Realty Income Corporation $O Stake Raised by Allstate Corp

Key Points

• Allstate Corp increased its stake in Realty Income Corporation by 14.0%, purchasing an additional 7,945 shares, bringing its total holdings to 64,752 shares valued at approximately $3.76 million.
• Realty Income announced a monthly dividend increase to $0.269 per share, representing an annual yield of 5.4%, with the payment set for September 15th.
• The company's quarterly earnings report showed an EPS of $1.05, slightly missing consensus estimates, while revenues increased 5.3% year-over-year to $1.34 billion.

Allstate Corp boosted its stake in shares of Realty Income Corporation (NYSE:O - Free Report) by 14.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 64,752 shares of the real estate investment trust's stock after buying an additional 7,945 shares during the period. Allstate Corp's holdings in Realty Income were worth $3,756,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Keystone Global Partners LLC bought a new stake in shares of Realty Income in the first quarter valued at approximately $26,000. PSI Advisors LLC boosted its holdings in Realty Income by 78.3% in 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 last quarter. Fourth Dimension Wealth LLC bought a new position in Realty Income in the fourth quarter valued at about $34,000. 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 worth $36,000 after buying an additional 455 shares during the last quarter. Finally, Orion Capital Management LLC acquired a new stake in shares of Realty Income during the fourth quarter worth about $37,000. Institutional investors own 70.81% of the company's stock.

Realty Income Trading Down 0.6%

NYSE O opened at $59.5650 on Friday. The business has a 50 day simple moving average of $57.52 and a 200 day simple moving average of $56.66. Realty Income Corporation has a one year low of $50.71 and a one year high of $64.88. The stock has a market capitalization of $54.46 billion, a P/E ratio of 57.83, a P/E/G ratio of 4.58 and a beta of 0.76. 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 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 firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the business posted $1.07 EPS. The company's revenue was up 5.3% on a year-over-year basis. Research analysts expect that Realty Income Corporation will post 4.19 earnings per share for the current year.

Realty Income Increases Dividend

The firm also recently declared 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 represents a c) dividend on an annualized basis and a yield of 5.4%. This is an increase from Realty Income's previous monthly dividend of $0.26. The ex-dividend date is Tuesday, September 2nd. Realty Income's dividend payout ratio is 312.62%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on O shares. Barclays lifted their target price on Realty Income from $58.00 to $59.00 and gave the company an "equal weight" rating in a research report on Wednesday. Wolfe Research downgraded Realty Income from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. reduced their price target 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. UBS Group lifted their price objective on Realty Income from $62.00 to $66.00 and gave the company a "buy" rating in a report on Friday, August 15th. Finally, Wedbush reaffirmed a "neutral" rating and issued a $61.00 price objective on shares of Realty Income in a report on Wednesday, May 7th. Three research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $61.82.

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.

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