OMERS ADMINISTRATION Corp Decreases Stake in Realty Income Corporation $O

Key Points

• OMERS ADMINISTRATION Corp reduced its holdings in Realty Income Corporation by 2.3% in the first quarter, now owning 210,569 shares worth approximately $12.2 million.
• Realty Income recently announced a monthly dividend increase to $0.269 per share, representing an annualized yield of 5.5%.
• Despite a slight earnings miss in its latest quarter, Realty Income reported a revenue increase of 5.3% year-over-year, with revenues reaching $1.34 billion.

OMERS ADMINISTRATION Corp reduced its position in Realty Income Corporation (NYSE:O - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 210,569 shares of the real estate investment trust's stock after selling 4,975 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Realty Income were worth $12,215,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of 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 acquiring an additional 3,274,853 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of 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 acquiring an additional 451,307 shares during the last quarter. Invesco Ltd. increased its stake in shares of 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 acquiring an additional 48,024 shares during the last quarter. Raymond James Financial Inc. increased its stake in shares of Realty Income by 9.6% in the 1st quarter. Raymond James Financial Inc. now owns 11,356,883 shares of the real estate investment trust's stock worth $658,813,000 after acquiring an additional 992,303 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Realty Income by 1.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,112,801 shares of the real estate investment trust's stock worth $586,644,000 after acquiring an additional 123,501 shares during the last quarter. 70.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on O shares. UBS Group raised their target price on Realty Income from $62.00 to $66.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. JPMorgan Chase & Co. cut their target price on Realty Income from $64.00 to $61.00 and set a "neutral" rating for the company in a research note on Monday, May 5th. Stifel Nicolaus raised their target price on Realty Income from $65.50 to $68.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Scotiabank raised their target price on Realty Income from $58.00 to $60.00 and gave the stock a "sector perform" rating in a research note on Thursday. Finally, Wolfe Research downgraded Realty Income from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. Three investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $62.00.

Realty Income Trading Up 1.1%

Realty Income stock traded up $0.62 during midday trading on Friday, reaching $58.75. 4,365,965 shares of the stock traded hands, compared to its average volume of 5,375,138. The company has a 50-day simple moving average of $57.64 and a two-hundred day simple moving average of $56.86. Realty Income Corporation has a 12-month low of $50.71 and a 12-month high of $64.88. The firm has a market cap of $53.72 billion, a PE ratio of 57.04, a price-to-earnings-growth ratio of 4.49 and a beta of 0.76. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.72.

Realty Income (NYSE:O - Get Free Report) last announced its earnings results 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 firm had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.33 billion. During the same quarter last year, the business earned $1.07 earnings per share. The business's revenue was up 5.3% compared to the same quarter last year. Research analysts expect that Realty Income Corporation will post 4.19 earnings per share for the current fiscal year.

Realty Income Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.269 per share. This is a positive change from Realty Income's previous monthly dividend of $0.26. The ex-dividend date is Tuesday, September 2nd. This represents a c) dividend on an annualized basis and a yield of 5.5%. Realty Income's dividend payout ratio (DPR) is 312.62%.

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.