Realty Income Co. (NYSE:O) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its stake in shares of Realty Income Co. (NYSE:O) by 10.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 823,700 shares of the real estate investment trust’s stock after selling 100,676 shares during the period. Truist Financial Corp’s holdings in Realty Income were worth $47,297,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in O. SVB Wealth LLC boosted its position in shares of Realty Income by 53.8% during the 4th quarter. SVB Wealth LLC now owns 7,656 shares of the real estate investment trust’s stock worth $440,000 after purchasing an additional 2,677 shares during the period. Dynamic Advisor Solutions LLC boosted its position in shares of Realty Income by 82.5% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 11,570 shares of the real estate investment trust’s stock worth $670,000 after buying an additional 5,231 shares during the period. LexAurum Advisors LLC acquired a new position in Realty Income in the 4th quarter valued at about $203,000. Vest Financial LLC increased its stake in Realty Income by 50.3% during the fourth quarter. Vest Financial LLC now owns 540,531 shares of the real estate investment trust’s stock worth $31,037,000 after purchasing an additional 180,974 shares during the period. Finally, Sowell Financial Services LLC lifted its position in shares of Realty Income by 21.0% during the fourth quarter. Sowell Financial Services LLC now owns 21,230 shares of the real estate investment trust’s stock worth $1,224,000 after purchasing an additional 3,681 shares in the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

O has been the topic of several recent research reports. Stifel Nicolaus cut their target price on shares of Realty Income from $67.75 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. Mizuho cut their price objective on Realty Income from $60.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, March 7th. Royal Bank of Canada increased their price objective on Realty Income from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, January 11th. StockNews.com raised Realty Income from a “sell” rating to a “hold” rating in a research note on Thursday, February 8th. Finally, BMO Capital Markets started coverage on Realty Income in a research report on Tuesday, February 13th. They issued a “market perform” rating and a $57.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Realty Income currently has an average rating of “Hold” and a consensus price target of $60.96.

Realty Income Price Performance

Shares of NYSE O opened at $53.71 on Friday. The stock’s 50-day simple moving average is $52.65 and its 200-day simple moving average is $53.50. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market capitalization of $46.25 billion, a PE ratio of 42.63, a price-to-earnings-growth ratio of 5.57 and a beta of 0.92. Realty Income Co. has a fifty-two week low of $45.03 and a fifty-two week high of $64.18.

Realty Income (NYSE:O) last released its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.72). Realty Income had a return on equity of 4.06% and a net margin of 21.39%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the business posted $1.00 EPS. The firm’s revenue for the quarter was up 21.1% compared to the same quarter last year. As a group, equities research analysts forecast that Realty Income Co. will post 4.16 EPS for the current fiscal year.

Realty Income Announces Dividend

The business also recently disclosed a may 24 dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a $0.257 dividend. The ex-dividend date is Tuesday, April 30th. This represents a yield of 5.9%. Realty Income’s dividend payout ratio is presently 244.45%.

Insiders Place Their Bets

In related news, Director A. Larry Chapman sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $54.23, for a total transaction of $271,150.00. Following the transaction, the director now owns 6,257 shares in the company, valued at approximately $339,317.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.