Zions Bancorporation N.A. Sells 2,478 Shares of Realty Income Co. (NYSE:O)

Zions Bancorporation N.A. reduced its stake in Realty Income Co. (NYSE:O) by 2.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 106,704 shares of the real estate investment trust’s stock after selling 2,478 shares during the period. Zions Bancorporation N.A.’s holdings in Realty Income were worth $6,767,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Realty Income by 18.3% during the first quarter. Vanguard Group Inc. now owns 134,768,614 shares of the real estate investment trust’s stock worth $7,290,982,000 after purchasing an additional 20,848,560 shares during the last quarter. Legal & General Group Plc lifted its stake in Realty Income by 4.5% during the second quarter. Legal & General Group Plc now owns 12,258,468 shares of the real estate investment trust’s stock worth $647,492,000 after purchasing an additional 531,008 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Realty Income by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 11,682,105 shares of the real estate investment trust’s stock worth $617,043,000 after purchasing an additional 413,865 shares during the last quarter. APG Asset Management US Inc. lifted its stake in Realty Income by 3.1% during the second 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 during the last quarter. Finally, Centersquare Investment Management LLC lifted its stake in Realty Income by 14.9% during the first quarter. Centersquare Investment Management LLC now owns 6,824,420 shares of the real estate investment trust’s stock worth $365,379,000 after purchasing an additional 885,852 shares during the last quarter. 70.81% of the stock is currently owned by institutional investors.

Realty Income Stock Performance

NYSE O opened at $56.91 on Thursday. The company has a market capitalization of $49.81 billion, a price-to-earnings ratio of 54.20, a PEG ratio of 4.01 and a beta of 0.99. Realty Income Co. has a twelve month low of $50.65 and a twelve month high of $64.88. The stock has a fifty day simple moving average of $61.56 and a 200 day simple moving average of $57.98. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.68.

Realty Income (NYSE:O) last posted its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.75). The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.26 billion. Realty Income had a net margin of 17.57% and a return on equity of 2.35%. The business’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.02 earnings per share. Sell-side analysts expect that Realty Income Co. will post 4.19 EPS for the current year.

Realty Income Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be issued a $0.2635 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 5.56%. This is an increase from Realty Income’s previous monthly dividend of $0.24. The ex-dividend date is Monday, December 2nd. Realty Income’s dividend payout ratio is presently 300.96%.

Analyst Ratings Changes

Several research firms have weighed in on O. Scotiabank upped their target price on Realty Income from $61.00 to $64.00 and gave the stock a “sector perform” rating in a research note on Tuesday, September 17th. Wells Fargo & Company restated an “equal weight” rating and set a $65.00 target price (up from $62.00) on shares of Realty Income in a research note on Tuesday, October 1st. Royal Bank of Canada cut their target price on Realty Income from $67.00 to $63.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Stifel Nicolaus dropped their price target on Realty Income from $70.50 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Finally, Mizuho cut Realty Income from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $64.00 to $60.00 in a research note on Thursday. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $63.92.

Insider Activity at Realty Income

In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $60.77, for a total transaction of $303,850.00. Following the completion of the sale, the director now directly owns 5,257 shares in the company, valued at approximately $319,467.89. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total transaction of $107,136.96. Following the completion of the sale, the director now directly owns 26,579 shares in the company, valued at approximately $1,663,313.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $60.77, for a total value of $303,850.00. Following the sale, the director now owns 5,257 shares of the company’s stock, valued at approximately $319,467.89. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

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.