Geode Capital Management LLC Buys 658,240 Shares of Realty Income Co. (NYSE:O)

Geode Capital Management LLC raised its stake in shares of Realty Income Co. (NYSE:O) by 2.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 23,473,694 shares of the real estate investment trust’s stock after purchasing an additional 658,240 shares during the quarter. Geode Capital Management LLC owned 2.68% of Realty Income worth $1,253,584,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Lee Danner & Bass Inc. bought a new position in Realty Income in the fourth quarter worth $28,000. Hopwood Financial Services Inc. bought a new position in shares of Realty Income during the 4th quarter worth about $29,000. Sierra Ocean LLC bought a new position in shares of Realty Income during the 4th quarter worth about $32,000. Millstone Evans Group LLC acquired a new stake in shares of Realty Income during the 4th quarter valued at about $34,000. Finally, BankPlus Trust Department bought a new stake in Realty Income in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 70.81% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Scotiabank decreased their price objective on Realty Income from $59.00 to $57.00 and set a “sector perform” rating on the stock in a report on Friday, February 28th. Stifel Nicolaus cut their price target on shares of Realty Income from $70.00 to $66.50 and set a “buy” rating for the company in a report on Wednesday, January 8th. BNP Paribas lowered shares of Realty Income from an “outperform” rating to a “neutral” rating and set a $61.00 price objective for the company. in a report on Tuesday, February 25th. Barclays boosted their target price on Realty Income from $56.00 to $59.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Realty Income in a report on Wednesday, December 11th. They set a “hold” rating and a $62.00 price target for the company. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $62.04.

Realty Income Stock Performance

Shares of NYSE:O opened at $57.15 on Wednesday. The stock has a market capitalization of $50.96 billion, a P/E ratio of 54.43, a P/E/G ratio of 2.10 and a beta of 1.00. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.68. Realty Income Co. has a 1-year low of $50.65 and a 1-year high of $64.88. The business has a 50-day moving average price of $55.90 and a two-hundred day moving average price of $57.17.

Realty Income (NYSE:O) last announced its quarterly earnings data 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 business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.28 billion. Equities analysts predict that Realty Income Co. will post 4.19 earnings per share for the current year.

Realty Income Increases Dividend

The business also recently disclosed a apr 25 dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a $0.2685 dividend. This represents a yield of 5.7%. The ex-dividend date is Tuesday, April 1st. This is an increase from Realty Income’s previous apr 25 dividend of $0.27. Realty Income’s dividend payout ratio is currently 328.57%.

Realty Income 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.