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

Shares of Realty Income Co. (NYSE:O) were up 0.3% during mid-day trading on Tuesday 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 $61.94 and last traded at $61.94. Approximately 552,690 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 5,995,219 shares. The stock had previously closed at $61.77.

Other research analysts have also recently issued reports about the company. Stifel Nicolaus increased their price target on Realty Income from $65.00 to $67.50 and gave the company a “buy” rating in a research note on Tuesday, August 6th. UBS Group increased their price target on Realty Income from $61.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Robert W. Baird increased their price target on Realty Income from $57.00 to $58.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Morgan Stanley reiterated an “equal weight” rating and issued a $62.00 price target on shares of Realty Income in a research note on Tuesday, August 6th. Finally, KeyCorp started coverage on Realty Income in a research note on Wednesday, June 12th. They issued a “sector weight” rating for the company. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $62.27.

Insider Activity at Realty Income

In related news, Director A. Larry Chapman sold 5,000 shares of the business’s 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 directly owns 5,257 shares in the company, valued at approximately $319,467.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. American National Bank purchased a new stake in Realty Income in the fourth quarter worth approximately $25,000. Vima LLC purchased a new stake in Realty Income in the fourth quarter worth approximately $25,000. Pacifica Partners Inc. boosted its stake in Realty Income by 444.4% in the second quarter. Pacifica Partners Inc. now owns 490 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 400 shares in the last quarter. WASHINGTON TRUST Co boosted its stake in Realty Income by 65.7% in the first quarter. WASHINGTON TRUST Co now owns 497 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 197 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in Realty Income in the first quarter worth approximately $27,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Realty Income Stock Performance

The company has a debt-to-equity ratio of 0.65, a current ratio of 1.83 and a quick ratio of 1.83. The company has a 50 day simple moving average of $56.82 and a 200-day simple moving average of $54.39. The firm has a market cap of $53.94 billion, a PE ratio of 57.35, a price-to-earnings-growth ratio of 5.05 and a beta of 0.96.

Realty Income (NYSE:O) last posted its 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). Realty Income had a net margin of 17.74% and a return on equity of 3.26%. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the firm posted $1.00 earnings per share. Realty Income’s quarterly revenue was up 31.4% on a year-over-year basis. As a group, equities research analysts anticipate that Realty Income Co. will post 4.2 EPS for the current year.

Realty Income Announces Dividend

The business also recently declared a sep 24 dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be paid a $0.263 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a dividend 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.