Bank of New York Mellon Corp Trims Stock Holdings in Realty Income Corporation $O

Bank of New York Mellon Corp lowered its holdings in Realty Income Corporation (NYSE:O) by 2.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,643,854 shares of the real estate investment trust’s stock after selling 169,320 shares during the quarter. Bank of New York Mellon Corp’s holdings in Realty Income were worth $343,090,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of O. Vanguard Group Inc. raised its holdings in Realty Income by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 146,136,211 shares of the real estate investment trust’s stock valued at $8,418,907,000 after acquiring an additional 3,624,852 shares during the period. State Street Corp grew its position in shares of Realty Income by 1.1% in the second quarter. State Street Corp now owns 61,732,956 shares of the real estate investment trust’s stock valued at $3,556,436,000 after purchasing an additional 676,697 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Realty Income by 8.3% during the 2nd quarter. Geode Capital Management LLC now owns 26,979,134 shares of the real estate investment trust’s stock valued at $1,548,687,000 after purchasing an additional 2,058,031 shares during the period. Raymond James Financial Inc. lifted its holdings in Realty Income by 5.8% during the 2nd quarter. Raymond James Financial Inc. now owns 12,011,841 shares of the real estate investment trust’s stock worth $692,002,000 after purchasing an additional 654,958 shares in the last quarter. Finally, Norges Bank bought a new position in Realty Income in the 2nd quarter worth about $676,500,000. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on O. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Realty Income in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft raised shares of Realty Income from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research note on Tuesday, January 20th. Royal Bank Of Canada increased their target price on shares of Realty Income from $60.00 to $61.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Wall Street Zen raised shares of Realty Income from a “sell” rating to a “hold” rating in a report on Monday. Finally, Cantor Fitzgerald decreased their price target on shares of Realty Income from $64.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $62.71.

Realty Income Trading Up 1.1%

Shares of Realty Income stock opened at $60.72 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.53 and a quick ratio of 1.53. Realty Income Corporation has a 1 year low of $50.71 and a 1 year high of $61.95. The firm has a market cap of $55.85 billion, a PE ratio of 56.22, a PEG ratio of 3.86 and a beta of 0.80. The company has a 50 day simple moving average of $58.18 and a two-hundred day simple moving average of $58.33.

Realty Income (NYSE:O) last posted its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.01. Realty Income had a net margin of 17.17% and a return on equity of 2.45%. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter last year, the company posted $1.05 EPS. The business’s quarterly revenue was up 10.5% on a year-over-year basis. Realty Income has set its FY 2025 guidance at 4.250-4.270 EPS. Analysts expect that Realty Income Corporation will post 4.19 earnings per share for the current fiscal year.

Realty Income Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, January 30th. This represents a c) annualized dividend and a yield of 5.3%. Realty Income’s payout ratio is 300.00%.

Realty Income Profile

Realty Income Corporation (NYSE: O) is a real estate investment trust (REIT) that acquires, owns and manages commercial properties subject primarily to long-term net lease agreements. The company’s business model focuses on generating predictable, contractual rental income by leasing properties to tenants under agreements that typically place responsibility for taxes, insurance and maintenance on the tenant. Realty Income is publicly traded on the New York Stock Exchange and markets itself as a reliable income-oriented REIT.

Realty Income’s portfolio is concentrated in single-tenant, retail and service-oriented properties such as drugstores, convenience stores, dollar and discount retailers, restaurants, and other essential-service businesses.