Vestcor Inc Reduces Holdings in Realty Income Co. (NYSE:O)

Vestcor Inc trimmed its holdings in shares of Realty Income Co. (NYSE:O) by 14.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,857 shares of the real estate investment trust’s stock after selling 13,377 shares during the period. Vestcor Inc’s holdings in Realty Income were worth $5,065,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of O. Rosenberg Matthew Hamilton increased its stake in shares of Realty Income by 75.4% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 491 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 211 shares in the last quarter. MFA Wealth Advisors LLC purchased a new position in shares of Realty Income during the 2nd quarter worth approximately $33,000. Creative Capital Management Investments LLC increased its stake in shares of Realty Income by 133.3% during the 3rd quarter. Creative Capital Management Investments LLC now owns 525 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 300 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Realty Income during the 2nd quarter worth approximately $42,000. Finally, Headlands Technologies LLC purchased a new position in shares of Realty Income during the 2nd quarter worth approximately $42,000. 70.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Mizuho cut shares of Realty Income from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $64.00 to $60.00 in a research note on Thursday, November 14th. UBS Group lowered their target price on shares of Realty Income from $72.00 to $71.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Wedbush began coverage on shares of Realty Income in a research note on Monday, August 19th. They issued a “neutral” rating and a $64.00 target price for the company. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $65.00 target price (up from $62.00) on shares of Realty Income in a research note on Tuesday, October 1st. Finally, Royal Bank of Canada lowered their target price on shares of Realty Income from $67.00 to $63.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Ten equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $63.67.

Realty Income Stock Down 1.2 %

Shares of O opened at $55.79 on Wednesday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.68. The firm has a market cap of $48.83 billion, a PE ratio of 53.13, a price-to-earnings-growth ratio of 3.95 and a beta of 0.98. The company’s fifty day moving average is $59.59 and its two-hundred day moving average is $58.30. Realty Income Co. has a fifty-two week low of $50.65 and a fifty-two week high of $64.88.

Realty Income (NYSE:O) last posted its earnings results on Monday, November 4th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.75). The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.26 billion. Realty Income had a net margin of 17.57% and a return on equity of 2.35%. The business’s revenue was up 28.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.02 EPS. Analysts forecast that Realty Income Co. will post 4.2 earnings per share for the current year.

Realty Income Announces Dividend

The firm also recently announced a jan 25 dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.264 per share. Realty Income’s payout ratio is 300.96%.

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.