Realty Income (NYSE:O) Shares Down 2.6%

Realty Income Co. (NYSE:O) shares fell 2.6% on Thursday . The company traded as low as $60.42 and last traded at $60.58. 1,811,768 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 5,815,350 shares. The stock had previously closed at $62.19.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on O. Wells Fargo & Company boosted their target price 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. 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 note on Tuesday, September 3rd. Robert W. Baird increased their target price on shares of Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. KeyCorp assumed coverage on shares of Realty Income in a research report on Wednesday, June 12th. They issued a “sector weight” rating on the stock. Finally, Scotiabank upped their price target on shares of Realty Income from $61.00 to $64.00 and gave the company a “sector perform” rating in a research note on Tuesday. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Realty Income currently has an average rating of “Hold” and a consensus price target of $62.59.

Realty Income Trading Down 2.5 %

The stock’s fifty day moving average price is $60.05 and its two-hundred day moving average price is $55.57. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $52.80 billion, a P/E ratio of 56.09, a price-to-earnings-growth ratio of 4.65 and a beta of 0.99.

Realty Income (NYSE:O) last announced its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.07). Realty Income had a net margin of 17.89% and a return on equity of 3.27%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the firm posted $1.00 EPS. The business’s revenue for the quarter was up 31.4% compared to the same quarter last year. Equities research analysts forecast that Realty Income Co. will post 3.93 EPS for the current year.

Realty Income Increases Dividend

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

Insider Activity

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

Hedge Funds Weigh In On Realty Income

Several large investors have recently made changes to their positions in O. Vanguard Group Inc. boosted its stake in Realty Income by 18.3% in the 1st quarter. Vanguard Group Inc. now owns 134,768,614 shares of the real estate investment trust’s stock worth $7,290,982,000 after purchasing an additional 20,848,560 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its stake in shares of 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 worth $124,708,000 after buying an additional 1,478,577 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Realty Income by 76.6% during 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 buying an additional 1,460,884 shares during the last quarter. GRS Advisors LLC bought a new stake in shares of Realty Income during the fourth quarter valued at approximately $58,843,000. Finally, Canada Pension Plan Investment Board raised its holdings in Realty Income by 63.2% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,610,483 shares of the real estate investment trust’s stock worth $137,886,000 after acquiring an additional 1,010,876 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.