Maryland State Retirement & Pension System Reduces Holdings in Realty Income Co. (NYSE:O)

Maryland State Retirement & Pension System lowered its stake in shares of Realty Income Co. (NYSE:O) by 7.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,540 shares of the real estate investment trust’s stock after selling 3,710 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Realty Income were worth $2,486,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in shares of Realty Income by 1.1% during the third quarter. Geode Capital Management LLC now owns 22,815,454 shares of the real estate investment trust’s stock worth $1,445,036,000 after buying an additional 242,786 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Realty Income during the fourth quarter worth about $553,572,000. Charles Schwab Investment Management Inc. increased its position in Realty Income by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,989,300 shares of the real estate investment trust’s stock worth $533,529,000 after purchasing an additional 260,071 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Realty Income by 765.1% during the 3rd 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 worth $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 4th 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 period. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Wall Street Analyst Weigh In

O has been the topic of several recent analyst reports. Scotiabank dropped their target price 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. 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. Deutsche Bank Aktiengesellschaft began coverage on Realty Income in a research report on Wednesday, December 11th. They set a “hold” rating and a $62.00 target price on the stock. 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, Stifel Nicolaus decreased their price target on Realty Income from $70.00 to $66.50 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $62.04.

Realty Income Price Performance

O stock opened at $56.45 on Friday. Realty Income Co. has a 1 year low of $50.65 and a 1 year high of $64.88. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.40 and a current ratio of 1.40. The stock’s 50 day moving average price is $55.44 and its 200 day moving average price is $57.58. The firm has a market cap of $50.33 billion, a P/E ratio of 53.76, a PEG 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 earnings per share (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. On average, sell-side analysts expect that Realty Income Co. will post 4.19 earnings per share for the current fiscal year.

Realty Income Increases Dividend

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

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.