Realty Income Co. (NYSE:O) Shares Purchased by State of Michigan Retirement System

State of Michigan Retirement System raised its position in Realty Income Co. (NYSE:O) by 4.7% in the second quarter, Holdings Channel reports. The institutional investor owned 238,448 shares of the real estate investment trust’s stock after purchasing an additional 10,600 shares during the period. State of Michigan Retirement System’s holdings in Realty Income were worth $12,595,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of O. Trust Co. of Virginia VA increased its stake in Realty Income by 1.3% during the 2nd quarter. Trust Co. of Virginia VA now owns 104,152 shares of the real estate investment trust’s stock worth $5,501,000 after buying an additional 1,300 shares in the last quarter. Alpha Omega Wealth Management LLC lifted its holdings in Realty Income by 0.8% in the 2nd quarter. Alpha Omega Wealth Management LLC now owns 94,169 shares of the real estate investment trust’s stock valued at $4,974,000 after purchasing an additional 712 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of Realty Income by 46.5% during the second quarter. Verdence Capital Advisors LLC now owns 20,723 shares of the real estate investment trust’s stock worth $1,095,000 after buying an additional 6,574 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Realty Income by 1.9% during the second quarter. Bank of New York Mellon Corp now owns 6,134,407 shares of the real estate investment trust’s stock worth $324,019,000 after buying an additional 116,789 shares in the last quarter. Finally, New Millennium Group LLC acquired a new stake in shares of Realty Income in the second quarter valued at about $82,000. Institutional investors and hedge funds own 70.81% of the company’s stock.

Realty Income Stock Down 0.2 %

Shares of NYSE O opened at $61.64 on Tuesday. Realty Income Co. has a 12-month low of $45.03 and a 12-month high of $61.99. The stock has a market cap of $53.67 billion, a P/E ratio of 57.19, a PEG ratio of 5.05 and a beta of 0.96. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.65. The business’s fifty day simple moving average is $56.82 and its 200-day simple moving average is $54.39.

Realty Income (NYSE:O) last announced its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.07). Realty Income had a net margin of 17.74% and a return on equity of 3.26%. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the business posted $1.00 EPS. The business’s quarterly revenue was up 31.4% compared to the same quarter last year. As a group, equities analysts predict that Realty Income Co. will post 4.2 EPS for the current fiscal year.

Realty Income Announces Dividend

The company also recently declared a sep 24 dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.263 per share. This represents a yield of 5.2%. The ex-dividend date of this dividend is Tuesday, September 3rd. Realty Income’s dividend payout ratio (DPR) is presently 291.67%.

Analyst Ratings Changes

A number of research firms have weighed in on O. Wells Fargo & Company raised their target price on shares of Realty Income from $57.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Monday. Morgan Stanley reissued an “equal weight” rating and issued a $62.00 price objective on shares of Realty Income in a report on Tuesday, August 6th. Wedbush initiated coverage on shares of Realty Income in a report on Monday, August 19th. They set a “neutral” rating and a $64.00 price target for the company. Royal Bank of Canada upped their price objective on Realty Income from $58.00 to $64.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, Robert W. Baird raised their target price on Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $62.27.

Insider Buying and Selling at Realty Income

In related news, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $60.77, for a total value of $303,850.00. Following the transaction, the director now owns 5,257 shares of the company’s stock, valued at $319,467.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.10% of the company’s stock.

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.