Employees Retirement System of Texas Purchases 78,000 Shares of Realty Income Co. (NYSE:O)

Employees Retirement System of Texas increased its holdings in Realty Income Co. (NYSE:O) by 19.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 488,183 shares of the real estate investment trust’s stock after acquiring an additional 78,000 shares during the period. Employees Retirement System of Texas’ holdings in Realty Income were worth $26,074,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Lee Danner & Bass Inc. bought a new position in shares of Realty Income during the 4th quarter valued at approximately $28,000. Hopwood Financial Services Inc. purchased a new stake in shares of Realty Income during the fourth quarter worth $29,000. Sierra Ocean LLC bought a new position in Realty Income in the 4th quarter worth about $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 stake in shares of Realty Income in the fourth quarter worth about $37,000. Institutional investors own 70.81% of the company’s stock.

Realty Income Trading Down 3.4 %

NYSE O opened at $55.11 on Monday. The company has a 50 day moving average price of $56.03 and a 200 day moving average price of $57.05. The firm has a market cap of $49.15 billion, a PE ratio of 52.49, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. Realty Income Co. has a 52 week low of $50.65 and a 52 week high of $64.88. 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 (NYSE:O) last issued its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $1.05 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.01). The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Realty Income had a return on equity of 2.35% and a net margin of 17.57%. As a group, sell-side 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. Shareholders of record on Tuesday, April 1st will be issued a $0.2685 dividend. This represents a yield of 5.7%. This is a positive change from Realty Income’s previous apr 25 dividend of $0.27. The ex-dividend date is Tuesday, April 1st. Realty Income’s payout ratio is presently 328.57%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Royal Bank of Canada lowered their price target on Realty Income from $62.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Mizuho raised their price target on Realty Income from $54.00 to $59.00 and gave the company a “neutral” rating in a research report on Thursday. BNP Paribas downgraded Realty Income from an “outperform” rating to a “neutral” rating and set a $61.00 target price for the company. in a research report on Tuesday, February 25th. Barclays increased their target price on Realty Income from $56.00 to $59.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Finally, Stifel Nicolaus cut their target price on shares of Realty Income from $70.00 to $66.50 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $62.42.

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.