Scotiabank Raises Realty Income (NYSE:O) Price Target to $64.00

Realty Income (NYSE:O) had its price objective raised by Scotiabank from $61.00 to $64.00 in a report published on Tuesday, Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

O has been the subject of several other reports. Robert W. Baird lifted their price target on Realty Income from $57.00 to $58.00 and gave the company a neutral rating in a report on Tuesday, August 6th. JPMorgan Chase & Co. raised their price objective on Realty Income from $60.00 to $67.00 and gave the company a neutral rating in a research note on Tuesday, September 3rd. Wells Fargo & Company raised their price objective on Realty Income from $57.00 to $62.00 and gave the company an equal weight rating in a research note on Monday, August 26th. Stifel Nicolaus raised their price objective on Realty Income from $67.50 to $70.25 and gave the company a buy rating in a research note on Wednesday, August 28th. Finally, KeyCorp assumed coverage on Realty Income in a research note on Wednesday, June 12th. They issued a sector weight rating on the stock. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and an average target price of $62.59.

Realty Income Stock Down 0.3 %

Shares of Realty Income stock opened at $62.50 on Tuesday. The firm has a market cap of $54.42 billion, a price-to-earnings ratio of 57.87, a P/E/G ratio of 4.65 and a beta of 0.99. 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 52-week low of $45.03 and a 52-week high of $63.39. The stock has a 50-day simple moving average of $59.87 and a 200-day simple moving average of $55.52.

Realty Income (NYSE:O) last announced its quarterly earnings results 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 firm 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 firm’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.00 earnings per share. On average, equities research analysts expect that Realty Income will post 3.93 earnings per share for the current fiscal year.

Realty Income Increases Dividend

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

Insider Transactions at Realty Income

In other news, Director A. Larry Chapman sold 5,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 5,257 shares in the company, valued at $319,467.89. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director A. Larry Chapman sold 5,000 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $60.77, for a total value of $303,850.00. Following the completion of the transaction, the director now directly owns 5,257 shares in the company, valued at $319,467.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary Hogan Preusse sold 1,712 shares of the company’s stock in a transaction 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 transaction, the director now owns 26,579 shares of the company’s stock, valued at $1,663,313.82. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of O. Vanguard Group Inc. grew its position in Realty Income by 18.3% in the first quarter. Vanguard Group Inc. now owns 134,768,614 shares of the real estate investment trust’s stock valued at $7,290,982,000 after acquiring an additional 20,848,560 shares during the period. Cbre Investment Management Listed Real Assets LLC grew its position in Realty Income by 213.3% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,171,853 shares of the real estate investment trust’s stock valued at $124,708,000 after acquiring an additional 1,478,577 shares during the period. Raymond James & Associates grew its position in Realty Income by 76.6% in the second quarter. Raymond James & Associates now owns 3,366,982 shares of the real estate investment trust’s stock valued at $177,844,000 after acquiring an additional 1,460,884 shares during the period. GRS Advisors LLC bought a new stake in Realty Income in the fourth quarter valued at $58,843,000. Finally, Canada Pension Plan Investment Board grew its position in Realty Income by 63.2% in the second quarter. Canada Pension Plan Investment Board now owns 2,610,483 shares of the real estate investment trust’s stock valued at $137,886,000 after acquiring an additional 1,010,876 shares during the period. 70.81% of the stock is currently owned by institutional investors and hedge funds.

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.