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

Connors Investor Services Inc. decreased its holdings in Realty Income Co. (NYSE:O) by 31.4% during the 2nd quarter, according to its most recent disclosure with the Securities & 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 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vima LLC acquired a new position in shares of Realty Income during the 4th quarter worth approximately $25,000. Pacifica Partners Inc. boosted its position in Realty Income by 444.4% during the second 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 period. Northwest Investment Counselors LLC acquired a new position in shares of Realty Income in the first quarter valued at $27,000. Bell Investment Advisors Inc increased its holdings in shares of Realty Income by 69.6% in the first quarter. Bell Investment Advisors Inc now owns 529 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 217 shares during the last quarter. Finally, Able Wealth Management LLC bought a new position in shares of Realty Income in the fourth quarter valued at about $32,000. 70.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, 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 transaction of $303,850.00. Following the completion of the transaction, the director now directly owns 5,257 shares in the company, valued at approximately $319,467.89. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related 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 transaction of $303,850.00. Following the sale, the director now owns 5,257 shares in the company, valued at approximately $319,467.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary Hogan Preusse sold 1,712 shares of the company’s stock in a transaction dated 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 approximately $1,663,313.82. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Realty Income Stock Performance

Shares of Realty Income stock opened at $62.68 on Tuesday. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.66. The company has a market cap of $54.58 billion, a PE ratio of 58.04, a price-to-earnings-growth ratio of 4.65 and a beta of 0.99. The company has a 50 day moving average of $59.68 and a 200-day moving average of $55.45. Realty Income Co. has a 1-year low of $45.03 and a 1-year high of $63.39.

Realty Income (NYSE:O) last released its earnings results on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share 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 the consensus estimate of $1.22 billion. During the same quarter in the previous 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. As a group, equities research analysts forecast that Realty Income Co. will post 3.93 earnings per share for the current fiscal year.

Realty Income Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on O. Morgan Stanley reaffirmed an “equal weight” rating and set a $62.00 target price on shares of Realty Income in a report on Tuesday, August 6th. Wells Fargo & Company upped their target price on Realty Income from $57.00 to $62.00 and gave the company an “equal weight” rating in a research report on Monday, August 26th. Stifel Nicolaus increased their target price on Realty Income from $67.50 to $70.25 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. KeyCorp started coverage on Realty Income in a research note on Wednesday, June 12th. They issued a “sector weight” rating for the company. Finally, Scotiabank increased their price objective on Realty Income from $56.00 to $61.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $62.38.

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.