Russell Investments Group Ltd. Has $74.79 Million Stock Position in Realty Income Co. (NYSE:O)

Russell Investments Group Ltd. cut its stake in Realty Income Co. (NYSE:O) by 53.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,400,633 shares of the real estate investment trust’s stock after selling 1,628,301 shares during the period. Russell Investments Group Ltd.’s holdings in Realty Income were worth $74,786,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new position in Realty Income during the fourth quarter worth $624,666,000. Raymond James Financial Inc. acquired a new stake in shares of Realty Income during the 4th quarter worth about $553,572,000. California Public Employees Retirement System lifted its holdings in Realty Income by 26.7% during the 4th quarter. California Public Employees Retirement System now owns 3,849,998 shares of the real estate investment trust’s stock valued at $205,628,000 after purchasing an additional 811,037 shares during the last quarter. Geode Capital Management LLC boosted its position in 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 valued at $1,253,584,000 after buying an additional 658,240 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Realty Income by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 139,236,506 shares of the real estate investment trust’s stock worth $7,436,622,000 after buying an additional 555,908 shares during the last quarter. Institutional investors own 70.81% of the company’s stock.

Wall Street Analysts Forecast Growth

O has been the subject of a number of research analyst reports. Mizuho lifted their target price on shares of Realty Income from $54.00 to $59.00 and gave the company a “neutral” rating in a research note on Thursday. Stifel Nicolaus cut their price objective on Realty Income from $70.00 to $66.50 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Realty Income in a report on Wednesday, December 11th. They set a “hold” rating and a $62.00 target price on the stock. BNP Paribas cut Realty Income from an “outperform” rating to a “neutral” rating and set a $61.00 price target for the company. in a report on Tuesday, February 25th. Finally, Barclays upped their price target on shares of Realty Income from $56.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $62.42.

Realty Income Stock Down 3.4 %

Shares of NYSE:O opened at $55.11 on Friday. 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 stock has a market cap of $49.15 billion, a price-to-earnings ratio of 52.49, a P/E/G ratio of 2.10 and a beta of 1.00. The company has a 50 day moving average of $56.03 and a 200-day moving average of $57.08. Realty Income Co. has a one year low of $50.65 and a one year high of $64.88.

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

Realty Income Increases Dividend

The business also recently announced a apr 25 dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.2685 dividend. This is a positive change 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%.

About Realty Income

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.