Realty Income (NYSE:O) Stock Price Up 0.3% After Analyst Upgrade

Realty Income Co. (NYSE:O)’s stock price rose 0.3% on Wednesday after Scotiabank raised their price target on the stock from $61.00 to $64.00. Scotiabank currently has a sector perform rating on the stock. Realty Income traded as high as $63.00 and last traded at $62.66. Approximately 488,903 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 5,814,525 shares. The stock had previously closed at $62.49.

O has been the subject of a number of other research reports. Wells Fargo & Company raised their price objective on shares of Realty Income from $57.00 to $62.00 and gave the company an “equal weight” rating in a research report on Monday, August 26th. JPMorgan Chase & Co. raised their price target on Realty Income from $60.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Stifel Nicolaus upped their price objective on Realty Income from $67.50 to $70.25 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Morgan Stanley reiterated an “equal weight” rating and issued a $62.00 price objective on shares of Realty Income in a research report on Tuesday, August 6th. Finally, UBS Group boosted their target price on shares of Realty Income from $61.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $62.59.

Insider Activity at Realty Income

In related news, Director Mary Hogan Preusse sold 1,712 shares of Realty Income stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total transaction of $107,136.96. Following the completion of the transaction, the director now directly owns 26,579 shares in the company, valued at approximately $1,663,313.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Mary Hogan Preusse sold 1,712 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total transaction of $107,136.96. Following the sale, the director now owns 26,579 shares of the company’s stock, valued at $1,663,313.82. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director A. Larry Chapman sold 5,000 shares of Realty Income stock in a transaction dated Friday, August 23rd. The stock was 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 of the company’s stock, valued at approximately $319,467.89. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Realty Income

Institutional investors and hedge funds have recently modified their holdings of the company. CWA Asset Management Group LLC acquired a new stake in Realty Income in the 4th quarter worth about $379,000. Texas Permanent School Fund Corp boosted its position in shares of Realty Income by 15.0% in the first quarter. Texas Permanent School Fund Corp now owns 171,916 shares of the real estate investment trust’s stock worth $9,301,000 after acquiring an additional 22,440 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Realty Income by 4.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 1,343,159 shares of the real estate investment trust’s stock worth $77,124,000 after acquiring an additional 51,574 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Realty Income by 17.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,131,375 shares of the real estate investment trust’s stock valued at $61,208,000 after purchasing an additional 171,166 shares during the period. Finally, Treasurer of the State of North Carolina increased its position in Realty Income by 5.4% during the fourth quarter. Treasurer of the State of North Carolina now owns 330,673 shares of the real estate investment trust’s stock worth $18,987,000 after purchasing an additional 16,831 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Realty Income Stock Performance

The company has a market cap of $54.14 billion, a PE ratio of 57.56, a P/E/G ratio of 4.65 and a beta of 0.99. The stock’s 50 day simple moving average is $60.05 and its two-hundred day simple moving average is $55.57. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.66.

Realty Income (NYSE:O) last issued its earnings results 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 return on equity of 3.27% and a net margin of 17.89%. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the business posted $1.00 earnings per share. The company’s quarterly revenue was up 31.4% compared to the same quarter last year. As a group, research analysts anticipate that Realty Income Co. will post 3.93 earnings per share for the current year.

Realty Income Increases Dividend

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

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.