Victory Capital Management Inc. Sells 395,040 Shares of Realty Income Co. (NYSE:O)

Victory Capital Management Inc. reduced its stake in Realty Income Co. (NYSE:O - Free Report) by 49.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 408,118 shares of the real estate investment trust's stock after selling 395,040 shares during the period. Victory Capital Management Inc.'s holdings in Realty Income were worth $25,883,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in O. Legal & General Group Plc lifted its stake in shares of Realty Income by 4.5% in the second quarter. Legal & General Group Plc now owns 12,258,468 shares of the real estate investment trust's stock valued at $647,492,000 after buying an additional 531,008 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Realty Income by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 11,682,105 shares of the real estate investment trust's stock valued at $617,043,000 after purchasing an additional 413,865 shares during the last quarter. APG Asset Management US Inc. increased its holdings in Realty Income by 3.1% during the 2nd quarter. APG Asset Management US Inc. now owns 8,680,325 shares of the real estate investment trust's stock worth $454,502,000 after purchasing an additional 265,000 shares in the last quarter. Raymond James & Associates raised its stake in shares of Realty Income by 92.4% in the third quarter. Raymond James & Associates now owns 6,479,542 shares of the real estate investment trust's stock worth $410,932,000 after purchasing an additional 3,112,560 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Realty Income by 1.9% in the second quarter. Bank of New York Mellon Corp now owns 6,134,407 shares of the real estate investment trust's stock valued at $324,019,000 after purchasing an additional 116,789 shares in the last quarter. Institutional investors and hedge funds own 70.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on O shares. Morgan Stanley reissued an "equal weight" rating and issued a $62.00 price target on shares of Realty Income in a research report on Tuesday, August 6th. Scotiabank raised their price target on shares of Realty Income from $61.00 to $64.00 and gave the company a "sector perform" rating in a research report on Tuesday, September 17th. UBS Group decreased their price objective on shares of Realty Income from $72.00 to $71.00 and set a "buy" rating for the company in a research note on Thursday. Royal Bank of Canada cut their target price on Realty Income from $67.00 to $63.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 6th. Finally, Robert W. Baird increased their price target on Realty Income from $57.00 to $58.00 and gave the company a "neutral" rating in a research report on Tuesday, August 6th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $63.85.

Realty Income Stock Performance

NYSE O traded up $0.20 during trading on Monday, hitting $56.74. 1,998,097 shares of the company's stock traded hands, compared to its average volume of 5,672,190. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a market capitalization of $49.66 billion, a price-to-earnings ratio of 53.56, a PEG ratio of 3.98 and a beta of 0.99. Realty Income Co. has a 12-month low of $50.65 and a 12-month high of $64.88. The business has a 50 day moving average of $61.31 and a 200-day moving average of $58.04.

Realty Income (NYSE:O - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts' consensus estimates of $1.05 by ($0.75). The business had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.26 billion. Realty Income had a net margin of 17.57% and a return on equity of 2.35%. The business's quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.02 earnings per share. As a group, equities research analysts anticipate that Realty Income Co. will post 4.19 earnings per share for the current fiscal year.

Realty Income Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be issued a dividend of $0.2635 per share. This represents a $3.16 dividend on an annualized basis and a yield of 5.57%. The ex-dividend date is Monday, December 2nd. This is a positive change from Realty Income's previous monthly dividend of $0.24. Realty Income's dividend payout ratio is 300.95%.

Insiders Place Their Bets

In other news, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $60.77, for a total value of $303,850.00. Following the transaction, the director now owns 5,257 shares of the company's stock, valued at $319,467.89. This represents a 48.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mary Hogan Preusse sold 1,712 shares of the firm's stock in a transaction on 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 owns 26,579 shares in the company, valued at approximately $1,663,313.82. This trade represents a 6.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company's stock.

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.