Callodine Capital Management LP Buys Shares of 265,000 Realty Income Corporation $O

Key Points

• Callodine Capital Management LP has invested approximately $15.37 million in Realty Income Corporation, acquiring 265,000 shares, which now constitute about 2.6% of its holdings.
• Realty Income recently increased its monthly dividend to $0.269 per share, reflecting a 5.5% annual yield, with the ex-dividend date set for September 2nd.
• Analysts have mixed views on Realty Income, with price targets ranging from $58.00 to $66.00 and a consensus rating of "Hold."

Callodine Capital Management LP purchased a new position in Realty Income Corporation (NYSE:O - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 265,000 shares of the real estate investment trust's stock, valued at approximately $15,373,000. Realty Income accounts for 2.6% of Callodine Capital Management LP's holdings, making the stock its 16th biggest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Realty Income by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 142,511,359 shares of the real estate investment trust's stock worth $8,267,084,000 after purchasing an additional 3,274,853 shares in the last quarter. Northern Trust Corp increased its stake in shares of 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 valued at $701,792,000 after purchasing an additional 3,834,403 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Realty Income by 3.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,108,561 shares of the real estate investment trust's stock valued at $702,381,000 after purchasing an additional 451,307 shares in the last quarter. Invesco Ltd. increased its stake in shares of Realty Income by 0.4% in the 1st quarter. Invesco Ltd. now owns 11,421,973 shares of the real estate investment trust's stock valued at $662,589,000 after purchasing an additional 48,024 shares in the last quarter. Finally, Raymond James Financial Inc. increased its stake in shares of Realty Income by 9.6% in the 1st quarter. Raymond James Financial Inc. now owns 11,356,883 shares of the real estate investment trust's stock valued at $658,813,000 after purchasing an additional 992,303 shares in the last quarter. Institutional investors own 70.81% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on O shares. JPMorgan Chase & Co. cut their price objective on Realty Income from $64.00 to $61.00 and set a "neutral" rating for the company in a research note on Monday, May 5th. Barclays boosted their price objective on Realty Income from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 20th. UBS Group boosted their price objective on Realty Income from $62.00 to $66.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. Wedbush reiterated a "neutral" rating and set a $61.00 price objective on shares of Realty Income in a research note on Wednesday, May 7th. Finally, Stifel Nicolaus boosted their price objective on Realty Income from $65.50 to $68.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Three analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $62.00.

Realty Income Trading Up 1.1%

O traded up $0.62 during trading hours on Friday, reaching $58.75. The company's stock had a trading volume of 4,365,965 shares, compared to its average volume of 5,375,138. Realty Income Corporation has a fifty-two week low of $50.71 and a fifty-two week high of $64.88. The stock has a market cap of $53.72 billion, a PE ratio of 57.04, a P/E/G ratio of 4.44 and a beta of 0.76. The business's 50-day moving average is $57.64 and its 200-day moving average is $56.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.85 and a quick ratio of 1.85.

Realty Income (NYSE:O - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $1.05 EPS for the quarter, missing analysts' consensus estimates of $1.06 by ($0.01). Realty Income had a net margin of 16.77% and a return on equity of 2.34%. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the prior year, the company posted $1.07 earnings per share. The company's revenue was up 5.3% on a year-over-year basis. As a group, equities research analysts predict that Realty Income Corporation will post 4.19 earnings per share for the current fiscal year.

Realty Income Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a $0.269 dividend. This is a boost from Realty Income's previous monthly dividend of $0.26. This represents a c) dividend on an annualized basis and a yield of 5.5%. The ex-dividend date is Tuesday, September 2nd. Realty Income's payout ratio is currently 313.59%.

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.