Realty Income (NYSE:O) Reaches New 12-Month High on Analyst Upgrade

Shares of Realty Income Co. (NYSE:O) hit a new 52-week high during trading on Monday after Scotiabank raised their price target on the stock from $56.00 to $61.00. Scotiabank currently has a sector perform rating on the stock. Realty Income traded as high as $61.63 and last traded at $61.52, with a volume of 337295 shares traded. The stock had previously closed at $61.09.

O has been the topic of several other reports. Stifel Nicolaus upped their price target on shares of Realty Income from $65.00 to $67.50 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Mizuho raised their target price on shares of Realty Income from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Royal Bank of Canada lifted their price target on Realty Income from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Morgan Stanley restated an “equal weight” rating and issued a $62.00 price objective on shares of Realty Income in a research note on Tuesday, August 6th. Finally, Robert W. Baird lifted their target price on Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $62.27.

Insider Activity at Realty Income

In other news, Director A. Larry Chapman sold 5,000 shares of the business’s 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 completion of the transaction, the director now directly owns 5,257 shares in the company, valued at approximately $319,467.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Realty Income by 18.3% during 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 acquiring an additional 20,848,560 shares during the last quarter. Norges Bank acquired a new position in shares of Realty Income in the fourth quarter valued at approximately $506,526,000. Principal Financial Group Inc. raised its holdings in Realty Income by 107.1% in the 4th quarter. Principal Financial Group Inc. now owns 4,951,020 shares of the real estate investment trust’s stock valued at $284,288,000 after buying an additional 2,560,597 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its position in Realty Income by 213.3% during the 4th 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 during the period. Finally, Raymond James & Associates grew its holdings in Realty Income by 76.6% during the 2nd quarter. Raymond James & Associates now owns 3,366,982 shares of the real estate investment trust’s stock worth $177,844,000 after acquiring an additional 1,460,884 shares during the last quarter. Institutional investors own 70.81% of the company’s stock.

Realty Income Stock Performance

The company’s 50-day simple moving average is $56.82 and its 200-day simple moving average is $54.39. The stock has a market capitalization of $54.13 billion, a price-to-earnings ratio of 57.56, a PEG ratio of 5.05 and a beta of 0.96. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.65.

Realty Income (NYSE:O) last released its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). Realty Income had a net margin of 17.74% and a return on equity of 3.26%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the firm posted $1.00 EPS. The company’s quarterly revenue was up 31.4% on a year-over-year basis. On average, analysts expect that Realty Income Co. will post 4.2 EPS for the current year.

Realty Income Dividend Announcement

The firm also recently declared a sep 24 dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.263 per share. The ex-dividend date is Tuesday, September 3rd. This represents a yield of 5.2%. Realty Income’s payout ratio is currently 291.67%.

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.