Westbourne Investments Inc. Buys New Shares in Realty Income Co. (NYSE:O)

Westbourne Investments Inc. acquired a new position in Realty Income Co. (NYSE:O - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,100 shares of the real estate investment trust's stock, valued at approximately $272,000.

Several other institutional investors have also recently made changes to their positions in O. Norges Bank bought a new position in shares of Realty Income during the 4th quarter valued at about $624,666,000. Raymond James Financial Inc. purchased a new position in Realty Income during the 4th quarter valued at approximately $553,572,000. Northern Trust Corp increased its stake in Realty Income by 41.2% in the 4th quarter. Northern Trust Corp now owns 13,139,719 shares of the real estate investment trust's stock worth $701,792,000 after acquiring an additional 3,834,403 shares during the last quarter. California Public Employees Retirement System raised its holdings in shares of Realty Income by 26.7% during the 4th quarter. California Public Employees Retirement System now owns 3,849,998 shares of the real estate investment trust's stock worth $205,628,000 after acquiring an additional 811,037 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Realty Income by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 23,473,694 shares of the real estate investment trust's stock valued at $1,253,584,000 after acquiring an additional 658,240 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on O shares. BNP Paribas downgraded shares of Realty Income from an "outperform" rating to a "neutral" rating and set a $61.00 price target on the stock. in a research note on Tuesday, February 25th. Mizuho lifted their price target on Realty Income from $54.00 to $59.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Royal Bank of Canada decreased their price objective on Realty Income from $62.00 to $60.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Scotiabank dropped their target price on Realty Income from $59.00 to $57.00 and set a "sector perform" rating for the company in a report on Friday, February 28th. Finally, Barclays restated an "overweight" rating on shares of Realty Income in a report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $62.35.

Realty Income Stock Down 0.4 %

NYSE:O traded down $0.23 during trading hours on Friday, reaching $56.94. The company's stock had a trading volume of 4,290,822 shares, compared to its average volume of 5,219,907. The stock has a 50 day moving average price of $56.58 and a two-hundred day moving average price of $56.25. 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 company has a market capitalization of $50.78 billion, a P/E ratio of 54.23, a price-to-earnings-growth ratio of 2.10 and a beta of 0.78. Realty Income Co. has a 12 month low of $50.71 and a 12 month high of $64.88.

Realty Income (NYSE:O - Get Free Report) last posted its earnings results on Monday, February 24th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.01). Realty Income had a net margin of 17.57% and a return on equity of 2.35%. The company had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.28 billion. Equities analysts predict that Realty Income Co. will post 4.19 EPS for the current fiscal year.

Realty Income Announces Dividend

The firm also recently disclosed a may 25 dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be given 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 payout ratio is 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.