Wells Fargo & Company MN Reduces Stake in Realty Income Co. (NYSE:O)

Wells Fargo & Company MN lessened its position in shares of Realty Income Co. (NYSE:O) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,958,769 shares of the real estate investment trust’s stock after selling 148,786 shares during the quarter. Wells Fargo & Company MN’s holdings in Realty Income were worth $264,848,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Lee Danner & Bass Inc. bought a new stake in shares of Realty Income during the 4th quarter valued at $28,000. Hopwood Financial Services Inc. bought a new stake in Realty Income during the fourth quarter valued at about $29,000. Sierra Ocean LLC purchased a new stake in Realty Income in the fourth quarter worth about $32,000. Millstone Evans Group LLC bought a new position in shares of Realty Income in the fourth quarter worth about $34,000. Finally, BankPlus Trust Department purchased a new position in shares of Realty Income during the 4th quarter valued at about $37,000. Institutional investors own 70.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Scotiabank reduced their target price on shares of Realty Income from $59.00 to $57.00 and set a “sector perform” rating for the company in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Realty Income in a research report on Wednesday, December 11th. They set a “hold” rating and a $62.00 price objective on the stock. Stifel Nicolaus dropped their target price on shares of Realty Income from $70.00 to $66.50 and set a “buy” rating for the company in a report on Wednesday, January 8th. BNP Paribas cut Realty Income from an “outperform” rating to a “neutral” rating and set a $61.00 price target on the stock. in a report on Tuesday, February 25th. Finally, Barclays upped their price objective 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. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Realty Income presently has a consensus rating of “Hold” and a consensus target price of $62.42.

Realty Income Price Performance

O stock opened at $55.11 on Friday. The stock has a market cap of $49.15 billion, a PE ratio of 52.49, a P/E/G ratio of 2.10 and a beta of 1.00. Realty Income Co. has a 12 month low of $50.65 and a 12 month high of $64.88. The company has a 50-day moving average price of $56.03 and a 200 day moving average price of $57.08. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.68.

Realty Income (NYSE:O) last issued its earnings results 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). The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Realty Income had a net margin of 17.57% and a return on equity of 2.35%. Equities research analysts anticipate that Realty Income Co. will post 4.19 earnings per share for the current year.

Realty Income Increases Dividend

The company also recently announced a apr 25 dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a dividend of $0.2685 per share. This is a boost from Realty Income’s previous apr 25 dividend of $0.27. The ex-dividend date is Tuesday, April 1st. This represents a yield of 5.7%. Realty Income’s dividend 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.