Realty Income (NYSE:O) Stock Price Up 0.3% Following Analyst Upgrade

Realty Income Co. (NYSE:O) shot up 0.3% on Wednesday after Scotiabank raised their price target on the stock from $61.00 to $64.00. Scotiabank currently has a sector perform rating on the stock. Realty Income traded as high as $63.00 and last traded at $62.66. 488,903 shares were traded during trading, a decline of 92% from the average session volume of 5,814,525 shares. The stock had previously closed at $62.49.

O has been the topic of a number of other reports. Morgan Stanley restated an “equal weight” rating and set a $62.00 target price on shares of Realty Income in a research note on Tuesday, August 6th. UBS Group increased their price objective on shares of Realty Income from $61.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Wedbush started coverage on shares of Realty Income in a research report on Monday, August 19th. They set a “neutral” rating and a $64.00 price objective for the company. Stifel Nicolaus increased their target price on Realty Income from $67.50 to $70.25 and gave the company a “buy” rating in a report on Wednesday, August 28th. Finally, Robert W. Baird raised their price target on Realty Income from $57.00 to $58.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Realty Income presently has an average rating of “Hold” and a consensus price target of $62.59.

Insiders Place Their Bets

In related news, Director Mary Hogan Preusse sold 1,712 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total value of $107,136.96. Following the completion of the sale, the director now owns 26,579 shares in the company, valued at approximately $1,663,313.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Mary Hogan Preusse sold 1,712 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total value of $107,136.96. Following the transaction, the director now owns 26,579 shares in the company, valued at approximately $1,663,313.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $60.77, for a total value of $303,850.00. Following the sale, the director now directly owns 5,257 shares of the company’s stock, valued at $319,467.89. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Realty Income

A number of hedge funds and other institutional investors have recently bought and sold shares of O. Vanguard Group Inc. raised its stake in shares of Realty Income by 18.3% during the 1st quarter. Vanguard Group Inc. now owns 134,768,614 shares of the real estate investment trust’s stock worth $7,290,982,000 after buying an additional 20,848,560 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its holdings in Realty Income by 213.3% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,171,853 shares of the real estate investment trust’s stock valued at $124,708,000 after acquiring an additional 1,478,577 shares during the period. Raymond James & Associates lifted its holdings in Realty Income by 76.6% in the second quarter. Raymond James & Associates now owns 3,366,982 shares of the real estate investment trust’s stock valued at $177,844,000 after acquiring an additional 1,460,884 shares during the period. GRS Advisors LLC purchased a new stake in shares of Realty Income during the 4th quarter worth $58,843,000. Finally, Canada Pension Plan Investment Board grew its stake in shares of Realty Income by 63.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,610,483 shares of the real estate investment trust’s stock worth $137,886,000 after purchasing an additional 1,010,876 shares during the period. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Realty Income Price Performance

The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.39 and a current ratio of 1.39. The stock’s fifty day moving average price is $60.16 and its 200-day moving average price is $55.60. The firm has a market cap of $52.85 billion, a PE ratio of 56.19, a P/E/G ratio of 4.65 and a beta of 0.99.

Realty Income (NYSE:O) last issued its earnings results on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). Realty Income had a net margin of 17.89% and a return on equity of 3.27%. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the business posted $1.00 earnings per share. The company’s quarterly revenue was up 31.4% on a year-over-year basis. As a group, equities analysts forecast that Realty Income Co. will post 3.93 EPS for the current fiscal year.

Realty Income Increases Dividend

The company also recently disclosed a oct 24 dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a dividend of $0.2635 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This is a boost from Realty Income’s previous oct 24 dividend of $0.26. This represents a yield of 5%. Realty Income’s payout ratio is currently 292.59%.

Realty Income Company Profile

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.