Cornerstone Wealth Management LLC Cuts Stock Position in Realty Income Co. (NYSE:O)

Cornerstone Wealth Management LLC lessened its holdings in shares of Realty Income Co. (NYSE:O) by 10.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,536 shares of the real estate investment trust’s stock after selling 403 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Realty Income were worth $224,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Grove Bank & Trust grew its stake in Realty Income by 14.3% during the 3rd quarter. Grove Bank & Trust now owns 1,409 shares of the real estate investment trust’s stock worth $89,000 after purchasing an additional 176 shares in the last quarter. Founders Financial Securities LLC grew its position in shares of Realty Income by 0.9% during the second quarter. Founders Financial Securities LLC now owns 21,210 shares of the real estate investment trust’s stock worth $1,120,000 after buying an additional 181 shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of Realty Income by 0.6% during the second quarter. Crossmark Global Holdings Inc. now owns 35,285 shares of the real estate investment trust’s stock worth $1,864,000 after buying an additional 199 shares during the period. Optimum Investment Advisors raised its holdings in Realty Income by 11.1% in the second quarter. Optimum Investment Advisors now owns 2,000 shares of the real estate investment trust’s stock valued at $106,000 after acquiring an additional 200 shares in the last quarter. Finally, MeadowBrook Investment Advisors LLC lifted its stake in Realty Income by 3.4% in the second quarter. MeadowBrook Investment Advisors LLC now owns 6,092 shares of the real estate investment trust’s stock worth $322,000 after acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Insider Activity

In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the 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 approximately $1,663,313.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the company’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 transaction, the director now directly owns 26,579 shares in the company, valued at approximately $1,663,313.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $319,467.89. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on O. Robert W. Baird increased their price objective 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. Scotiabank lifted their price target on Realty Income from $61.00 to $64.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 17th. Wedbush initiated coverage on Realty Income in a report on Monday, August 19th. They issued a “neutral” rating and a $64.00 price objective on the stock. Stifel Nicolaus raised their target price on Realty Income from $67.50 to $70.25 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $62.00 price target on shares of Realty Income in a research note on Tuesday, August 6th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $63.94.

Realty Income Price Performance

Realty Income stock opened at $64.71 on Friday. 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 business has a 50 day simple moving average of $62.03 and a 200-day simple moving average of $57.08. Realty Income Co. has a 12 month low of $45.03 and a 12 month high of $64.76. The stock has a market capitalization of $56.35 billion, a PE ratio of 59.92, a price-to-earnings-growth ratio of 4.32 and a beta of 0.99.

Realty Income (NYSE:O) last announced its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). Realty Income had a return on equity of 2.36% and a net margin of 17.89%. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the company posted $1.00 EPS. The firm’s quarterly revenue was up 31.4% compared to the same quarter last year. Equities analysts predict that Realty Income Co. will post 4.2 earnings per share for the current year.

Realty Income Dividend Announcement

The firm also recently announced a nov 24 dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.2635 per share. This represents a dividend yield of 5.1%. The ex-dividend date of this dividend is Friday, November 1st. Realty Income’s dividend payout ratio (DPR) is 292.59%.

Realty Income 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.