Royal Bank of Canada Cuts Realty Income (NYSE:O) Price Target to $60.00

Realty Income (NYSE:O) had its price objective reduced by Royal Bank of Canada from $62.00 to $60.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an outperform rating on the real estate investment trust’s stock.

A number of other brokerages have also recently commented on O. BNP Paribas cut Realty Income from an “outperform” rating to a “neutral” rating and set a $61.00 price objective for the company. in a research note on Tuesday. Mizuho reduced their price objective on Realty Income from $60.00 to $54.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Barclays reduced their price objective on Realty Income from $59.00 to $56.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Stifel Nicolaus reduced their price objective on Realty Income from $70.00 to $66.50 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Finally, Scotiabank reduced their price objective on Realty Income from $61.00 to $59.00 and set a “sector perform” rating for the company in a research note on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Realty Income currently has a consensus rating of “Hold” and an average target price of $61.81.

Realty Income Trading Up 0.8 %

Shares of O stock opened at $57.03 on Wednesday. The company has a market cap of $49.91 billion, a P/E ratio of 54.31, a PEG ratio of 2.10 and a beta of 1.00. The stock has a 50 day simple moving average of $54.25 and a two-hundred day simple moving average of $57.95. 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 has a fifty-two week low of $50.65 and a fifty-two week high of $64.88.

Realty Income (NYSE:O) last issued its earnings results on Monday, February 24th. The real estate investment trust reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.01). Realty Income had a return on equity of 2.35% and a net margin of 17.57%. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.28 billion. Research analysts forecast that Realty Income will post 4.19 earnings per share for the current year.

Realty Income Increases Dividend

The firm also recently disclosed a mar 25 dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be given a $0.268 dividend. The ex-dividend date is Monday, March 3rd. This represents a yield of 5.7%. This is a boost from Realty Income’s previous mar 25 dividend of $0.26. Realty Income’s payout ratio is currently 327.55%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of O. Lee Danner & Bass Inc. bought a new stake in shares of Realty Income in the fourth quarter valued at $28,000. Hopwood Financial Services Inc. bought a new stake in shares of Realty Income in the fourth quarter valued at $29,000. Rosenberg Matthew Hamilton raised its stake in shares of Realty Income by 75.4% in the third quarter. Rosenberg Matthew Hamilton now owns 491 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 211 shares during the period. Sierra Ocean LLC bought a new stake in shares of Realty Income in the fourth quarter valued at $32,000. Finally, Creative Capital Management Investments LLC raised its stake in shares of Realty Income by 133.3% in the third quarter. Creative Capital Management Investments LLC now owns 525 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 70.81% of the company’s stock.

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.