Parsons Capital Management Inc. RI Sells 300 Shares of Realty Income Corporation $O

Parsons Capital Management Inc. RI lessened its holdings in Realty Income Corporation (NYSE:O) by 0.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 33,222 shares of the real estate investment trust’s stock after selling 300 shares during the period. Parsons Capital Management Inc. RI’s holdings in Realty Income were worth $1,914,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in O. Vanguard Group Inc. raised its stake in Realty Income by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 142,511,359 shares of the real estate investment trust’s stock worth $8,267,084,000 after acquiring an additional 3,274,853 shares during the period. Dimensional Fund Advisors LP raised its stake in Realty Income by 3.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,108,561 shares of the real estate investment trust’s stock worth $702,381,000 after acquiring an additional 451,307 shares during the period. Invesco Ltd. raised its stake in Realty Income by 0.4% during the 1st quarter. Invesco Ltd. now owns 11,421,973 shares of the real estate investment trust’s stock worth $662,589,000 after acquiring an additional 48,024 shares during the period. Raymond James Financial Inc. raised its stake in Realty Income by 9.6% during the 1st quarter. Raymond James Financial Inc. now owns 11,356,883 shares of the real estate investment trust’s stock worth $658,813,000 after acquiring an additional 992,303 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Realty Income by 1.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,112,801 shares of the real estate investment trust’s stock worth $586,644,000 after acquiring an additional 123,501 shares during the period. Institutional investors own 70.81% of the company’s stock.

Insider Buying and Selling at Realty Income

In related news, Director Mary Hogan Preusse sold 11,000 shares of the firm’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $60.43, for a total value of $664,730.00. Following the completion of the transaction, the director directly owned 19,211 shares of the company’s stock, valued at approximately $1,160,920.73. This trade represents a 36.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.10% of the company’s stock.

Realty Income Trading Down 0.6%

Shares of O opened at $60.08 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.85 and a quick ratio of 1.85. Realty Income Corporation has a 1 year low of $50.71 and a 1 year high of $64.88. The company has a 50 day simple moving average of $58.68 and a two-hundred day simple moving average of $57.34. The firm has a market cap of $54.93 billion, a P/E ratio of 58.33, a price-to-earnings-growth ratio of 4.62 and a beta of 0.78.

Realty Income (NYSE:O) last posted its earnings results on Wednesday, August 6th. The real estate investment trust reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.01). Realty Income had a net margin of 16.77% and a return on equity of 2.34%. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the business posted $1.07 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities analysts expect that Realty Income Corporation will post 4.19 earnings per share for the current fiscal year.

Realty Income Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be issued a $0.2695 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. This is a boost from Realty Income’s previous monthly dividend of $0.27. The ex-dividend date of this dividend is Wednesday, October 1st. Realty Income’s payout ratio is 313.59%.

Analyst Ratings Changes

A number of equities research analysts have commented on O shares. Scotiabank raised their target price on shares of Realty Income from $58.00 to $60.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 28th. Cantor Fitzgerald started coverage on shares of Realty Income in a research note on Wednesday. They set a “neutral” rating and a $64.00 target price on the stock. Wolfe Research cut shares of Realty Income from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 14th. UBS Group increased their price objective on shares of Realty Income from $62.00 to $66.00 and gave the company a “buy” rating in a report on Friday, August 15th. Finally, Mizuho increased their price objective on shares of Realty Income from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, September 11th. Three research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $62.25.

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.