Connors Investor Services Inc. Sells 1,900 Shares of Realty Income Co. (NYSE:O)

Connors Investor Services Inc. reduced its stake in Realty Income Co. (NYSE:O) by 31.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,145 shares of the real estate investment trust’s stock after selling 1,900 shares during the period. Connors Investor Services Inc.’s holdings in Realty Income were worth $219,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vima LLC acquired a new position in shares of Realty Income in the 4th quarter worth approximately $25,000. Pacifica Partners Inc. lifted its position 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 buying an additional 400 shares in the last quarter. Northwest Investment Counselors LLC bought a new stake in Realty Income during the 1st quarter worth about $27,000. Bell Investment Advisors Inc increased its position in Realty Income by 69.6% in the 1st quarter. Bell Investment Advisors Inc now owns 529 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 217 shares in the last quarter. Finally, Able Wealth Management LLC bought a new position in shares of Realty Income in the fourth quarter worth about $32,000. 70.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,663,313.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director A. Larry Chapman sold 5,000 shares of the 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 completion of 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 legal filing with the SEC, which is available at this link. Also, Director Mary Hogan Preusse sold 1,712 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total transaction of $107,136.96. Following 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.

Wall Street Analysts Forecast Growth

O has been the subject of a number of research reports. Scotiabank raised their price target on shares of Realty Income from $56.00 to $61.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Wells Fargo & Company lifted their target price on Realty Income from $57.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, August 26th. Morgan Stanley reiterated an “equal weight” rating and issued a $62.00 price target on shares of Realty Income in a report on Tuesday, August 6th. Royal Bank of Canada boosted their price objective on Realty Income from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, Robert W. Baird upped their target price 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. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $62.38.

Realty Income Price Performance

Shares of O opened at $62.68 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.39 and a current ratio of 1.39. The firm has a market capitalization of $54.58 billion, a PE ratio of 58.04, a P/E/G ratio of 4.65 and a beta of 0.99. The stock has a 50 day simple moving average of $59.68 and a 200 day simple moving average of $55.45. 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 quarterly earnings data 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 company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.22 billion. Realty Income had a return on equity of 3.27% and a net margin of 17.89%. The firm’s revenue was up 31.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.00 EPS. Sell-side analysts predict that Realty Income Co. will post 3.93 EPS for the current fiscal year.

Realty Income Increases Dividend

The company also recently announced 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. This is a boost from Realty Income’s previous oct 24 dividend of $0.26. The ex-dividend date is Tuesday, October 1st. This represents a yield of 5%. Realty Income’s payout ratio is presently 292.59%.

Realty Income Company 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.