Realty Income Corporation $O Shares Sold by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. reduced its holdings in Realty Income Corporation by 3.7%, owning 242,799 shares worth approximately $14.09 million after selling 9,330 shares in the first quarter.
• Realty Income recently declared an increased monthly dividend of $0.269, which represents an annualized yield of 5.5%, with a dividend payout ratio of 313.59%.
• Realty Income's stock has a market cap of $53.20 billion and reported earnings of $1.05 per share for the last quarter, missing estimates by $0.01.

Corebridge Financial Inc. decreased its stake in Realty Income Corporation (NYSE:O - Free Report) by 3.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 242,799 shares of the real estate investment trust's stock after selling 9,330 shares during the period. Corebridge Financial Inc.'s holdings in Realty Income were worth $14,085,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of O. Brighton Jones LLC boosted its position in shares of Realty Income by 11.2% in the fourth quarter. Brighton Jones LLC now owns 6,101 shares of the real estate investment trust's stock worth $326,000 after buying an additional 615 shares during the period. Northern Trust Corp boosted its holdings in Realty Income by 41.2% in the fourth 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 during the last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in Realty Income by 32.1% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 70,895 shares of the real estate investment trust's stock valued at $3,786,000 after purchasing an additional 17,237 shares during the last quarter. Bison Wealth LLC purchased a new position in Realty Income in the fourth quarter valued at about $571,000. Finally, Freestone Grove Partners LP purchased a new position in Realty Income in the fourth quarter valued at about $1,691,000. Hedge funds and other institutional investors own 70.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on O. JPMorgan Chase & Co. reduced their price target on Realty Income from $64.00 to $61.00 and set a "neutral" rating for the company in a report on Monday, May 5th. Wedbush reissued a "neutral" rating and issued a $61.00 price target on shares of Realty Income in a report on Wednesday, May 7th. Scotiabank increased their price target on Realty Income from $58.00 to $60.00 and gave the company a "sector perform" rating in a report on Thursday. Barclays increased their price target on Realty Income from $58.00 to $59.00 and gave the company an "equal weight" rating in a report on Wednesday, August 20th. Finally, Stifel Nicolaus increased their target price on Realty Income from $65.50 to $68.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Three research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Realty Income presently has a consensus rating of "Hold" and a consensus price target of $62.00.

Realty Income Stock Performance

NYSE:O traded up $0.62 during trading hours on Friday, reaching $58.75. 4,365,965 shares of the stock were exchanged, compared to its average volume of 5,375,138. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.72. The firm has a 50 day simple moving average of $57.64 and a 200-day simple moving average of $56.84. Realty Income Corporation has a 52 week low of $50.71 and a 52 week high of $64.88. The stock has a market capitalization of $53.72 billion, a P/E ratio of 57.04, a P/E/G ratio of 4.44 and a beta of 0.76.

Realty Income (NYSE:O - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. 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). The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. Realty Income had a return on equity of 2.34% and a net margin of 16.77%.The company's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the business posted $1.07 EPS. As a group, sell-side analysts forecast that Realty Income Corporation will post 4.19 earnings per share for the current fiscal year.

Realty Income Increases Dividend

The business also recently declared 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 positive change from Realty Income's previous monthly dividend of $0.26. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a c) annualized dividend and a dividend yield of 5.5%. Realty Income's dividend payout ratio (DPR) is 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.