Realty Income Corporation $O Position Boosted by New York State Teachers Retirement System

Key Points

• The New York State Teachers Retirement System boosted its stake in Realty Income Corporation by 6.2%, owning approximately $43.65 million worth of shares as of the latest report.
• Realty Income's quarterly earnings showed an EPS of $1.05, slightly missing analyst expectations, with revenue increasing by 5.3% year-over-year.
• The company plans to issue a monthly dividend of $0.2695 per share, representing a dividend yield of 5.5%, payable on November 14th.

New York State Teachers Retirement System increased its holdings in Realty Income Corporation (NYSE:O - Free Report) by 6.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 757,686 shares of the real estate investment trust's stock after buying an additional 44,083 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of Realty Income worth $43,650,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Realty Income by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 142,511,359 shares of the real estate investment trust's stock worth $8,267,084,000 after buying an additional 3,274,853 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Realty Income by 3.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,108,561 shares of the real estate investment trust's stock worth $702,381,000 after buying an additional 451,307 shares in the last quarter. Invesco Ltd. grew its holdings in Realty Income by 0.4% in the 1st quarter. Invesco Ltd. now owns 11,421,973 shares of the real estate investment trust's stock worth $662,589,000 after buying an additional 48,024 shares in the last quarter. Raymond James Financial Inc. boosted its stake in Realty Income by 9.6% during the 1st quarter. Raymond James Financial Inc. now owns 11,356,883 shares of the real estate investment trust's stock valued at $658,813,000 after purchasing an additional 992,303 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Realty Income by 1.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,112,801 shares of the real estate investment trust's stock valued at $586,644,000 after purchasing an additional 123,501 shares in the last quarter. 70.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on O shares. Wolfe Research lowered Realty Income from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Realty Income in a research note on Wednesday, October 8th. Evercore ISI started coverage on Realty Income in a research note on Wednesday, October 1st. They set an "in-line" rating and a $62.00 price target for the company. Barclays increased their price target on Realty Income from $58.00 to $59.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 20th. Finally, Mizuho increased their price target on Realty Income from $60.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, September 11th. Three equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, Realty Income has a consensus rating of "Hold" and a consensus price target of $62.25.

Insider Activity at Realty Income

In other news, Director Mary Hogan Preusse sold 11,000 shares of the stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $60.43, for a total transaction of $664,730.00. Following the completion of the sale, the director owned 19,211 shares in the company, valued at approximately $1,160,920.73. This represents a 36.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.10% of the company's stock.

Realty Income Price Performance

Shares of NYSE:O opened at $59.28 on Friday. Realty Income Corporation has a one year low of $50.71 and a one year high of $64.88. The stock has a fifty day moving average of $59.11 and a 200-day moving average of $57.53. The company has a market capitalization of $54.20 billion, a PE ratio of 57.55, a price-to-earnings-growth ratio of 4.54 and a beta of 0.78. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.85 and a current ratio of 1.85.

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

Realty Income Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be given a dividend of $0.2695 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date is Friday, October 31st. Realty Income's dividend payout ratio is 313.59%.

About Realty Income

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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