Griffin Asset Management Inc. lowered its position in Realty Income Corporation (NYSE:O - Free Report) by 66.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,796 shares of the real estate investment trust's stock after selling 13,187 shares during the period. Griffin Asset Management Inc.'s holdings in Realty Income were worth $394,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in O. Norges Bank purchased a new stake in shares of Realty Income in the 4th quarter worth approximately $624,666,000. Raymond James Financial Inc. purchased a new stake in Realty Income during the 4th quarter valued at $553,572,000. Northern Trust Corp boosted its stake in Realty Income by 41.2% during 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 during the last quarter. California Public Employees Retirement System increased its holdings in shares of Realty Income by 26.7% in 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 purchasing an additional 811,037 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Realty Income by 6,002.1% in the first quarter. GAMMA Investing LLC now owns 706,562 shares of the real estate investment trust's stock worth $40,988,000 after purchasing an additional 694,983 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company's stock.
Analyst Upgrades and Downgrades
O has been the topic of several recent analyst reports. BNP Paribas cut Realty Income from an "outperform" rating to a "neutral" rating and set a $61.00 price objective on the stock. in a research report on Tuesday, February 25th. Wedbush reaffirmed a "neutral" rating and set a $61.00 price objective on shares of Realty Income in a research report on Wednesday, May 7th. UBS Group dropped their price objective on Realty Income from $64.00 to $62.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Mizuho increased their price objective 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, Stifel Nicolaus increased their target price on Realty Income from $65.50 to $68.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Realty Income presently has an average rating of "Hold" and an average target price of $61.15.
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Realty Income Stock Performance
Shares of NYSE O traded up $0.09 during trading on Wednesday, hitting $57.62. The company had a trading volume of 2,543,116 shares, compared to its average volume of 5,203,864. The stock has a 50 day simple moving average of $56.56 and a 200 day simple moving average of $55.55. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.74 and a current ratio of 1.74. Realty Income Corporation has a 12 month low of $50.71 and a 12 month high of $64.88. The firm has a market capitalization of $52.03 billion, a P/E ratio of 52.38, a price-to-earnings-growth ratio of 4.01 and a beta of 0.76.
Realty Income (NYSE:O - Get Free Report) last issued its earnings results on Monday, May 5th. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.06. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.28 billion. Realty Income had a return on equity of 2.51% and a net margin of 18.15%. The firm's quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the company earned $1.03 EPS. As a group, analysts anticipate that Realty Income Corporation will post 4.19 earnings per share for the current year.
Realty Income Increases Dividend
The firm also recently announced a jul 25 dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid a dividend of $0.269 per share. This represents a yield of 5.6%. The ex-dividend date is Tuesday, July 1st. This is an increase from Realty Income's previous jul 25 dividend of $0.27. Realty Income's dividend payout ratio (DPR) is 292.73%.
Realty Income Company Profile
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Free Report)
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.
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