Legal & General Group Plc reduced its position in Realty Income Co. (NYSE:O - Free Report) by 16.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,688,213 shares of the real estate investment trust's stock after selling 1,926,364 shares during the quarter. Legal & General Group Plc owned about 1.11% of Realty Income worth $517,447,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in O. Vanguard Group Inc. boosted its holdings in shares of Realty Income by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 139,236,506 shares of the real estate investment trust's stock worth $7,436,622,000 after purchasing an additional 555,908 shares during the last quarter. Geode Capital Management LLC lifted its position in Realty Income by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 23,473,694 shares of the real estate investment trust's stock worth $1,253,584,000 after buying an additional 658,240 shares in the last quarter. Norges Bank acquired a new position in Realty Income during the fourth quarter worth $624,666,000. Raymond James Financial Inc. acquired a new position in Realty Income during the fourth quarter worth $553,572,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Realty Income by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,989,300 shares of the real estate investment trust's stock valued at $533,529,000 after buying an additional 260,071 shares in the last quarter. Hedge funds and other institutional investors own 70.81% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on O shares. Stifel Nicolaus reduced their price target on Realty Income from $70.00 to $66.50 and set a "buy" rating on the stock in a report on Wednesday, January 8th. Barclays boosted their target price on shares of Realty Income from $56.00 to $59.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Scotiabank cut their price target on shares of Realty Income from $59.00 to $57.00 and set a "sector perform" rating for the company in a report on Friday, February 28th. Mizuho lifted their price target on shares of Realty Income from $54.00 to $59.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Finally, Royal Bank of Canada lowered their price objective on Realty Income from $62.00 to $60.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Realty Income has an average rating of "Hold" and an average price target of $62.42.
Get Our Latest Stock Analysis on O
Realty Income Stock Up 1.3 %
Shares of NYSE O traded up $0.72 during mid-day trading on Friday, reaching $54.87. The company had a trading volume of 2,502,767 shares, compared to its average volume of 5,284,701. Realty Income Co. has a 52-week low of $50.65 and a 52-week high of $64.88. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.68. The stock has a market cap of $48.93 billion, a P/E ratio of 52.18, a PEG ratio of 2.10 and a beta of 0.79. The firm has a 50 day simple moving average of $55.85 and a two-hundred day simple moving average of $56.76.
Realty Income (NYSE:O - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $1.05 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.01). Realty Income had a return on equity of 2.35% and a net margin of 17.57%. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.28 billion. Sell-side analysts predict that Realty Income Co. will post 4.19 earnings per share for the current year.
Realty Income Announces Dividend
The firm also recently declared a may 25 dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be given a $0.2685 dividend. The ex-dividend date is Thursday, May 1st. This represents a yield of 6%. Realty Income's dividend payout ratio (DPR) is 328.57%.
Realty Income Company Profile
(
Free Report)
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.
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