Essex Savings Bank Acquires 764 Shares of Realty Income Corporation (NYSE:O)

Essex Savings Bank increased its holdings in shares of Realty Income Corporation (NYSE:O) by 9.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 8,592 shares of the real estate investment trust’s stock after acquiring an additional 764 shares during the period. Essex Savings Bank’s holdings in Realty Income were worth $498,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of O. Vanguard Group Inc. lifted its position in shares of 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 purchasing an additional 555,908 shares during the last quarter. Geode Capital Management LLC increased its stake in Realty Income by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 23,473,694 shares of the real estate investment trust’s stock worth $1,253,584,000 after buying an additional 658,240 shares during the period. Northern Trust Corp increased its stake in Realty Income by 41.2% in the 4th quarter. Northern Trust Corp now owns 13,139,719 shares of the real estate investment trust’s stock worth $701,792,000 after buying an additional 3,834,403 shares during the period. Norges Bank bought a new stake in Realty Income during the 4th quarter valued at about $624,666,000. Finally, Raymond James Financial Inc. purchased a new stake in Realty Income in the 4th quarter valued at about $553,572,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Realty Income Price Performance

O opened at $57.52 on Wednesday. The firm has a market capitalization of $51.94 billion, a PE ratio of 52.29, a price-to-earnings-growth ratio of 4.01 and a beta of 0.76. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.74 and a quick ratio of 1.74. The business’s 50-day moving average is $56.56 and its two-hundred day moving average is $55.55. Realty Income Corporation has a 1 year low of $50.71 and a 1 year high of $64.88.

Realty Income (NYSE:O) last issued its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.06. Realty Income had a net margin of 18.15% and a return on equity of 2.51%. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the firm earned $1.03 EPS. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. Research analysts anticipate that Realty Income Corporation will post 4.19 earnings per share for the current fiscal year.

Realty Income Increases Dividend

The firm also recently disclosed a jul 25 dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.269 per share. This represents a dividend yield of 5.6%. The ex-dividend date is Tuesday, July 1st. This is a positive change from Realty Income’s previous jul 25 dividend of $0.27. Realty Income’s dividend payout ratio is currently 292.73%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. BNP Paribas lowered shares of Realty Income from an “outperform” rating to a “neutral” rating and set a $61.00 target price on the stock. in a research report on Tuesday, February 25th. JPMorgan Chase & Co. reduced their price objective on Realty Income from $64.00 to $61.00 and set a “neutral” rating on the stock in a report on Monday, May 5th. Scotiabank lifted their target price on Realty Income from $57.00 to $58.00 and gave the company a “sector perform” rating in a research report on Monday, May 12th. Mizuho increased their price target on Realty Income from $54.00 to $59.00 and gave the stock a “neutral” rating in a research report on Thursday, April 3rd. Finally, Stifel Nicolaus raised their price target on Realty Income from $65.50 to $68.00 and gave the company a “buy” rating in a research note on Tuesday, May 6th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $61.15.

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.