Mattern Capital Management LLC Cuts Stock Holdings in Realty Income Corporation $O

Key Points

• Mattern Capital Management cut its Realty Income stake by 34.1% in the first quarter, selling 47,542 shares and leaving it with 91,836 shares valued at about $5.62 million.
• Other large institutional investors have been active in the stock, and hedge funds and institutions still own 70.81% of Realty Income’s shares.
• Realty Income recently boosted its financial flexibility by expanding its revolving credit facilities to $5.5 billion and its commercial paper program to $5.5 billion, while also continuing to pay a monthly dividend with a roughly 5.1% yield.

Mattern Capital Management LLC decreased its position in Realty Income Corporation (NYSE:O - Free Report) by 34.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,836 shares of the real estate investment trust's stock after selling 47,542 shares during the quarter. Mattern Capital Management LLC's holdings in Realty Income were worth $5,619,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in Realty Income during the fourth quarter worth about $558,775,000. Morgan Stanley increased its stake in Realty Income by 21.6% in the 4th quarter. Morgan Stanley now owns 18,291,294 shares of the real estate investment trust's stock valued at $1,031,080,000 after buying an additional 3,252,091 shares during the last quarter. Deutsche Bank AG lifted its position in shares of Realty Income by 45.1% during the 4th quarter. Deutsche Bank AG now owns 4,998,963 shares of the real estate investment trust's stock worth $281,792,000 after buying an additional 1,554,726 shares in the last quarter. State Street Corp lifted its position in shares of Realty Income by 2.1% during the 3rd quarter. State Street Corp now owns 63,028,892 shares of the real estate investment trust's stock worth $3,831,526,000 after buying an additional 1,295,936 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Realty Income by 8.3% in the 4th quarter. Legal & General Group Plc now owns 10,699,509 shares of the real estate investment trust's stock worth $603,131,000 after buying an additional 823,489 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company's stock.

More Realty Income News

Here are the key news stories impacting Realty Income this week:

• Positive Sentiment: Realty Income expanded its multicurrency unsecured revolving credit facilities to $5.5 billion from $4.0 billion, with an accordion feature that could push capacity to $6.5 billion if lenders commit. Realty Income Recasts and Expands Revolving Credit Facilities to $5.5 Billion and Commercial Paper Programs to $5.5 Billion
• Positive Sentiment: The company also increased its global commercial paper program capacity to $5.5 billion from $3.0 billion, improving short-term liquidity and financing flexibility. Realty Income Recasts and Expands Revolving Credit Facilities to $5.5 Billion and Commercial Paper Programs to $5.5 Billion
• Positive Sentiment: Analysts and market commentary highlighted that the expanded credit lines, longer maturities, and broader currency access could modestly lower borrowing costs and give Realty Income more room to fund its Europe expansion and deal pipeline. How Investors May Respond To Realty Income (O) Expanding Its US$5.5 Billion Multicurrency Credit Capacity
• Neutral Sentiment: Separately, reports said Realty Income may be in talks on a potential UK property financing deal involving Morrisons, which could be viewed as a possible growth opportunity but remains unconfirmed. Morrisons plots £600m deal to fund fightback against Lidl

Realty Income Stock Up 1.3%

O opened at $64.10 on Tuesday. Realty Income Corporation has a 12 month low of $55.86 and a 12 month high of $67.93. The company has a market cap of $59.78 billion, a PE ratio of 52.54, a price-to-earnings-growth ratio of 4.94 and a beta of 0.72. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.72. The company has a 50 day moving average of $61.99 and a 200 day moving average of $62.22.

Realty Income (NYSE:O - Get Free Report) last issued its earnings results on Wednesday, May 6th. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.03. The business had revenue of $1.55 billion for the quarter, compared to analysts' expectations of $1.39 billion. Realty Income had a net margin of 18.94% and a return on equity of 2.80%. The business's revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.06 EPS. Realty Income has set its FY 2026 guidance at 4.410-4.440 EPS. On average, sell-side analysts expect that Realty Income Corporation will post 4.45 EPS for the current year.

Realty Income Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a $0.271 dividend. The ex-dividend date is Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 5.1%. Realty Income's payout ratio is 266.39%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on O shares. UBS Group set a $67.00 target price on Realty Income in a report on Thursday, June 18th. Scotiabank dropped their price target on Realty Income from $72.00 to $67.00 and set a "sector outperform" rating on the stock in a report on Thursday, June 18th. Stifel Nicolaus set a $70.75 price objective on Realty Income in a research report on Tuesday, June 30th. Royal Bank Of Canada upped their price objective on Realty Income from $70.00 to $71.00 and gave the company an "outperform" rating in a research note on Thursday, May 7th. Finally, Jefferies Financial Group started coverage on Realty Income in a research report on Monday, June 1st. They set a "buy" rating and a $69.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $66.65.

Realty Income Company Profile

Realty Income Corporation NYSE: O is a real estate investment trust (REIT) that acquires, owns and manages commercial properties subject primarily to long-term net lease agreements. The company's business model focuses on generating predictable, contractual rental income by leasing properties to tenants under agreements that typically place responsibility for taxes, insurance and maintenance on the tenant. Realty Income is publicly traded on the New York Stock Exchange and markets itself as a reliable income-oriented REIT.

Realty Income's portfolio is concentrated in single-tenant, retail and service-oriented properties such as drugstores, convenience stores, dollar and discount retailers, restaurants, and other essential-service businesses.

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