Allstate Corp Boosts Stock Holdings in Realty Income Co. (NYSE:O)

Allstate Corp raised its holdings in shares of Realty Income Co. (NYSE:O) by 38.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,807 shares of the real estate investment trust’s stock after acquiring an additional 15,763 shares during the quarter. Allstate Corp’s holdings in Realty Income were worth $3,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in O. Norges Bank purchased a new position in Realty Income during the fourth quarter valued at approximately $624,666,000. Raymond James Financial Inc. purchased a new position in Realty Income during the fourth quarter worth about $553,572,000. Janus Henderson Group PLC increased its stake in Realty Income by 3,150.5% in the 3rd quarter. Janus Henderson Group PLC now owns 2,760,182 shares of the real estate investment trust’s stock worth $175,142,000 after acquiring an additional 2,675,266 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Realty Income by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 139,236,506 shares of the real estate investment trust’s stock valued at $7,436,622,000 after acquiring an additional 555,908 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Realty Income during the 4th quarter valued at about $15,943,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Realty Income Stock Performance

NYSE:O opened at $56.61 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.68. Realty Income Co. has a twelve month low of $50.65 and a twelve month high of $64.88. The stock has a market cap of $50.47 billion, a P/E ratio of 53.91, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. The firm’s fifty day simple moving average is $55.79 and its 200 day simple moving average is $57.28.

Realty Income (NYSE:O) last released its quarterly 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). The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.28 billion. Realty Income had a return on equity of 2.35% and a net margin of 17.57%. As a group, research analysts predict that Realty Income Co. will post 4.19 EPS for the current year.

Realty Income Increases Dividend

The firm also recently announced a apr 25 dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.2685 per share. This represents a dividend yield of 5.7%. The ex-dividend date is Tuesday, April 1st. This is a boost from Realty Income’s previous apr 25 dividend of $0.27. Realty Income’s payout ratio is 328.57%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on O. Scotiabank decreased their price target on shares of Realty Income from $59.00 to $57.00 and set a “sector perform” rating on the stock in a report on Friday, February 28th. Stifel Nicolaus decreased their price objective on Realty Income from $70.00 to $66.50 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Royal Bank of Canada cut their target price on Realty Income from $62.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. BNP Paribas downgraded shares of Realty Income from an “outperform” rating to a “neutral” rating and set a $61.00 price target for the company. in a research note on Tuesday, February 25th. Finally, Mizuho reduced their price objective 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. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average 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.