Mizuho Cuts Realty Income (NYSE:O) Price Target to $54.00

Realty Income (NYSE:O) had its price target cut by Mizuho from $60.00 to $54.00 in a research report released on Wednesday,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

Several other research firms have also commented on O. Stifel Nicolaus decreased 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 note on Tuesday, November 5th. Royal Bank of Canada reduced their target price on shares of Realty Income from $67.00 to $63.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Scotiabank boosted their price objective on Realty Income from $61.00 to $64.00 and gave the company a “sector perform” rating in a research note on Tuesday, September 17th. Barclays initiated coverage on Realty Income in a research report on Tuesday, December 17th. They issued an “equal weight” rating and a $59.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Realty Income in a research report on Wednesday, December 11th. They set a “hold” rating and a $62.00 target price for the company. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $62.50.

Realty Income Price Performance

Shares of NYSE O opened at $51.73 on Wednesday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $45.27 billion, a PE ratio of 49.27, a P/E/G ratio of 2.05 and a beta of 1.00. The firm has a fifty day simple moving average of $55.34 and a 200 day simple moving average of $58.29. Realty Income has a twelve month low of $50.65 and a twelve month high of $64.88.

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

Realty Income Increases Dividend

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

Hedge Funds Weigh In On Realty Income

A number of hedge funds have recently added to or reduced their stakes in the company. Atlanta Consulting Group Advisors LLC bought a new stake in shares of Realty Income in the third quarter worth $896,000. Code Waechter LLC purchased a new position in Realty Income in the 3rd quarter worth approximately $1,308,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Realty Income by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,729,229 shares of the real estate investment trust’s stock worth $617,028,000 after buying an additional 463,286 shares in the last quarter. Swiss National Bank lifted its stake in Realty Income by 1.4% in the 3rd quarter. Swiss National Bank now owns 2,584,694 shares of the real estate investment trust’s stock worth $163,921,000 after purchasing an additional 35,100 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Realty Income by 3.5% during the third quarter. Principal Financial Group Inc. now owns 2,190,739 shares of the real estate investment trust’s stock valued at $138,937,000 after buying an additional 74,185 shares during the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

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.