Realty Income Co. (NYSE:O) Shares Sold by Vestcor Inc

Vestcor Inc cut its stake in shares of Realty Income Co. (NYSE:O - Free Report) by 14.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 79,857 shares of the real estate investment trust's stock after selling 13,377 shares during the quarter. Vestcor Inc's holdings in Realty Income were worth $5,065,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Atlanta Consulting Group Advisors LLC purchased a new position in shares of Realty Income in the third quarter valued at $896,000. Code Waechter LLC acquired a new stake in Realty Income in the 3rd quarter valued at about $1,308,000. Charles Schwab Investment Management Inc. increased its holdings in Realty Income by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,729,229 shares of the real estate investment trust's stock valued at $617,028,000 after acquiring an additional 463,286 shares in the last quarter. Swiss National Bank raised its position in Realty Income by 1.4% during the third quarter. Swiss National Bank now owns 2,584,694 shares of the real estate investment trust's stock worth $163,921,000 after acquiring an additional 35,100 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of Realty Income by 102.1% in the third quarter. Bank of Montreal Can now owns 2,191,962 shares of the real estate investment trust's stock valued at $137,502,000 after purchasing an additional 1,107,493 shares in the last quarter. Hedge funds and other institutional investors own 70.81% of the company's stock.

Realty Income Stock Down 0.8 %

Shares of O stock traded down $0.45 during trading hours on Wednesday, hitting $55.33. 6,621,890 shares of the company were exchanged, compared to its average volume of 5,580,119. The stock has a market capitalization of $48.43 billion, a price-to-earnings ratio of 52.65, a P/E/G ratio of 3.95 and a beta of 0.98. Realty Income Co. has a one year low of $50.65 and a one year high of $64.88. The business's 50-day simple moving average is $59.45 and its two-hundred day simple moving average is $58.32. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.40 and a current ratio of 1.40.

Realty Income (NYSE:O - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.75). Realty Income had a net margin of 17.57% and a return on equity of 2.35%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the company posted $1.02 earnings per share. The business's revenue was up 28.1% on a year-over-year basis. Sell-side analysts predict that Realty Income Co. will post 4.2 EPS for the current fiscal year.

Realty Income Increases Dividend

The business also recently disclosed a jan 25 dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a dividend of $0.264 per share. The ex-dividend date is Thursday, January 2nd. This represents a yield of 5.7%. This is a positive change from Realty Income's previous jan 25 dividend of $0.26. Realty Income's payout ratio is currently 300.96%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Stifel Nicolaus cut their target price on shares of Realty Income from $70.50 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, November 5th. Scotiabank lifted their target price on shares of Realty Income from $61.00 to $64.00 and gave the stock a "sector perform" rating in a research note on Tuesday, September 17th. Mizuho lowered Realty Income from an "outperform" rating to a "neutral" rating and reduced their price target for the stock from $64.00 to $60.00 in a research note on Thursday, November 14th. Wedbush started coverage on Realty Income in a research report on Monday, August 19th. They issued a "neutral" rating and a $64.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their target price on Realty Income from $60.00 to $67.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 3rd. Eleven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Realty Income has an average rating of "Hold" and an average target price of $63.54.

Realty Income Company 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.