Kentucky Retirement Systems Increases Holdings in Realty Income Co. (NYSE:O)

Kentucky Retirement Systems increased its stake in Realty Income Co. (NYSE:O) by 3.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 65,618 shares of the real estate investment trust’s stock after purchasing an additional 2,461 shares during the quarter. Kentucky Retirement Systems’ holdings in Realty Income were worth $3,466,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Elo Mutual Pension Insurance Co boosted its stake in Realty Income by 11.2% during the second quarter. Elo Mutual Pension Insurance Co now owns 84,336 shares of the real estate investment trust’s stock valued at $4,455,000 after buying an additional 8,467 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in Realty Income by 15.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 73,994 shares of the real estate investment trust’s stock valued at $3,726,000 after buying an additional 9,874 shares during the period. Argent Trust Co boosted its stake in Realty Income by 36.5% during the second quarter. Argent Trust Co now owns 5,907 shares of the real estate investment trust’s stock valued at $312,000 after buying an additional 1,580 shares during the period. Wealth Alliance boosted its stake in Realty Income by 33.8% during the second quarter. Wealth Alliance now owns 28,124 shares of the real estate investment trust’s stock valued at $1,486,000 after buying an additional 7,103 shares during the period. Finally, Mutual of America Capital Management LLC boosted its stake in Realty Income by 0.7% during the second quarter. Mutual of America Capital Management LLC now owns 115,367 shares of the real estate investment trust’s stock valued at $6,094,000 after buying an additional 778 shares during the period. Institutional investors own 70.81% of the company’s stock.

Realty Income Stock Down 2.4 %

Shares of NYSE:O opened at $60.69 on Friday. Realty Income Co. has a 1 year low of $45.03 and a 1 year high of $63.39. The company has a market cap of $52.85 billion, a PE ratio of 56.19, a P/E/G ratio of 4.65 and a beta of 0.99. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.39 and a quick ratio of 1.39. The stock’s 50-day moving average is $60.16 and its 200 day moving average is $55.60.

Realty Income (NYSE:O) last announced its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share (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 for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the firm earned $1.00 EPS. The firm’s revenue for the quarter was up 31.4% on a year-over-year basis. Sell-side analysts anticipate that Realty Income Co. will post 3.93 EPS for the current year.

Realty Income Increases Dividend

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

Insider Activity at Realty Income

In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the company’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 transaction of $303,850.00. Following the transaction, the director now owns 5,257 shares in the company, 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 hyperlink. In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the company’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 transaction of $303,850.00. Following the transaction, the director now owns 5,257 shares in the company, 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 hyperlink. Also, Director Mary Hogan Preusse sold 1,712 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 26,579 shares in the company, valued at approximately $1,663,313.82. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on O. KeyCorp began coverage on Realty Income in a research note on Wednesday, June 12th. They set a “sector weight” rating for the company. Wells Fargo & Company lifted their price target on Realty Income from $57.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Monday, August 26th. UBS Group lifted 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. Scotiabank lifted their price target on Realty Income from $61.00 to $64.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Finally, Royal Bank of Canada lifted their price target on Realty Income from $58.00 to $64.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Realty Income has an average rating of “Hold” and an average price target 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.