MetLife Investment Management LLC Decreases Position in Realty Income Corporation $O

Key Points

• MetLife Investment Management LLC reduced its stake in Realty Income Corporation by 2.0%, owning 252,247 shares valued at approximately $14.63 million after selling 5,034 shares.
• Realty Income's latest earnings report showed an EPS of $1.05, slightly missing estimates, with revenues up by 5.3% year-over-year, totaling $1.34 billion.
• The company announced an increase in its monthly dividend from $0.26 to $0.269, yielding approximately 5.5%, with the next payment scheduled for September 15th.

MetLife Investment Management LLC cut its stake in shares of Realty Income Corporation (NYSE:O - Free Report) by 2.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 252,247 shares of the real estate investment trust's stock after selling 5,034 shares during the quarter. MetLife Investment Management LLC's holdings in Realty Income were worth $14,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. N.E.W. Advisory Services LLC lifted its holdings in Realty Income by 1.2% in the first quarter. N.E.W. Advisory Services LLC now owns 15,503 shares of the real estate investment trust's stock valued at $899,000 after acquiring an additional 186 shares during the period. Associated Banc Corp boosted its stake in shares of Realty Income by 1.9% during the 1st quarter. Associated Banc Corp now owns 10,252 shares of the real estate investment trust's stock worth $595,000 after acquiring an additional 192 shares during the last quarter. Kentucky Trust Co increased its stake in shares of Realty Income by 2.6% in the 1st quarter. Kentucky Trust Co now owns 9,035 shares of the real estate investment trust's stock worth $524,000 after purchasing an additional 225 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its stake in shares of Realty Income by 1.9% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 12,640 shares of the real estate investment trust's stock worth $675,000 after purchasing an additional 241 shares in the last quarter. Finally, Alliance Wealth Advisors LLC UT increased its stake in shares of Realty Income by 0.7% in the 1st quarter. Alliance Wealth Advisors LLC UT now owns 36,915 shares of the real estate investment trust's stock worth $2,141,000 after purchasing an additional 247 shares in the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Realty Income Stock Down 0.8%

Shares of O stock traded down $0.45 during mid-day trading on Thursday, hitting $58.10. The stock had a trading volume of 5,005,845 shares, compared to its average volume of 5,546,768. Realty Income Corporation has a 12-month low of $50.71 and a 12-month high of $64.88. The firm has a market capitalization of $53.12 billion, a P/E ratio of 56.41, a price-to-earnings-growth ratio of 4.44 and a beta of 0.76. The firm's 50-day moving average is $57.60 and its two-hundred day moving average is $56.78. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.85 and a quick ratio of 1.85.

Realty Income (NYSE:O - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $1.05 earnings per share (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 during the quarter, compared to analysts' expectations of $1.33 billion. During the same quarter in the prior year, the business posted $1.07 earnings per share. The company's revenue was up 5.3% compared to the same quarter last year. On average, analysts predict that Realty Income Corporation will post 4.19 earnings per share for the current fiscal year.

Realty Income Increases Dividend

The business also recently declared 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. The ex-dividend date is Tuesday, September 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 5.6%. This is a boost from Realty Income's previous monthly dividend of $0.26. Realty Income's dividend payout ratio (DPR) is 312.62%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wolfe Research cut shares of Realty Income from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Stifel Nicolaus lifted their target price on Realty Income from $65.50 to $68.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Barclays boosted their price objective 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, August 20th. JPMorgan Chase & Co. dropped their price target 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. Finally, Wedbush reissued a "neutral" rating and issued a $61.00 price objective on shares of Realty Income in a research report on Wednesday, May 7th. Three research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Realty Income has an average rating of "Hold" and a consensus target price of $62.00.

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.