge funds and other institutional investors own 70.81% of the company's stock.

Realty Income Stock Down 0.7%

Shares of NYSE O opened at $58.26 on Monday. Realty Income Corporation has a 12-month low of $50.71 and a 12-month high of $64.88. The company has a market cap of $53.27 billion, a P/E ratio of 56.56, a P/E/G ratio of 4.45 and a beta of 0.78. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.72. The stock has a fifty day moving average price of $58.96 and a 200 day moving average price of $57.48.

Realty Income (NYSE:O - Get Free Report) last announced 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). Realty Income had a net margin of 16.77% and a return on equity of 2.34%. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the prior year, the company posted $1.07 earnings per share. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. Research analysts anticipate that Realty Income Corporation will post 4.19 EPS for the current fiscal year.

Realty Income Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be issued a $0.2695 dividend. The ex-dividend date is Wednesday, October 1st. This represents a c) annualized dividend and a yield of 5.6%. This is an increase from Realty Income's previous monthly dividend of $0.27. Realty Income's payout ratio is currently 313.59%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on O. Cantor Fitzgerald began coverage on Realty Income in a research note on Wednesday, October 1st. They set a "neutral" rating and a $64.00 price target on the stock. Mizuho increased their price target on Realty Income from $60.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, September 11th. Scotiabank increased their target price on Realty Income from $58.00 to $60.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 28th. Barclays increased their target price on Realty Income from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 20th. Finally, Evercore ISI initiated coverage on Realty Income in a research report on Wednesday, October 1st. They issued an "in-line" rating and a $62.00 target price on the stock. Three analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $62.25.

Insider Transactions at Realty Income

In related news, Director Mary Hogan Preusse sold 11,000 shares of the stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $60.43, for a total value of $664,730.00. Following the completion of the sale, the director directly owned 19,211 shares in the company, valued at approximately $1,160,920.73. This represents a 36.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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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