State of Alaska Department of Revenue Grows Position in Realty Income Corporation $O

Key Points

• The State of Alaska Department of Revenue increased its stake in Realty Income Corporation by 1.8% during the 2nd quarter, now owning approximately 538,537 shares valued at $31 million.
• Realty Income announced an increase in its monthly dividend to $0.2695 per share, representing a yield of 5.4% annually, with the payout scheduled for October 15th.
• Analysts have mixed ratings for Realty Income, with price targets ranging from $58.00 to $66.00, while maintaining an overall average rating of "Hold".

State of Alaska Department of Revenue raised its position in shares of Realty Income Corporation (NYSE:O - Free Report) by 1.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 538,537 shares of the real estate investment trust's stock after buying an additional 9,635 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of Realty Income worth $31,023,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in O. Brighton Jones LLC grew its holdings in Realty Income by 11.2% during the 4th quarter. Brighton Jones LLC now owns 6,101 shares of the real estate investment trust's stock valued at $326,000 after buying an additional 615 shares in the last quarter. Bison Wealth LLC purchased a new position in Realty Income during the 4th quarter valued at approximately $571,000. B. Riley Wealth Advisors Inc. lifted 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 valued at $675,000 after purchasing an additional 241 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Realty Income by 69.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 253,399 shares of the real estate investment trust's stock valued at $13,534,000 after purchasing an additional 104,126 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Realty Income by 0.3% in the 4th quarter. Wellington Management Group LLP now owns 185,011 shares of the real estate investment trust's stock valued at $9,881,000 after purchasing an additional 487 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company's stock.

Realty Income Price Performance

Shares of O stock opened at $60.28 on Friday. Realty Income Corporation has a 52-week low of $50.71 and a 52-week high of $64.88. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a market capitalization of $55.11 billion, a P/E ratio of 58.52, a P/E/G ratio of 4.57 and a beta of 0.77. The stock has a 50 day moving average price of $58.44 and a 200 day moving average price of $57.23.

Realty Income (NYSE:O - Get Free Report) last issued 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). The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.33 billion. Realty Income had a return on equity of 2.34% and a net margin of 16.77%.Realty Income's revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.07 earnings per share. As a group, sell-side analysts predict that Realty Income Corporation will post 4.19 earnings per share for the current year.

Realty Income Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.2695 per share. This is a boost from Realty Income's previous monthly dividend of $0.27. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a c) dividend on an annualized basis and a yield of 5.4%. Realty Income's dividend payout ratio is presently 313.59%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on O. Mizuho raised their price objective on Realty Income from $60.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, September 11th. Scotiabank raised their price objective on Realty Income from $58.00 to $60.00 and gave the company a "sector perform" rating in a research note on Thursday, August 28th. UBS Group raised their price objective on Realty Income from $62.00 to $66.00 and gave the company a "buy" rating in a research note on Friday, August 15th. Wolfe Research lowered Realty Income from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Finally, Barclays raised their price objective 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. Three research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Realty Income currently has an average rating of "Hold" and an average price target of $62.36.

Realty Income Company 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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