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

Prudential Financial Inc. cut its stake in Realty Income Co. (NYSE:O) by 9.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 820,990 shares of the real estate investment trust’s stock after selling 82,656 shares during the quarter. Prudential Financial Inc.’s holdings in Realty Income were worth $43,849,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Realty Income in the fourth quarter valued at approximately $553,572,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Realty Income by 765.1% in the 3rd 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 buying an additional 6,673,617 shares in the last quarter. Janus Henderson Group PLC raised its stake in Realty Income by 3,150.5% during 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 buying an additional 2,675,266 shares during the period. Bank of Montreal Can lifted its holdings in Realty Income by 102.1% during the third quarter. Bank of Montreal Can now owns 2,191,962 shares of the real estate investment trust’s stock worth $137,502,000 after acquiring an additional 1,107,493 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Realty Income by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 139,236,506 shares of the real estate investment trust’s stock worth $7,436,622,000 after acquiring an additional 555,908 shares in the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on O shares. Scotiabank dropped their price target on 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. BNP Paribas downgraded shares of Realty Income from an “outperform” rating to a “neutral” rating and set a $61.00 target price on the stock. in a report on Tuesday, February 25th. Royal Bank of Canada reduced their price target on shares of Realty Income from $62.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Realty Income in a report on Wednesday, December 11th. They set a “hold” rating and a $62.00 price objective on the stock. Finally, Stifel Nicolaus reduced their target price on shares of Realty Income from $70.00 to $66.50 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Realty Income has a consensus rating of “Hold” and an average target price of $62.04.

Realty Income Stock Performance

Shares of NYSE O opened at $55.64 on Wednesday. The stock has a market capitalization of $49.60 billion, a PE ratio of 52.99, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. Realty Income Co. has a 52 week low of $50.65 and a 52 week high of $64.88. The stock has a 50 day moving average price of $55.65 and a 200 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.

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

Realty Income Increases Dividend

The company also recently announced a apr 25 dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a $0.2685 dividend. This is an increase from Realty Income’s previous apr 25 dividend of $0.27. This represents a yield of 5.7%. The ex-dividend date of this dividend is Tuesday, April 1st. Realty Income’s dividend payout ratio (DPR) is 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.