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

State of Michigan Retirement System raised its position in shares of Realty Income Co. (NYSE:O) by 15.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 227,848 shares of the real estate investment trust’s stock after purchasing an additional 29,700 shares during the period. State of Michigan Retirement System’s holdings in Realty Income were worth $12,327,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of O. Vanguard Group Inc. raised its stake in Realty Income by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 113,920,054 shares of the real estate investment trust’s stock valued at $6,541,290,000 after purchasing an additional 3,046,630 shares during the period. Dimensional Fund Advisors LP grew its holdings in Realty Income by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,542,160 shares of the real estate investment trust’s stock valued at $547,931,000 after buying an additional 227,621 shares in the last quarter. Legal & General Group Plc raised its position in shares of Realty Income by 0.5% during the third quarter. Legal & General Group Plc now owns 8,882,413 shares of the real estate investment trust’s stock valued at $443,588,000 after buying an additional 47,437 shares during the last quarter. Norges Bank purchased a new position in shares of Realty Income in the fourth quarter worth $506,526,000. Finally, APG Asset Management US Inc. boosted its position in shares of Realty Income by 10.4% during the fourth quarter. APG Asset Management US Inc. now owns 8,221,575 shares of the real estate investment trust’s stock worth $472,083,000 after acquiring an additional 771,313 shares during the last quarter. 70.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $54.23, for a total transaction of $271,150.00. Following the completion of the transaction, the director now owns 6,257 shares in the company, valued at $339,317.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Scotiabank lifted their price target on shares of Realty Income from $54.00 to $56.00 and gave the company a “sector perform” rating in a report on Thursday, May 16th. Mizuho lifted their target price on Realty Income from $56.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, May 10th. UBS Group decreased their target price on Realty Income from $67.00 to $61.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. Finally, KeyCorp initiated coverage on Realty Income in a report on Wednesday, June 12th. They set a “sector weight” rating for the company. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Realty Income currently has a consensus rating of “Hold” and a consensus target price of $61.35.

Realty Income Trading Up 0.1 %

Shares of Realty Income stock traded up $0.06 on Tuesday, reaching $52.42. The company had a trading volume of 4,589,121 shares, compared to its average volume of 6,375,106. The firm has a market cap of $45.65 billion, a price-to-earnings ratio of 48.52, a P/E/G ratio of 4.60 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.83 and a quick ratio of 1.83. The firm’s 50-day moving average price is $53.61 and its two-hundred day moving average price is $54.07. Realty Income Co. has a 1 year low of $45.03 and a 1 year high of $64.18.

Realty Income (NYSE:O) last issued its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.87). Realty Income had a return on equity of 3.26% and a net margin of 17.74%. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the business earned $0.98 earnings per share. The firm’s quarterly revenue was up 33.5% compared to the same quarter last year. As a group, research analysts predict that Realty Income Co. will post 4.2 earnings per share for the current fiscal year.

Realty Income Increases Dividend

The company also recently declared a jul 24 dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be issued a dividend of $0.263 per share. This represents a yield of 6%. This is an increase from Realty Income’s previous jul 24 dividend of $0.26. The ex-dividend date is Monday, July 1st. Realty Income’s dividend payout ratio is presently 291.67%.

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.