Corebridge Financial Inc. Trims Position in Realty Income Co. (NYSE:O)

Corebridge Financial Inc. lowered its stake in shares of Realty Income Co. (NYSE:O) by 3.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 252,129 shares of the real estate investment trust’s stock after selling 9,024 shares during the period. Corebridge Financial Inc.’s holdings in Realty Income were worth $13,466,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in Realty Income during the 4th quarter worth $553,572,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Realty Income by 765.1% in the third 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 valued at $478,556,000 after purchasing an additional 6,673,617 shares during the period. Janus Henderson Group PLC boosted its holdings 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 valued at $175,142,000 after purchasing an additional 2,675,266 shares in the last quarter. Bank of Montreal Can increased its position in Realty Income by 102.1% during the 3rd quarter. Bank of Montreal Can now owns 2,191,962 shares of the real estate investment trust’s stock worth $137,502,000 after purchasing an additional 1,107,493 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Realty Income by 0.4% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on O shares. BNP Paribas lowered Realty Income from an “outperform” rating to a “neutral” rating and set a $61.00 price objective on the stock. in a report on Tuesday, February 25th. Stifel Nicolaus decreased their target price on Realty Income from $70.00 to $66.50 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Mizuho dropped their price target on Realty Income from $60.00 to $54.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Scotiabank decreased their price objective on shares of 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. Finally, Barclays raised their target price on shares of Realty Income from $56.00 to $59.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $62.04.

Realty Income Stock Down 1.1 %

O stock opened at $55.64 on Wednesday. Realty Income Co. has a one year low of $50.65 and a one year high of $64.88. The company has a 50 day moving average price of $55.65 and a two-hundred day moving average price of $57.38. 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 has a market capitalization of $49.60 billion, a P/E ratio of 52.99, a PEG ratio of 2.10 and a beta of 1.00.

Realty Income (NYSE:O) last released 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). The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Realty Income had a net margin of 17.57% and a return on equity of 2.35%. As a group, sell-side analysts expect that Realty Income Co. will post 4.19 EPS for the current year.

Realty Income Increases Dividend

The company also recently declared a apr 25 dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.2685 per share. The ex-dividend date is Tuesday, April 1st. This is a positive change from Realty Income’s previous apr 25 dividend of $0.27. This represents a yield of 5.7%. Realty Income’s dividend payout ratio is currently 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.