Prudential Financial Inc. Sells 82,656 Shares of Realty Income Co. (NYSE:O)

Prudential Financial Inc. decreased its stake in shares of Realty Income Co. (NYSE:O) by 9.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 820,990 shares of the real estate investment trust’s stock after selling 82,656 shares during the quarter. Prudential Financial Inc. owned 0.09% of Realty Income worth $43,849,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. ICW Investment Advisors LLC increased its position in shares of Realty Income by 1.6% during the fourth quarter. ICW Investment Advisors LLC now owns 32,312 shares of the real estate investment trust’s stock valued at $1,726,000 after purchasing an additional 509 shares during the period. United Services Automobile Association raised its stake in shares of Realty Income by 14.7% in the 4th quarter. United Services Automobile Association now owns 20,564 shares of the real estate investment trust’s stock valued at $1,098,000 after buying an additional 2,637 shares in the last quarter. Congress Wealth Management LLC DE lifted its holdings in shares of Realty Income by 2.1% during the 4th quarter. Congress Wealth Management LLC DE now owns 13,750 shares of the real estate investment trust’s stock worth $734,000 after acquiring an additional 282 shares during the period. Vanguard Group Inc. boosted its position 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 valued at $7,436,622,000 after acquiring an additional 555,908 shares in the last quarter. Finally, Meridian Wealth Advisors LLC bought a new stake in Realty Income in the fourth quarter valued at about $2,478,000. Institutional investors and hedge funds own 70.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on O. Mizuho cut their price target on shares of Realty Income from $60.00 to $54.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft began coverage on Realty Income in a research note on Wednesday, December 11th. They issued a “hold” rating and a $62.00 price target on the stock. Royal Bank of Canada cut their price objective on Realty Income from $62.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Barclays boosted their target price on shares of Realty Income from $56.00 to $59.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Finally, BNP Paribas cut shares of Realty Income from an “outperform” rating to a “neutral” rating and set a $61.00 target price for the company. in a research report on Tuesday, February 25th. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $62.04.

Realty Income Price Performance

O opened at $55.64 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market capitalization of $49.60 billion, a P/E ratio of 52.99, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. The company’s 50 day simple moving average is $55.65 and its 200-day simple moving average is $57.38. Realty Income Co. has a one year low of $50.65 and a one year high of $64.88.

Realty Income (NYSE:O) last released its earnings results on Monday, February 24th. The real estate investment trust reported $1.05 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.01). The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.28 billion. Realty Income had a net margin of 17.57% and a return on equity of 2.35%. Sell-side analysts anticipate that Realty Income Co. will post 4.19 earnings per share for the current fiscal year.

Realty Income Increases Dividend

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

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.