Realty Income (NYSE:O) Shares Down 4% Following Analyst Downgrade

Realty Income Co. (NYSE:O) shares dropped 4% on Wednesday after Royal Bank of Canada lowered their price target on the stock from $67.00 to $63.00. Royal Bank of Canada currently has an outperform rating on the stock. Realty Income traded as low as $56.45 and last traded at $56.47. Approximately 3,383,483 shares changed hands during trading, a decline of 40% from the average daily volume of 5,656,701 shares. The stock had previously closed at $58.82.

O has been the topic of several other reports. Stifel Nicolaus lowered their price objective on shares of Realty Income from $70.50 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday. Robert W. Baird boosted their price target on Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $65.00 price objective (up from $62.00) on shares of Realty Income in a research report on Tuesday, October 1st. Scotiabank boosted their target price on Realty Income from $61.00 to $64.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 17th. Finally, Wedbush began coverage on Realty Income in a report on Monday, August 19th. They set a “neutral” rating and a $64.00 price target for the company. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $63.85.

Insiders Place Their Bets

In other news, Director Mary Hogan Preusse sold 1,712 shares of Realty Income stock in a transaction that occurred 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 directly owns 26,579 shares in the company, valued at approximately $1,663,313.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $60.77, for a total transaction of $303,850.00. Following the sale, the director now directly owns 5,257 shares of the company’s stock, valued at approximately $319,467.89. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mary Hogan Preusse sold 1,712 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total value of $107,136.96. Following the completion of the transaction, the director now owns 26,579 shares in the company, valued at $1,663,313.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Realty Income

Institutional investors and hedge funds have recently bought and sold shares of the company. ZWJ Investment Counsel Inc. boosted its holdings in shares of Realty Income by 0.6% in the 3rd quarter. ZWJ Investment Counsel Inc. now owns 29,279 shares of the real estate investment trust’s stock valued at $1,857,000 after purchasing an additional 164 shares in the last quarter. Whittier Trust Co. lifted its position in shares of Realty Income by 4.5% during the 3rd quarter. Whittier Trust Co. now owns 3,871 shares of the real estate investment trust’s stock worth $245,000 after buying an additional 166 shares during the last quarter. Greenleaf Trust boosted its stake in Realty Income by 1.0% in the third quarter. Greenleaf Trust now owns 16,911 shares of the real estate investment trust’s stock valued at $1,072,000 after buying an additional 170 shares in the last quarter. Grove Bank & Trust grew its position in Realty Income by 14.3% in the third quarter. Grove Bank & Trust now owns 1,409 shares of the real estate investment trust’s stock valued at $89,000 after acquiring an additional 176 shares during the last quarter. Finally, Buckley Wealth Management LLC grew its position in Realty Income by 1.9% in the third quarter. Buckley Wealth Management LLC now owns 9,450 shares of the real estate investment trust’s stock valued at $599,000 after acquiring an additional 176 shares during the last quarter. Institutional investors own 70.81% of the company’s stock.

Realty Income Stock Performance

The company has a 50 day simple moving average of $62.06 and a 200 day simple moving average of $57.85. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.66. The stock has a market cap of $49.10 billion, a price-to-earnings ratio of 53.91, a P/E/G ratio of 4.12 and a beta of 0.99.

Realty Income (NYSE:O) last released its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.75). Realty Income had a return on equity of 2.38% and a net margin of 17.57%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the company earned $1.02 earnings per share. Realty Income’s revenue for the quarter was up 28.1% compared to the same quarter last year. As a group, equities research analysts forecast that Realty Income Co. will post 4.2 EPS for the current year.

Realty Income Dividend Announcement

The company also recently disclosed a nov 24 dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a dividend of $0.2635 per share. This represents a dividend yield of 5.1%. The ex-dividend date of this dividend is Friday, November 1st. Realty Income’s dividend payout ratio (DPR) is 300.96%.

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.