Oppenheimer Asset Management Inc. Sells 15,769 Shares of Realty Income Co. (NYSE:O)

Oppenheimer Asset Management Inc. trimmed its position in shares of Realty Income Co. (NYSE:O) by 23.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 51,540 shares of the real estate investment trust’s stock after selling 15,769 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Realty Income were worth $2,722,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of O. CWA Asset Management Group LLC acquired a new stake in Realty Income in the 4th quarter valued at $379,000. Texas Permanent School Fund Corp grew its position in Realty Income by 15.0% in the 1st quarter. Texas Permanent School Fund Corp now owns 171,916 shares of the real estate investment trust’s stock valued at $9,301,000 after acquiring an additional 22,440 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in Realty Income by 4.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 1,343,159 shares of the real estate investment trust’s stock valued at $77,124,000 after acquiring an additional 51,574 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Realty Income by 17.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,131,375 shares of the real estate investment trust’s stock valued at $61,208,000 after acquiring an additional 171,166 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its position in shares of Realty Income by 5.4% during the fourth quarter. Treasurer of the State of North Carolina now owns 330,673 shares of the real estate investment trust’s stock worth $18,987,000 after buying an additional 16,831 shares in the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

Realty Income Price Performance

Shares of O opened at $62.50 on Wednesday. The firm has a market cap of $54.42 billion, a price-to-earnings ratio of 57.87, a PEG ratio of 4.65 and a beta of 0.99. The stock has a 50 day moving average of $59.87 and a 200-day moving average of $55.52. 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 52 week low of $45.03 and a 52 week high of $63.39.

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 the consensus estimate of $0.36 by ($0.07). The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.22 billion. Realty Income had a return on equity of 3.27% and a net margin of 17.89%. Realty Income’s revenue was up 31.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.00 EPS. As a group, analysts forecast 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. Stockholders of record on Tuesday, October 1st will be given a $0.2635 dividend. This is a positive change from Realty Income’s previous oct 24 dividend of $0.26. The ex-dividend date is Tuesday, October 1st. This represents a dividend yield of 5%. Realty Income’s dividend payout ratio (DPR) is presently 292.59%.

Insider Transactions at Realty Income

In related news, Director A. Larry Chapman sold 5,000 shares of the firm’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 value of $303,850.00. Following the sale, the director now owns 5,257 shares of the company’s stock, valued at approximately $319,467.89. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director A. Larry Chapman sold 5,000 shares of the business’s 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 sale, the director now owns 5,257 shares of the company’s stock, 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 link. Also, Director Mary Hogan Preusse sold 1,712 shares of Realty Income 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 transaction, the director now owns 26,579 shares in the company, valued at $1,663,313.82. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on O. Morgan Stanley reissued an “equal weight” rating and set a $62.00 price objective on shares of Realty Income in a research report on Tuesday, August 6th. KeyCorp started coverage on Realty Income in a research note on Wednesday, June 12th. They issued a “sector weight” rating for the company. UBS Group upped their price target on Realty Income from $61.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Robert W. Baird upped their price objective on Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Finally, Wells Fargo & Company upped 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. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $62.59.

About Realty Income

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.