New York State Common Retirement Fund Sells 59,800 Shares of Realty Income Corporation (NYSE:O)

New York State Common Retirement Fund cut its position in shares of Realty Income Corporation (NYSE:O - Free Report) by 11.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 462,003 shares of the real estate investment trust's stock after selling 59,800 shares during the quarter. New York State Common Retirement Fund owned about 0.05% of Realty Income worth $26,801,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Realty Income by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 139,236,506 shares of the real estate investment trust's stock worth $7,436,622,000 after purchasing an additional 555,908 shares during the period. Geode Capital Management LLC grew its holdings in Realty Income by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 23,473,694 shares of the real estate investment trust's stock worth $1,253,584,000 after purchasing an additional 658,240 shares during the period. Northern Trust Corp grew 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 worth $701,792,000 after purchasing an additional 3,834,403 shares during the period. Norges Bank acquired a new stake in Realty Income in the fourth quarter worth $624,666,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in Realty Income by 2.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,318,686 shares of the real estate investment trust's stock worth $230,663,000 after purchasing an additional 110,694 shares during the period. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on O shares. Scotiabank boosted their target price on shares of Realty Income from $57.00 to $58.00 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. UBS Group decreased their target price on shares of Realty Income from $64.00 to $62.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Wolfe Research downgraded shares of Realty Income from an "outperform" rating to a "peer perform" rating in a research report on Monday. JPMorgan Chase & Co. decreased their target price on shares of Realty Income from $64.00 to $61.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Finally, Barclays reissued an "overweight" rating on shares of Realty Income in a research report on Tuesday, April 22nd. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $61.15.

Realty Income Price Performance

Shares of Realty Income stock traded up $0.14 on Friday, hitting $56.50. 1,040,715 shares of the company traded hands, compared to its average volume of 5,280,106. The company has a market cap of $51.02 billion, a P/E ratio of 51.34, a P/E/G ratio of 3.98 and a beta of 0.75. Realty Income Corporation has a 12-month low of $50.71 and a 12-month high of $64.88. The firm's 50-day simple moving average is $56.78 and its 200 day simple moving average is $56.00. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.69.

Realty Income (NYSE:O - Get Free Report) last issued its earnings results on Monday, May 5th. The real estate investment trust reported $1.06 EPS for the quarter, hitting analysts' consensus estimates of $1.06. The company had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.28 billion. Realty Income had a net margin of 18.15% and a return on equity of 2.51%. The firm's revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 EPS. Analysts expect that Realty Income Corporation will post 4.19 earnings per share for the current fiscal year.

Realty Income Announces Dividend

The company also recently declared a aug 25 dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be issued a $0.269 dividend. This represents a yield of 5.7%. The ex-dividend date of this dividend is Friday, August 1st. Realty Income's dividend payout ratio (DPR) is presently 293.64%.

Realty Income Company Profile

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.