Corebridge Financial Inc. Has $14.09 Million Holdings in Realty Income Corporation $O

Corebridge Financial Inc. cut its holdings in shares of Realty Income Corporation (NYSE:O) by 3.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 242,799 shares of the real estate investment trust’s stock after selling 9,330 shares during the quarter. Corebridge Financial Inc.’s holdings in Realty Income were worth $14,085,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Keystone Global Partners LLC purchased a new stake in shares of Realty Income during the 1st quarter worth about $26,000. PSI Advisors LLC raised its stake in shares of Realty Income by 78.3% during the 1st quarter. PSI Advisors LLC now owns 574 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 252 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new stake in shares of Realty Income during the 4th quarter worth about $34,000. FSC Wealth Advisors LLC raised its stake in shares of Realty Income by 288.0% during the 1st quarter. FSC Wealth Advisors LLC now owns 613 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 455 shares in the last quarter. Finally, Orion Capital Management LLC purchased a new stake in shares of Realty Income during the 4th quarter worth about $37,000. 70.81% of the stock is owned by hedge funds and other institutional investors.

Realty Income Stock Down 0.0%

O opened at $58.19 on Wednesday. The business has a 50 day moving average price of $57.58 and a 200 day moving average price of $56.77. Realty Income Corporation has a twelve month low of $50.71 and a twelve month high of $64.88. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a market cap of $53.20 billion, a P/E ratio of 56.49, a price-to-earnings-growth ratio of 4.45 and a beta of 0.76.

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

Realty Income Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a $0.269 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a c) annualized dividend and a yield of 5.5%. This is an increase from Realty Income’s previous monthly dividend of $0.26. Realty Income’s dividend payout ratio (DPR) is presently 313.59%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on O shares. JPMorgan Chase & Co. cut their price target on Realty Income from $64.00 to $61.00 and set a “neutral” rating for the company in a research note on Monday, May 5th. Wolfe Research downgraded Realty Income from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 14th. Wedbush restated a “neutral” rating and issued a $61.00 target price on shares of Realty Income in a report on Wednesday, May 7th. UBS Group boosted their target price on Realty Income from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, August 15th. Finally, Stifel Nicolaus boosted their target price on Realty Income from $65.50 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. Three analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Realty Income has an average rating of “Hold” and an average target price of $61.82.

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.