Cohen & Steers Inc. Sells 5,886,521 Shares of Realty Income Co. (NYSE:O)

Cohen & Steers Inc. cut its holdings in Realty Income Co. (NYSE:O - Free Report) by 30.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,664,754 shares of the real estate investment trust's stock after selling 5,886,521 shares during the period. Realty Income makes up approximately 1.4% of Cohen & Steers Inc.'s investment portfolio, making the stock its 21st largest position. Cohen & Steers Inc. owned about 1.56% of Realty Income worth $729,768,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Lee Danner & Bass Inc. acquired a new position in Realty Income in the fourth quarter valued at about $28,000. Hopwood Financial Services Inc. acquired a new position in shares of Realty Income in the 4th quarter valued at approximately $29,000. Sierra Ocean LLC acquired a new stake in shares of Realty Income during the 4th quarter worth approximately $32,000. Millstone Evans Group LLC bought a new position in Realty Income in the fourth quarter valued at approximately $34,000. Finally, BankPlus Trust Department acquired a new position in Realty Income during the fourth quarter valued at approximately $37,000. 70.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Stifel Nicolaus lowered their price target on Realty Income from $70.00 to $66.50 and set a "buy" rating for the company in a report on Wednesday, January 8th. Royal Bank of Canada dropped their price objective on shares of Realty Income from $62.00 to $60.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Barclays raised their price objective on Realty Income from $56.00 to $59.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Mizuho increased their target price on Realty Income from $54.00 to $59.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Finally, Scotiabank reduced their price target on Realty Income from $59.00 to $57.00 and set a "sector perform" rating on the stock in a report on Friday, February 28th. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $62.42.

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Realty Income Trading Up 1.3 %

Shares of O traded up $0.75 during trading hours on Tuesday, hitting $57.02. 4,987,200 shares of the stock were exchanged, compared to its average volume of 5,286,017. The firm has a market capitalization of $50.85 billion, a P/E ratio of 54.30, a price-to-earnings-growth ratio of 2.10 and a beta of 0.79. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.40. Realty Income Co. has a fifty-two week low of $50.65 and a fifty-two week high of $64.88. The business has a 50-day moving average of $55.91 and a 200-day moving average of $56.62.

Realty Income (NYSE:O - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $1.05 earnings per share 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 business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.28 billion. On average, research analysts expect that Realty Income Co. will post 4.19 EPS for the current year.

Realty Income Announces Dividend

The business also recently disclosed a may 25 dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be paid a $0.2685 dividend. The ex-dividend date of this dividend is Thursday, May 1st. This represents a dividend yield of 6%. Realty Income's dividend payout ratio is currently 328.57%.

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.