Maryland State Retirement & Pension System Raises Position in Realty Income Corporation $O

Maryland State Retirement & Pension System lifted its stake in Realty Income Corporation (NYSE:O) by 6.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 43,409 shares of the real estate investment trust’s stock after acquiring an additional 2,665 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Realty Income were worth $2,501,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of O. Nuveen LLC purchased a new stake in shares of Realty Income in the first quarter worth about $207,573,000. Vanguard Group Inc. boosted its position in shares of Realty Income by 2.4% in the first quarter. Vanguard Group Inc. now owns 142,511,359 shares of the real estate investment trust’s stock worth $8,267,084,000 after buying an additional 3,274,853 shares during the period. Centersquare Investment Management LLC boosted its position in shares of Realty Income by 27.0% in the first quarter. Centersquare Investment Management LLC now owns 4,971,123 shares of the real estate investment trust’s stock worth $288,375,000 after buying an additional 1,055,840 shares during the period. Raymond James Financial Inc. boosted its holdings in Realty Income by 9.6% in the first quarter. Raymond James Financial Inc. now owns 11,356,883 shares of the real estate investment trust’s stock valued at $658,813,000 after purchasing an additional 992,303 shares during the last quarter. Finally, Adelante Capital Management LLC boosted its holdings in Realty Income by 1,380.2% in the first quarter. Adelante Capital Management LLC now owns 860,671 shares of the real estate investment trust’s stock valued at $49,928,000 after purchasing an additional 802,526 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Realty Income Trading Down 0.7%

Shares of NYSE O opened at $58.26 on Friday. The stock’s 50 day moving average price is $58.96 and its two-hundred day moving average price is $57.47. Realty Income Corporation has a 52-week low of $50.71 and a 52-week high of $64.88. The stock has a market capitalization of $53.27 billion, a P/E ratio of 56.56, a PEG ratio of 4.48 and a beta of 0.78. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.72.

Realty Income (NYSE:O) last announced its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.01). Realty Income had a net margin of 16.77% and a return on equity of 2.34%. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the company earned $1.07 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, analysts anticipate that Realty Income Corporation will post 4.19 earnings per share for the current fiscal year.

Realty Income Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.2695 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Wednesday, October 1st. This is a positive change from Realty Income’s previous monthly dividend of $0.27. Realty Income’s payout ratio is currently 313.59%.

Wall Street Analysts Forecast Growth

O has been the subject of a number of analyst reports. UBS Group increased their price target on Realty Income from $62.00 to $66.00 and gave the company a “buy” rating in a report on Friday, August 15th. Wolfe Research downgraded Realty Income from an “outperform” rating to a “peer perform” rating in a report on Monday, July 14th. Evercore ISI initiated coverage on Realty Income in a report on Wednesday, October 1st. They issued an “in-line” rating and a $62.00 price target for the company. Cantor Fitzgerald initiated coverage on Realty Income in a report on Wednesday, October 1st. They issued a “neutral” rating and a $64.00 price target for the company. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Realty Income in a report on Wednesday. Three research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $62.25.

Insider Buying and Selling at Realty Income

In other news, Director Mary Hogan Preusse sold 11,000 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $60.43, for a total transaction of $664,730.00. Following the sale, the director directly owned 19,211 shares in the company, valued at approximately $1,160,920.73. This represents a 36.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.10% of the company’s stock.

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.