Panagora Asset Management Inc. Decreases Stock Holdings in Realty Income Co. (NYSE:O)

Panagora Asset Management Inc. lowered its position in Realty Income Co. (NYSE:O) by 30.8% during the second quarter, HoldingsChannel.com reports. The fund owned 13,733 shares of the real estate investment trust’s stock after selling 6,126 shares during the quarter. Panagora Asset Management Inc.’s holdings in Realty Income were worth $725,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. American National Bank purchased a new stake in shares of Realty Income in the fourth quarter valued at $25,000. Vima LLC acquired a new stake in shares of Realty Income during the 4th quarter worth about $25,000. Pacifica Partners Inc. boosted its stake in shares of 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. WASHINGTON TRUST Co grew its holdings in shares of Realty Income by 65.7% during the first quarter. WASHINGTON TRUST Co now owns 497 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 197 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Realty Income in the first quarter valued at approximately $27,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Insider Activity at Realty Income

In related news, Director A. Larry Chapman sold 5,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $319,467.89. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.10% of the company’s stock.

Realty Income Trading Up 1.2 %

Shares of O stock opened at $62.11 on Tuesday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.66. Realty Income Co. has a fifty-two week low of $45.03 and a fifty-two week high of $62.41. The firm’s 50 day moving average price is $57.70 and its two-hundred day moving average price is $54.74. The stock has a market cap of $54.08 billion, a price-to-earnings ratio of 57.51, a price-to-earnings-growth ratio of 4.62 and a beta of 0.96.

Realty Income (NYSE:O) last issued its earnings results on Monday, August 5th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). Realty Income had a net margin of 17.89% and a return on equity of 3.27%. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the business posted $1.00 EPS. The business’s revenue was up 31.4% on a year-over-year basis. On average, analysts anticipate that Realty Income Co. will post 3.93 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 $0.263 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a dividend yield of 5.2%. Realty Income’s dividend payout ratio (DPR) is currently 291.67%.

Wall Street Analysts Forecast Growth

O has been the topic of a number of analyst reports. Mizuho raised their target price on shares of Realty Income from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. UBS Group raised their price objective on Realty Income from $61.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. KeyCorp started coverage on Realty Income in a research note on Wednesday, June 12th. They issued a “sector weight” rating for the company. Royal Bank of Canada lifted their price target on Realty Income from $58.00 to $64.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, 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 objective on the stock. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Realty Income presently has a consensus rating of “Hold” and an average price target of $62.02.

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.