Principal Financial Group Inc. Has $125.88 Million Stake in Realty Income Corporation (NYSE:O)

Principal Financial Group Inc. trimmed its holdings in shares of Realty Income Corporation (NYSE:O - Free Report) by 1.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,170,010 shares of the real estate investment trust's stock after selling 38,518 shares during the quarter. Principal Financial Group Inc. owned about 0.24% of Realty Income worth $125,882,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Lee Danner & Bass Inc. bought a new stake in Realty Income during the fourth quarter valued at about $28,000. Hopwood Financial Services Inc. bought a new stake in Realty Income during the fourth quarter valued at about $29,000. PSI Advisors LLC boosted its holdings in Realty Income by 78.3% during the first quarter. PSI Advisors LLC now owns 574 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 252 shares during the period. FSC Wealth Advisors LLC boosted its holdings in Realty Income by 288.0% during the first quarter. FSC Wealth Advisors LLC now owns 613 shares of the real estate investment trust's stock valued at $36,000 after acquiring an additional 455 shares during the period. Finally, Millstone Evans Group LLC bought a new stake in Realty Income during the fourth quarter valued at about $34,000. 70.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on O. Scotiabank upped their price target on shares of Realty Income from $57.00 to $58.00 and gave the company a "sector perform" rating in a report on Monday, May 12th. Wedbush reiterated a "neutral" rating and issued a $61.00 target price on shares of Realty Income in a research note on Wednesday, May 7th. Stifel Nicolaus increased their target price 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. Barclays reiterated an "overweight" rating on shares of Realty Income in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. reduced 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 note on Monday, May 5th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Realty Income has an average rating of "Hold" and an average target price of $61.15.

Realty Income Price Performance

O traded down $0.18 during midday trading on Monday, reaching $57.50. 4,688,413 shares of the company's stock were exchanged, compared to its average volume of 5,247,523. The firm has a market capitalization of $51.93 billion, a price-to-earnings ratio of 52.27, a price-to-earnings-growth ratio of 4.04 and a beta of 0.75. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.69. Realty Income Corporation has a one year low of $50.71 and a one year high of $64.88. The business has a 50-day simple moving average of $56.76 and a two-hundred day simple moving average of $55.81.

Realty Income (NYSE:O - Get Free Report) last announced its quarterly 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 firm had revenue of $1.31 billion during 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 company's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 earnings per share. As a group, research analysts predict that Realty Income Corporation will post 4.19 EPS for the current year.

Realty Income Increases Dividend

The firm also recently declared a jul 25 dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.269 per share. This is a boost from Realty Income's previous jul 25 dividend of $0.27. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a yield of 5.6%. Realty Income's dividend payout ratio (DPR) is currently 293.64%.

Realty Income 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.