Northern Trust Corp Buys 3,834,403 Shares of Realty Income Co. (NYSE:O)

Northern Trust Corp raised its stake in shares of Realty Income Co. (NYSE:O - Free Report) by 41.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,139,719 shares of the real estate investment trust's stock after buying an additional 3,834,403 shares during the period. Northern Trust Corp owned approximately 1.50% of Realty Income worth $701,792,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Realty Income by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 139,236,506 shares of the real estate investment trust's stock valued at $7,436,622,000 after buying an additional 555,908 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Realty Income by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 23,473,694 shares of the real estate investment trust's stock valued at $1,253,584,000 after purchasing an additional 658,240 shares in the last quarter. Norges Bank acquired a new position in shares of Realty Income in the 4th quarter worth approximately $624,666,000. Raymond James Financial Inc. acquired a new position in shares of Realty Income in the 4th quarter worth approximately $553,572,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Realty Income by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,989,300 shares of the real estate investment trust's stock worth $533,529,000 after purchasing an additional 260,071 shares in the last quarter. 70.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on O shares. Mizuho raised their target price on shares of Realty Income from $54.00 to $59.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Stifel Nicolaus reduced their price objective on Realty Income from $70.00 to $66.50 and set a "buy" rating for the company in a research note on Wednesday, January 8th. Scotiabank cut their target price on Realty Income from $59.00 to $57.00 and set a "sector perform" rating on the stock in a research report on Friday, February 28th. BNP Paribas lowered Realty Income from an "outperform" rating to a "neutral" rating and set a $61.00 price target for the company. in a research report on Tuesday, February 25th. Finally, Royal Bank of Canada dropped their price target on Realty Income from $62.00 to $60.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $62.35.

Realty Income Stock Down 0.4 %

Shares of NYSE:O traded down $0.23 during trading on Friday, reaching $56.94. 4,290,280 shares of the company traded hands, compared to its average volume of 5,222,594. The firm has a fifty day simple moving average of $56.56 and a 200 day simple moving average of $56.29. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.68. Realty Income Co. has a 1-year low of $50.71 and a 1-year high of $64.88. The firm has a market cap of $50.78 billion, a P/E ratio of 54.23, a price-to-earnings-growth ratio of 2.10 and a beta of 0.78.

Realty Income (NYSE:O - Get Free Report) last released its quarterly earnings data on Monday, February 24th. 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 17.57% and a return on equity of 2.35%. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.28 billion. Analysts anticipate that Realty Income Co. will post 4.19 earnings per share for the current fiscal year.

Realty Income Dividend Announcement

The firm also recently disclosed a may 25 dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be given a dividend of $0.2685 per share. This represents a yield of 6%. The ex-dividend date of this dividend is Thursday, May 1st. Realty Income's payout ratio is presently 328.57%.

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.