California Public Employees Retirement System Purchases 811,037 Shares of Realty Income Co. (NYSE:O)

California Public Employees Retirement System increased its position in Realty Income Co. (NYSE:O) by 26.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,849,998 shares of the real estate investment trust’s stock after purchasing an additional 811,037 shares during the quarter. California Public Employees Retirement System owned approximately 0.44% of Realty Income worth $205,628,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Realty Income by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 139,236,506 shares of the real estate investment trust’s stock valued at $7,436,622,000 after purchasing an additional 555,908 shares during the period. Geode Capital Management LLC grew its stake in Realty Income by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 22,815,454 shares of the real estate investment trust’s stock valued at $1,445,036,000 after buying an additional 242,786 shares during the last quarter. Norges Bank bought a new position in Realty Income in the 4th quarter valued at about $624,666,000. Raymond James Financial Inc. acquired a new stake in Realty Income during the fourth quarter worth approximately $553,572,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Realty Income by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 9,989,300 shares of the real estate investment trust’s stock worth $533,529,000 after acquiring an additional 260,071 shares during the period. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Barclays increased their target price on Realty Income from $56.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Royal Bank of Canada dropped their target price on Realty Income from $62.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Stifel Nicolaus decreased their price target on shares of Realty Income from $70.00 to $66.50 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Scotiabank dropped 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 research note on Friday, February 28th. Finally, 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. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $62.04.

Realty Income Stock Performance

Realty Income stock opened at $56.61 on Monday. The business has a 50 day moving average of $55.79 and a 200-day moving average of $57.24. The company has a market capitalization of $50.47 billion, a P/E ratio of 53.91, a P/E/G ratio of 2.10 and a beta of 1.00. Realty Income Co. has a 1 year low of $50.65 and a 1 year high of $64.88. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.40.

Realty Income (NYSE:O) last released its quarterly earnings results on Monday, February 24th. 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 17.57% and a return on equity of 2.35%. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.28 billion. On average, equities research analysts predict that Realty Income Co. will post 4.19 earnings per share for the current year.

Realty Income Increases Dividend

The company also recently announced a apr 25 dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.2685 per share. This represents a yield of 5.7%. The ex-dividend date of this dividend 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%.

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.