State of Michigan Retirement System Grows Stock Holdings in Realty Income Co. (NYSE:O)

State of Michigan Retirement System grew its stake in Realty Income Co. (NYSE:O) by 0.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 237,548 shares of the real estate investment trust’s stock after purchasing an additional 400 shares during the period. State of Michigan Retirement System’s holdings in Realty Income were worth $12,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parnassus Investments LLC boosted its stake in Realty Income by 7.4% during the third quarter. Parnassus Investments LLC now owns 24,448,225 shares of the real estate investment trust’s stock worth $1,550,506,000 after buying an additional 1,676,293 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Realty Income by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 22,815,454 shares of the real estate investment trust’s stock valued at $1,445,036,000 after acquiring an additional 242,786 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Realty Income by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,729,229 shares of the real estate investment trust’s stock valued at $617,028,000 after acquiring an additional 463,286 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Realty Income by 765.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,545,815 shares of the real estate investment trust’s stock valued at $478,556,000 after purchasing an additional 6,673,617 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Realty Income by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 5,847,484 shares of the real estate investment trust’s stock worth $312,314,000 after purchasing an additional 50,670 shares during the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

Realty Income Stock Performance

NYSE O opened at $58.16 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.40. The company has a market cap of $51.85 billion, a P/E ratio of 55.39, a P/E/G ratio of 2.10 and a beta of 1.00. The stock has a 50-day moving average of $54.53 and a two-hundred day moving average of $57.89. Realty Income Co. has a 1-year low of $50.65 and a 1-year high of $64.88.

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

Realty Income Increases Dividend

The business also recently disclosed a mar 25 dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.268 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a dividend yield of 5.7%. This is a positive change from Realty Income’s previous mar 25 dividend of $0.26. Realty Income’s dividend payout ratio is currently 327.55%.

Analyst Ratings Changes

O has been the topic of several recent analyst reports. BNP Paribas lowered shares of Realty Income from an “outperform” rating to a “neutral” rating and set a $61.00 target price on the stock. in a report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft initiated coverage on Realty Income in a report on Wednesday, December 11th. They issued a “hold” rating and a $62.00 price objective on the stock. Barclays raised 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. Mizuho decreased their price target on Realty Income from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, Scotiabank lowered their price target on Realty Income from $59.00 to $57.00 and set a “sector perform” rating for the company in a report on Friday, February 28th. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $62.04.

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.