Cedar Wealth Management LLC Sells 650 Shares of Realty Income Co. (NYSE:O)

Cedar Wealth Management LLC reduced its position in shares of Realty Income Co. (NYSE:O) by 31.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,450 shares of the real estate investment trust’s stock after selling 650 shares during the period. Cedar Wealth Management LLC’s holdings in Realty Income were worth $77,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in O. Waters Parkerson & CO. LLC increased its stake in shares of Realty Income by 5.0% in the second quarter. Waters Parkerson & CO. LLC now owns 358,545 shares of the real estate investment trust’s stock valued at $18,938,000 after buying an additional 17,000 shares during the period. Canada Pension Plan Investment Board increased its position in 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. Benjamin F. Edwards & Company Inc. raised its holdings in Realty Income by 8.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 195,334 shares of the real estate investment trust’s stock worth $10,318,000 after purchasing an additional 15,912 shares during the last quarter. Trust Investment Advisors raised its holdings in Realty Income by 5.6% during the 2nd quarter. Trust Investment Advisors now owns 21,766 shares of the real estate investment trust’s stock worth $1,150,000 after purchasing an additional 1,160 shares during the last quarter. Finally, Brighton Jones LLC lifted its position in shares of Realty Income by 5.2% in the 2nd quarter. Brighton Jones LLC now owns 5,941 shares of the real estate investment trust’s stock worth $314,000 after purchasing an additional 294 shares during the period. Institutional investors and hedge funds own 70.81% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Stifel Nicolaus lifted their price objective on Realty Income from $67.50 to $70.25 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Scotiabank lifted their target price on Realty Income from $61.00 to $64.00 and gave the stock a “sector perform” rating in a report on Tuesday. Morgan Stanley reissued an “equal weight” rating and issued a $62.00 price target on shares of Realty Income in a research note on Tuesday, August 6th. KeyCorp began coverage on shares of Realty Income in a research report on Wednesday, June 12th. They set a “sector weight” rating for the company. Finally, Royal Bank of Canada increased their target price on shares of Realty Income from $58.00 to $64.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $62.59.

Realty Income Price Performance

O opened at $60.69 on Friday. The stock has a market capitalization of $52.85 billion, a P/E ratio of 56.19, a PEG ratio of 4.65 and a beta of 0.99. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.66. Realty Income Co. has a 12-month low of $45.03 and a 12-month high of $63.39. The stock has a 50-day moving average price of $60.16 and a 200-day moving average price of $55.60.

Realty Income (NYSE:O) last posted its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate 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 period last year, the business posted $1.00 earnings per share. The company’s revenue was up 31.4% compared to the same quarter last year. Equities analysts predict that Realty Income Co. will post 3.93 earnings per share for the current fiscal year.

Realty Income Increases Dividend

The firm also recently declared a oct 24 dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a $0.2635 dividend. The ex-dividend date is Tuesday, October 1st. This is an increase from Realty Income’s previous oct 24 dividend of $0.26. This represents a yield of 5%. Realty Income’s payout ratio is currently 292.59%.

Insider Buying and Selling at Realty Income

In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the business’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 sale, the director now owns 26,579 shares in the company, 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. In other news, Director A. Larry Chapman sold 5,000 shares of the business’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 directly owns 5,257 shares of the company’s stock, valued at $319,467.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mary Hogan Preusse sold 1,712 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 26,579 shares of the company’s stock, valued at approximately $1,663,313.82. The disclosure for this sale can be found here. Company 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.