Realty Income (NYSE:O) Stock Price Up 0.5% After Analyst Upgrade

Realty Income Co. (NYSE:O)’s stock price shot up 0.5% during mid-day trading on Tuesday 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 $63.13 and last traded at $62.97. 515,547 shares traded hands during trading, a decline of 91% from the average session volume of 5,826,824 shares. The stock had previously closed at $62.68.

Several other equities analysts also recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Realty Income from $60.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. Stifel Nicolaus increased their target price on shares of Realty Income from $67.50 to $70.25 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. KeyCorp started coverage on shares of Realty Income in a report on Wednesday, June 12th. They set a “sector weight” rating on the stock. Royal Bank of Canada boosted their price target on Realty Income from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $62.00 price target on shares of Realty Income in a research report on Tuesday, August 6th. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Realty Income presently has an average rating of “Hold” and a consensus target price of $62.59.

Insiders Place Their Bets

In other news, Director Mary Hogan Preusse sold 1,712 shares of Realty Income stock in a transaction dated 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 directly owns 26,579 shares of the company’s stock, valued at $1,663,313.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Mary Hogan Preusse sold 1,712 shares of Realty Income stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total transaction of $107,136.96. Following the transaction, the director now owns 26,579 shares in the company, valued at $1,663,313.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director A. Larry Chapman sold 5,000 shares of the business’s stock in a transaction 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 sale, the director now directly owns 5,257 shares in the company, valued at approximately $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

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group increased its stake in shares of Realty Income by 6.8% in the 2nd quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 24,570 shares of the real estate investment trust’s stock valued at $1,298,000 after acquiring an additional 1,568 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in Realty Income in the second quarter valued at $8,200,000. Cetera Investment Advisers raised its holdings in shares of Realty Income by 2.4% during the second quarter. Cetera Investment Advisers now owns 974,442 shares of the real estate investment trust’s stock valued at $51,470,000 after purchasing an additional 23,107 shares during the period. Pathway Financial Advisers LLC boosted its position in shares of Realty Income by 1.5% during the 2nd quarter. Pathway Financial Advisers LLC now owns 84,882 shares of the real estate investment trust’s stock worth $4,475,000 after purchasing an additional 1,291 shares in the last quarter. Finally, EP Wealth Advisors LLC grew its stake in shares of Realty Income by 110.0% in the 2nd quarter. EP Wealth Advisors LLC now owns 39,001 shares of the real estate investment trust’s stock valued at $2,060,000 after buying an additional 20,427 shares during the period. Institutional investors and hedge funds own 70.81% of the company’s stock.

Realty Income Price Performance

The business has a 50-day moving average of $60.05 and a 200 day moving average of $55.57. The firm has a market capitalization of $54.14 billion, a P/E ratio of 57.56, a price-to-earnings-growth ratio of 4.65 and a beta of 0.99. The company has a current ratio of 1.39, a quick 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 analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the company earned $1.00 earnings per share. Realty Income’s revenue for the quarter was up 31.4% compared to the same quarter last year. On average, sell-side analysts predict that Realty Income Co. will post 3.93 earnings per share for the current fiscal year.

Realty Income Increases Dividend

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