Realty Income (NYSE:O) Given Equal Weight Rating at Wells Fargo & Company

Wells Fargo & Company reiterated their equal weight rating on shares of Realty Income (NYSE:O) in a research report sent to investors on Tuesday, Benzinga reports. Wells Fargo & Company currently has a $65.00 price target on the real estate investment trust’s stock, up from their prior price target of $62.00.

O has been the topic of a number of other reports. Scotiabank increased their price objective on Realty Income from $61.00 to $64.00 and gave the company a sector perform rating in a report on Tuesday, September 17th. JPMorgan Chase & Co. raised their price target on shares of Realty Income from $60.00 to $67.00 and gave the stock a neutral rating in a research report on Tuesday, September 3rd. Royal Bank of Canada upped their price objective on shares of Realty Income from $58.00 to $64.00 and gave the company an outperform rating in a report on Wednesday, August 7th. Stifel Nicolaus raised their target price on shares of Realty Income from $67.50 to $70.25 and gave the stock a buy rating in a report on Wednesday, August 28th. Finally, Morgan Stanley restated an equal weight rating and set a $62.00 target price on shares of Realty Income in a research report 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 currently has an average rating of Hold and a consensus target price of $62.80.

Realty Income Trading Down 0.7 %

Shares of NYSE:O opened at $62.99 on Tuesday. The business’s 50-day moving average is $61.05 and its 200 day moving average is $56.22. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.39 and a quick ratio of 1.39. Realty Income has a 1 year low of $45.03 and a 1 year high of $63.60. The firm has a market capitalization of $54.85 billion, a P/E ratio of 58.32, a P/E/G ratio of 4.34 and a beta of 0.99.

Realty Income (NYSE:O) last posted its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.07). The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.22 billion. Realty Income had a net margin of 17.89% and a return on equity of 3.27%. The business’s revenue was up 31.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.00 EPS. On average, research analysts predict that Realty Income will post 4.2 earnings per share for the current fiscal year.

Realty Income Increases Dividend

The firm also recently announced a oct 24 dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.2635 per share. This is a positive change from Realty Income’s previous oct 24 dividend of $0.26. The ex-dividend date is Tuesday, October 1st. This represents a dividend yield of 5%. Realty Income’s dividend payout ratio (DPR) is 292.59%.

Insider Buying and Selling

In related news, Director A. Larry Chapman sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $60.77, for a total value of $303,850.00. Following the transaction, the director now directly owns 5,257 shares of the company’s stock, valued at approximately $319,467.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of Realty Income stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total transaction of $107,136.96. Following the sale, the director now owns 26,579 shares of the company’s stock, valued at approximately $1,663,313.82. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $60.77, for a total transaction of $303,850.00. Following the completion of the sale, the director now 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 owned by insiders.

Institutional Trading of Realty Income

Large investors have recently bought and sold shares of the business. First Financial Bank Trust Division acquired a new position in Realty Income during the third quarter worth $2,394,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Realty Income by 117.4% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 630,500 shares of the real estate investment trust’s stock valued at $33,303,000 after acquiring an additional 340,500 shares during the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group grew its holdings in shares of Realty Income by 6.8% in the second quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 24,570 shares of the real estate investment trust’s stock valued at $1,298,000 after purchasing an additional 1,568 shares during the period. Sanctuary Advisors LLC acquired a new stake in Realty Income during the second quarter worth about $8,200,000. Finally, Cetera Investment Advisers raised its stake in Realty Income by 2.4% during the second quarter. Cetera Investment Advisers now owns 974,442 shares of the real estate investment trust’s stock worth $51,470,000 after purchasing an additional 23,107 shares during the period. Hedge funds and other institutional investors own 70.81% of the company’s stock.

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.