Realty Income (NYSE:O) Sees Unusually-High Trading Volume – Here’s Why

Realty Income Co. (NYSE:O) shares saw unusually-high trading volume on Friday . Approximately 3,330,039 shares traded hands during mid-day trading, a decline of 40% from the previous session’s volume of 5,572,459 shares.The stock last traded at $52.33 and had previously closed at $51.76.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on O. Wells Fargo & Company restated an “equal weight” rating and set a $65.00 target price (up from $62.00) on shares of Realty Income in a research report on Tuesday, October 1st. JPMorgan Chase & Co. boosted their price objective on Realty Income from $60.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd. Mizuho cut shares of Realty Income from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $64.00 to $60.00 in a research note on Thursday, November 14th. Stifel Nicolaus reduced their price objective on shares of Realty Income from $70.50 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada dropped their target price on shares of Realty Income from $67.00 to $63.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $63.23.

Realty Income Stock Performance

The firm’s 50 day moving average price is $58.19 and its two-hundred day moving average price is $58.37. The firm has a market cap of $46.20 billion, a PE ratio of 50.28, a PEG ratio of 2.05 and a beta of 0.98. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.40 and a current ratio of 1.40.

Realty Income (NYSE:O) last issued its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.75). Realty Income had a return on equity of 2.35% and a net margin of 17.57%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the company posted $1.02 earnings per share. The company’s revenue was up 28.1% on a year-over-year basis. On average, research analysts forecast that Realty Income Co. will post 4.2 earnings per share for the current year.

Realty Income Increases Dividend

The business also recently disclosed a jan 25 dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a $0.264 dividend. This is a positive change from Realty Income’s previous jan 25 dividend of $0.26. This represents a yield of 5.7%. The ex-dividend date of this dividend is Thursday, January 2nd. Realty Income’s payout ratio is 300.95%.

Hedge Funds Weigh In On Realty Income

Several large investors have recently made changes to their positions in O. Lantz Financial LLC acquired a new position in Realty Income during the 2nd quarter worth about $234,000. Raymond James Trust N.A. grew its holdings in shares of Realty Income by 43.2% in the second quarter. Raymond James Trust N.A. now owns 42,954 shares of the real estate investment trust’s stock valued at $2,269,000 after purchasing an additional 12,968 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Realty Income by 1.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,134,407 shares of the real estate investment trust’s stock worth $324,019,000 after buying an additional 116,789 shares during the period. Verdence Capital Advisors LLC lifted its holdings in Realty Income by 46.5% during the 2nd quarter. Verdence Capital Advisors LLC now owns 20,723 shares of the real estate investment trust’s stock worth $1,095,000 after buying an additional 6,574 shares in the last quarter. Finally, Alpha Omega Wealth Management LLC boosted its position in Realty Income by 0.8% in the 2nd quarter. Alpha Omega Wealth Management LLC now owns 94,169 shares of the real estate investment trust’s stock valued at $4,974,000 after buying an additional 712 shares during the period. 70.81% of the stock is currently owned by institutional investors and hedge funds.

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.