Kentucky Retirement Systems Sells 4,949 Shares of Realty Income Co. (NYSE:O)

Kentucky Retirement Systems trimmed its position in shares of Realty Income Co. (NYSE:O) by 7.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 60,669 shares of the real estate investment trust’s stock after selling 4,949 shares during the quarter. Kentucky Retirement Systems’ holdings in Realty Income were worth $3,848,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Raymond James & Associates boosted its holdings in Realty Income by 92.4% in the 3rd quarter. Raymond James & Associates now owns 6,479,542 shares of the real estate investment trust’s stock worth $410,932,000 after buying an additional 3,112,560 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Realty Income by 63.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,610,483 shares of the real estate investment trust’s stock valued at $137,886,000 after purchasing an additional 1,010,876 shares during the period. Cetera Investment Advisers lifted its holdings in Realty Income by 410.7% during the 1st quarter. Cetera Investment Advisers now owns 951,335 shares of the real estate investment trust’s stock worth $51,467,000 after purchasing an additional 765,048 shares in the last quarter. Federated Hermes Inc. boosted its stake in Realty Income by 54.6% in the 2nd quarter. Federated Hermes Inc. now owns 2,140,696 shares of the real estate investment trust’s stock worth $113,072,000 after purchasing an additional 755,987 shares during the period. Finally, Legal & General Group Plc grew its holdings in Realty Income by 4.5% during the 2nd quarter. Legal & General Group Plc now owns 12,258,468 shares of the real estate investment trust’s stock valued at $647,492,000 after buying an additional 531,008 shares in the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director A. Larry Chapman sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $60.77, for a total value of $303,850.00. Following the sale, the director now directly owns 5,257 shares of the company’s stock, valued at $319,467.89. This trade represents a 48.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mary Hogan Preusse sold 1,712 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total value of $107,136.96. Following the transaction, the director now owns 26,579 shares in the company, valued at approximately $1,663,313.82. This represents a 6.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

O has been the subject of a number of analyst reports. Wedbush began coverage on shares of Realty Income in a research report on Monday, August 19th. They issued a “neutral” rating and a $64.00 price objective for the company. Scotiabank boosted their price target on shares of Realty Income from $61.00 to $64.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 17th. Morgan Stanley reiterated an “equal weight” rating and issued a $62.00 price objective on shares of Realty Income in a research report on Tuesday, August 6th. Mizuho cut Realty Income from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $64.00 to $60.00 in a report on Thursday. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $65.00 price objective (up previously from $62.00) on shares of Realty Income in a report on Tuesday, October 1st. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $63.85.

Realty Income Trading Up 0.8 %

Shares of O opened at $56.54 on Friday. Realty Income Co. has a fifty-two week low of $50.65 and a fifty-two week high of $64.88. The firm has a market cap of $49.48 billion, a price-to-earnings ratio of 53.85, a PEG ratio of 3.98 and a beta of 0.99. The firm has a 50 day moving average price of $61.31 and a 200-day moving average price of $58.01. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.40 and a current ratio of 1.40.

Realty Income (NYSE:O) last posted its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.75). Realty Income had a return on equity of 2.35% and a net margin of 17.57%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the firm earned $1.02 earnings per share. The business’s revenue for the quarter was up 28.1% on a year-over-year basis. As a group, equities research analysts forecast that Realty Income Co. will post 4.19 earnings per share for the current year.

Realty Income Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a $0.2635 dividend. This is a boost from Realty Income’s previous monthly dividend of $0.24. This represents a $3.16 dividend on an annualized basis and a yield of 5.59%. The ex-dividend date of this dividend is Monday, December 2nd. Realty Income’s payout ratio is 300.96%.

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.