MetLife Investment Management LLC Cuts Position in Realty Income Co. (NYSE:O)

MetLife Investment Management LLC lowered its holdings in Realty Income Co. (NYSE:O) by 2.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 252,889 shares of the real estate investment trust’s stock after selling 5,796 shares during the quarter. MetLife Investment Management LLC’s holdings in Realty Income were worth $16,038,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Atlanta Consulting Group Advisors LLC acquired a new stake in shares of Realty Income in the 3rd quarter worth approximately $896,000. Code Waechter LLC purchased a new stake in Realty Income during the third quarter worth $1,308,000. Charles Schwab Investment Management Inc. grew its holdings in Realty Income by 5.0% in the third 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 purchasing an additional 463,286 shares during the last quarter. Swiss National Bank increased its position in shares of Realty Income by 1.4% in the third quarter. Swiss National Bank now owns 2,584,694 shares of the real estate investment trust’s stock valued at $163,921,000 after buying an additional 35,100 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Realty Income by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 2,190,739 shares of the real estate investment trust’s stock worth $138,937,000 after buying an additional 74,185 shares during the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

O has been the topic of a number of research reports. JPMorgan Chase & Co. increased their price objective on shares of Realty Income from $60.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. Morgan Stanley reissued an “equal weight” rating and set a $62.00 price objective on shares of Realty Income in a research note on Tuesday, August 6th. Stifel Nicolaus reduced their target price on Realty Income from $70.50 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Scotiabank raised their price target on Realty Income from $61.00 to $64.00 and gave the stock a “sector perform” rating in a research report on Tuesday, September 17th. Finally, Robert W. Baird upped their price objective on Realty Income from $57.00 to $58.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $63.85.

Insiders Place Their Bets

In related news, Director Mary Hogan Preusse sold 1,712 shares of Realty Income stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total transaction of $107,136.96. Following the transaction, the director now owns 26,579 shares in the company, valued at approximately $1,663,313.82. The trade was a 6.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.10% of the stock is currently owned by insiders.

Realty Income Trading Up 1.0 %

NYSE O opened at $58.32 on Thursday. The company has a 50-day moving average of $60.48 and a 200-day moving average of $58.15. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.40. Realty Income Co. has a 12 month low of $50.65 and a 12 month high of $64.88. The company has a market cap of $51.04 billion, a P/E ratio of 55.54, a P/E/G ratio of 4.04 and a beta of 0.99.

Realty Income (NYSE:O) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.75). The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.26 billion. Realty Income had a return on equity of 2.35% and a net margin of 17.57%. During the same period last year, the company posted $1.02 EPS. The business’s revenue for the quarter was up 28.1% on a year-over-year basis. As a group, equities analysts predict that Realty Income Co. will post 4.19 earnings per share for the current year.

Realty Income Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.2635 per share. This represents a $3.16 dividend on an annualized basis and a yield of 5.42%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Realty Income’s previous monthly dividend of $0.24. Realty Income’s payout ratio is 300.96%.

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.