Freedom Investment Management Inc. Increases Position in Realty Income Co. (NYSE:O)

Freedom Investment Management Inc. lifted its stake in Realty Income Co. (NYSE:O) by 34.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,959 shares of the real estate investment trust’s stock after purchasing an additional 1,774 shares during the quarter. Freedom Investment Management Inc.’s holdings in Realty Income were worth $372,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Realty Income during the fourth quarter valued at approximately $624,666,000. Raymond James Financial Inc. purchased a new stake in Realty Income during the 4th quarter valued at $553,572,000. California Public Employees Retirement System increased its holdings in shares of Realty Income by 26.7% in the 4th quarter. California Public Employees Retirement System now owns 3,849,998 shares of the real estate investment trust’s stock worth $205,628,000 after purchasing an additional 811,037 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Realty Income by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 23,473,694 shares of the real estate investment trust’s stock worth $1,253,584,000 after purchasing an additional 658,240 shares during the last quarter. Finally, Demars Financial Group LLC bought a new position in shares of Realty Income during the fourth quarter valued at $30,817,000. Institutional investors own 70.81% of the company’s stock.

Realty Income Price Performance

Shares of Realty Income stock opened at $58.02 on Tuesday. The company has a market capitalization of $51.74 billion, a price-to-earnings ratio of 55.26, a PEG ratio of 2.10 and a beta of 0.79. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.68. The stock’s 50-day simple moving average is $56.27 and its 200-day simple moving average is $56.45. Realty Income Co. has a 52 week low of $50.71 and a 52 week high of $64.88.

Realty Income (NYSE:O) last posted its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.01). The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.28 billion. Realty Income had a return on equity of 2.35% and a net margin of 17.57%. As a group, analysts expect that Realty Income Co. will post 4.19 earnings per share for the current fiscal year.

Realty Income Dividend Announcement

The business also recently declared a may 25 dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be paid a $0.2685 dividend. This represents a yield of 6%. The ex-dividend date of this dividend is Thursday, May 1st. Realty Income’s payout ratio is currently 328.57%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on O. 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 report on Tuesday, March 4th. Mizuho boosted their price objective on shares of Realty Income from $54.00 to $59.00 and gave the company a “neutral” rating in a report on Thursday, April 3rd. Royal Bank of Canada dropped their target price on shares of Realty Income from $62.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Stifel Nicolaus lowered their price target on Realty Income from $70.00 to $66.50 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, Scotiabank dropped their price target on Realty Income from $59.00 to $57.00 and set a “sector perform” rating on the stock in a research note on Friday, February 28th. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price 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.