Principal Financial Group Inc. Sells 81,980 Shares of Realty Income Co. (NYSE:O)

Principal Financial Group Inc. reduced its holdings in shares of Realty Income Co. (NYSE:O) by 3.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,116,554 shares of the real estate investment trust’s stock after selling 81,980 shares during the quarter. Principal Financial Group Inc. owned approximately 0.24% of Realty Income worth $111,796,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of O. Vanguard Group Inc. increased its stake in shares of Realty Income by 18.3% during the 1st quarter. Vanguard Group Inc. now owns 134,768,614 shares of the real estate investment trust’s stock worth $7,290,982,000 after purchasing an additional 20,848,560 shares during the last quarter. Norges Bank bought a new stake in shares of Realty Income in the fourth quarter valued at $506,526,000. Cbre Investment Management Listed Real Assets LLC lifted its position in shares of Realty Income by 213.3% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,171,853 shares of the real estate investment trust’s stock valued at $124,708,000 after buying an additional 1,478,577 shares during the last quarter. Raymond James & Associates lifted its position in shares of Realty Income by 76.6% during the 2nd quarter. Raymond James & Associates now owns 3,366,982 shares of the real estate investment trust’s stock valued at $177,844,000 after buying an additional 1,460,884 shares during the last quarter. Finally, GRS Advisors LLC bought a new position in shares of Realty Income during the 4th quarter worth $58,843,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Insider Activity at Realty Income

In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $60.77, for a total transaction of $303,850.00. Following the transaction, the director now owns 5,257 shares in the company, valued at approximately $319,467.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

O has been the subject of several analyst reports. KeyCorp began coverage on shares of Realty Income in a report on Wednesday, June 12th. They issued a “sector weight” rating for the company. Wells Fargo & Company increased their price objective on Realty Income from $57.00 to $62.00 and gave the stock an “equal weight” rating in a report on Monday, August 26th. Stifel Nicolaus increased their price target on shares of Realty Income from $67.50 to $70.25 and gave the stock a “buy” rating in a report on Wednesday. Royal Bank of Canada upped their target price on shares of Realty Income from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, Scotiabank boosted their price target on shares of Realty Income from $56.00 to $61.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Realty Income presently has a consensus rating of “Hold” and a consensus target price of $62.02.

Realty Income Stock Up 1.2 %

Shares of Realty Income stock opened at $62.13 on Friday. The company’s 50 day moving average price is $57.35 and its 200-day moving average price is $54.56. Realty Income Co. has a 52-week low of $45.03 and a 52-week high of $62.41. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.83 and a current ratio of 1.83. The stock has a market capitalization of $54.10 billion, a price-to-earnings ratio of 57.53, a P/E/G ratio of 5.05 and a beta of 0.96.

Realty Income (NYSE:O) last posted its earnings results 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). The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.22 billion. Realty Income had a return on equity of 3.26% and a net margin of 17.74%. The firm’s revenue for the quarter was up 31.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.00 earnings per share. Equities research analysts forecast that Realty Income Co. will post 4.2 EPS for the current year.

Realty Income Dividend Announcement

The business also recently announced a sep 24 dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.263 per share. This represents a dividend yield of 5.2%. The ex-dividend date is Tuesday, September 3rd. Realty Income’s payout ratio is 291.67%.

Realty Income 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.