Realty Income Co. (NYSE:O) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lessened its holdings in Realty Income Co. (NYSE:O) by 3.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 252,129 shares of the real estate investment trust’s stock after selling 9,024 shares during the period. Corebridge Financial Inc.’s holdings in Realty Income were worth $13,466,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Lee Danner & Bass Inc. purchased a new stake in Realty Income in the fourth quarter valued at approximately $28,000. Hopwood Financial Services Inc. acquired a new stake in shares of Realty Income in the fourth quarter valued at $29,000. Sierra Ocean LLC purchased a new stake in shares of Realty Income in the 4th quarter valued at $32,000. Millstone Evans Group LLC purchased a new position in Realty Income during the 4th quarter valued at about $34,000. Finally, BankPlus Trust Department purchased a new position in Realty Income during the 4th quarter valued at about $37,000. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Realty Income Stock Performance

Shares of Realty Income stock opened at $55.64 on Wednesday. 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 52 week low of $50.65 and a 52 week high of $64.88. The firm’s 50 day moving average is $55.65 and its two-hundred day moving average is $57.38. The firm has a market capitalization of $49.60 billion, a P/E ratio of 52.99, a P/E/G ratio of 2.10 and a beta of 1.00.

Realty Income (NYSE:O) last posted its earnings results on Monday, February 24th. 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 17.57% and a return on equity of 2.35%. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Research analysts forecast that Realty Income Co. will post 4.19 EPS for the current fiscal year.

Realty Income Increases Dividend

The company also recently announced a apr 25 dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a $0.2685 dividend. This is an increase from Realty Income’s previous apr 25 dividend of $0.27. This represents a dividend yield of 5.7%. The ex-dividend date is Tuesday, April 1st. Realty Income’s payout ratio is presently 328.57%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Stifel Nicolaus lowered their price objective on shares of Realty Income from $70.00 to $66.50 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Mizuho dropped their price target on shares of Realty Income from $60.00 to $54.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft began coverage on Realty Income in a research note on Wednesday, December 11th. They issued a “hold” rating and a $62.00 price objective on the stock. Barclays boosted their target price on Realty Income from $56.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Finally, Scotiabank reduced their price target 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. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $62.04.

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.