Mattern Wealth Management LLC Buys New Position in Realty Income Corporation (NYSE:O)

Mattern Wealth Management LLC purchased a new position in shares of Realty Income Corporation (NYSE:O) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,650 shares of the real estate investment trust’s stock, valued at approximately $212,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Realty Income in the fourth quarter valued at approximately $624,666,000. Raymond James Financial Inc. acquired a new stake in Realty Income during the 4th quarter worth approximately $553,572,000. Northern Trust Corp boosted its position 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 valued at $701,792,000 after buying an additional 3,834,403 shares during the period. California Public Employees Retirement System increased its position in shares of Realty Income by 26.7% during the fourth quarter. California Public Employees Retirement System now owns 3,849,998 shares of the real estate investment trust’s stock worth $205,628,000 after acquiring an additional 811,037 shares during the period. Finally, GAMMA Investing LLC raised its position in Realty Income by 6,002.1% in the 1st quarter. GAMMA Investing LLC now owns 706,562 shares of the real estate investment trust’s stock valued at $40,988,000 after purchasing an additional 694,983 shares in the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on O. Royal Bank Of Canada decreased their price target on Realty Income from $62.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. BNP Paribas cut 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. JPMorgan Chase & Co. lowered their target price on Realty Income from $64.00 to $61.00 and set a “neutral” rating on the stock in a research note on Monday, May 5th. Stifel Nicolaus upped their price objective on shares of Realty Income from $65.50 to $68.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Finally, Scotiabank raised their target price on shares of Realty Income from $57.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Monday, May 12th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $61.15.

Realty Income Trading Down 0.7%

NYSE:O opened at $57.96 on Wednesday. Realty Income Corporation has a 1 year low of $50.71 and a 1 year high of $64.88. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.74 and a current ratio of 1.74. The stock has a fifty day moving average price of $56.80 and a two-hundred day moving average price of $55.61. The stock has a market capitalization of $52.34 billion, a price-to-earnings ratio of 52.69, a PEG ratio of 4.08 and a beta of 0.76.

Realty Income (NYSE:O) last announced its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.06. Realty Income had a net margin of 18.15% and a return on equity of 2.51%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the firm posted $1.03 EPS. The business’s revenue was up 9.5% compared to the same quarter last year. As a group, sell-side 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 jul 25 dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.269 per share. This represents a dividend yield of 5.6%. This is an increase from Realty Income’s previous jul 25 dividend of $0.27. The ex-dividend date of this dividend is Tuesday, July 1st. Realty Income’s dividend payout ratio (DPR) is presently 292.73%.

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.