Northern Trust Corp Lowers Position in Realty Income Corporation $O

Key Points

• Northern Trust Corp has reduced its stake in Realty Income Corporation by 3.3%, holding approximately 12.7 million shares valued at $737 million.
• Realty Income has declared an increased monthly dividend of $0.269 per share, resulting in a 5.6% dividend yield, effective September 15th.
• Analysts remain cautiously optimistic, with a consensus rating of "Hold" and a price target of $61.73, while some firms have upgraded their price objectives on the stock.

Northern Trust Corp lowered its stake in shares of Realty Income Corporation (NYSE:O - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,708,712 shares of the real estate investment trust's stock after selling 431,007 shares during the period. Northern Trust Corp owned 1.41% of Realty Income worth $737,232,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in O. Victory Capital Management Inc. increased its position in shares of Realty Income by 5.3% during the first quarter. Victory Capital Management Inc. now owns 396,798 shares of the real estate investment trust's stock valued at $23,018,000 after buying an additional 19,965 shares during the period. Community Bank of Raymore increased its stake in Realty Income by 19.7% in the first quarter. Community Bank of Raymore now owns 148,864 shares of the real estate investment trust's stock valued at $8,636,000 after acquiring an additional 24,467 shares during the last quarter. Invesco Ltd. raised its position in Realty Income by 0.4% during the first 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. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Realty Income during the first quarter valued at about $1,470,000. Finally, Keyes Stange & Wooten Wealth Management LLC lifted its stake in Realty Income by 95.1% during the first quarter. Keyes Stange & Wooten Wealth Management LLC now owns 10,319 shares of the real estate investment trust's stock worth $599,000 after purchasing an additional 5,031 shares during the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on O shares. JPMorgan Chase & Co. reduced their price objective on Realty Income from $64.00 to $61.00 and set a "neutral" rating on the stock in a research report on Monday, May 5th. Barclays increased their price target on shares of Realty Income from $58.00 to $59.00 and gave the company an "equal weight" rating in a research report on Wednesday. Scotiabank boosted their price objective on shares of Realty Income from $57.00 to $58.00 and gave the stock a "sector perform" rating in a report on Monday, May 12th. Stifel Nicolaus upped their price objective on shares of Realty Income from $65.50 to $68.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Finally, Wedbush reaffirmed a "neutral" rating and set a $61.00 target price on shares of Realty Income in a report on Wednesday, May 7th. Three investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $61.82.

Realty Income Stock Down 0.5%

NYSE:O traded down $0.3010 during midday trading on Thursday, reaching $59.5990. 3,506,967 shares of the stock traded hands, compared to its average volume of 5,504,572. The stock has a market capitalization of $54.49 billion, a PE ratio of 57.86, a price-to-earnings-growth ratio of 4.51 and a beta of 0.76. Realty Income Corporation has a 12-month low of $50.71 and a 12-month high of $64.88. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.85 and a current ratio of 1.85. The business has a 50-day moving average of $57.49 and a two-hundred day moving average of $56.63.

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

Realty Income Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, September 15th. Stockholders 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 dividend yield of 5.4%. The ex-dividend date of this dividend is Tuesday, September 2nd. Realty Income's dividend payout ratio is currently 313.59%.

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.