State of New Jersey Common Pension Fund D Cuts Stock Position in Realty Income Co. (NYSE:O)

State of New Jersey Common Pension Fund D lessened its stake in Realty Income Co. (NYSE:O) by 30.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 325,817 shares of the real estate investment trust’s stock after selling 144,247 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Realty Income were worth $17,210,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in O. American National Bank acquired a new stake in Realty Income during the 4th quarter worth $25,000. Vima LLC acquired a new stake in Realty Income during the 4th quarter worth $25,000. Pacifica Partners Inc. boosted its stake in Realty Income by 444.4% during the 2nd quarter. Pacifica Partners Inc. now owns 490 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 400 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in Realty Income during the 1st quarter worth $27,000. Finally, Bell Investment Advisors Inc boosted its stake in Realty Income by 69.6% during the 1st quarter. Bell Investment Advisors Inc now owns 529 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 217 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Realty Income Stock Up 0.5 %

Shares of NYSE:O opened at $62.71 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.39 and a quick ratio of 1.39. The firm has a market capitalization of $54.61 billion, a PE ratio of 58.06, a price-to-earnings-growth ratio of 4.65 and a beta of 0.99. The firm’s 50-day moving average is $59.49 and its two-hundred day moving average is $55.33. Realty Income Co. has a 1 year low of $45.03 and a 1 year high of $63.39.

Realty Income (NYSE:O) last issued its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). Realty Income had a return on equity of 3.27% and a net margin of 17.89%. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter last year, the company earned $1.00 earnings per share. The firm’s revenue for the quarter was up 31.4% on a year-over-year basis. Analysts predict that Realty Income Co. will post 3.93 EPS for the current year.

Realty Income Increases Dividend

The company also recently announced a oct 24 dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a dividend of $0.2635 per share. This represents a dividend yield of 5%. This is a positive change from Realty Income’s previous oct 24 dividend of $0.26. The ex-dividend date is Tuesday, October 1st. Realty Income’s dividend payout ratio is presently 292.59%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on O. KeyCorp began coverage on shares of Realty Income in a research report on Wednesday, June 12th. They set a “sector weight” rating on the stock. 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. Robert W. Baird boosted their price target on shares of Realty Income from $57.00 to $58.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Wells Fargo & Company boosted their price target on shares of Realty Income from $57.00 to $62.00 and gave the company an “equal weight” rating in a research report on Monday, August 26th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Realty Income from $60.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Realty Income has a consensus rating of “Hold” and an average target price of $62.38.

Insider Buying and Selling

In related news, Director Mary Hogan Preusse sold 1,712 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total transaction of $107,136.96. Following the sale, the director now directly owns 26,579 shares in the company, valued at $1,663,313.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Mary Hogan Preusse sold 1,712 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total value of $107,136.96. Following the completion of the transaction, the director now directly owns 26,579 shares of the company’s stock, valued at $1,663,313.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director A. Larry Chapman sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $60.77, for a total value of $303,850.00. Following the completion of the transaction, the director now directly owns 5,257 shares of the company’s stock, valued at $319,467.89. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

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.