Wells Fargo & Company MN Sells 148,786 Shares of Realty Income Co. (NYSE:O)

Wells Fargo & Company MN lowered its holdings 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 fund owned 4,958,769 shares of the real estate investment trust’s stock after selling 148,786 shares during the period. Wells Fargo & Company MN owned about 0.57% of Realty Income worth $264,848,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of O. Raymond James Financial Inc. bought a new stake in Realty Income in the 4th quarter worth $553,572,000. Trust Co. of Vermont grew its stake in shares of Realty Income by 12.7% in the fourth quarter. Trust Co. of Vermont now owns 253,503 shares of the real estate investment trust’s stock worth $13,540,000 after purchasing an additional 28,480 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Realty Income by 27.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 761,211 shares of the real estate investment trust’s stock valued at $40,656,000 after purchasing an additional 166,178 shares during the period. Asset Management One Co. Ltd. raised its position in Realty Income by 6.0% during the 4th quarter. Asset Management One Co. Ltd. now owns 1,782,196 shares of the real estate investment trust’s stock valued at $93,850,000 after purchasing an additional 101,184 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Realty Income by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 2,190,739 shares of the real estate investment trust’s stock worth $138,937,000 after buying an additional 74,185 shares during the period. 70.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on O shares. Stifel Nicolaus decreased their target price on Realty Income from $70.00 to $66.50 and set a “buy” rating for the company in a report on Wednesday, January 8th. Scotiabank decreased their price objective on shares of Realty Income from $59.00 to $57.00 and set a “sector perform” rating for the company in a report on Friday, February 28th. Barclays lifted 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. BNP Paribas downgraded shares of Realty Income from an “outperform” rating to a “neutral” rating and set a $61.00 price target for the company. in a research note on Tuesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Realty Income in a research report on Wednesday, December 11th. They set a “hold” rating and a $62.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $62.42.

Realty Income Stock Down 3.4 %

NYSE:O opened at $55.11 on Friday. The firm has a 50-day simple moving average of $56.03 and a two-hundred day simple moving average of $57.08. The firm has a market cap of $49.15 billion, a P/E ratio of 52.49, a P/E/G ratio of 2.10 and a beta of 1.00. Realty Income Co. has a fifty-two week low of $50.65 and a fifty-two week high of $64.88. 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 announced its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.01). The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Realty Income had a return on equity of 2.35% and a net margin of 17.57%. Analysts predict that Realty Income Co. will post 4.19 earnings per share for the current fiscal year.

Realty Income Increases Dividend

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