Realty Income (NYSE:O) Shares Up 0.6% – Still a Buy?

Realty Income Co. (NYSE:O) shares shot up 0.6% on Friday . The stock traded as high as $56.40 and last traded at $56.38. 1,198,563 shares were traded during mid-day trading, a decline of 79% from the average session volume of 5,658,171 shares. The stock had previously closed at $56.07.

Analysts Set New Price Targets

O has been the topic of a number of recent research reports. Wedbush assumed coverage on shares of Realty Income in a research note on Monday, August 19th. They set a “neutral” rating and a $64.00 price target on the stock. Robert W. Baird upped their target price on shares of Realty Income from $57.00 to $58.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Royal Bank of Canada dropped their price target on Realty Income from $67.00 to $63.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. UBS Group lowered their price objective on Realty Income from $72.00 to $71.00 and set a “buy” rating for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. boosted their target price on Realty Income from $60.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $63.85.

Realty Income Trading Up 0.8 %

The stock has a market capitalization of $49.48 billion, a P/E ratio of 53.84, a PEG ratio of 4.00 and a beta of 0.99. The stock’s fifty day moving average price is $61.31 and its 200 day moving average price is $57.98. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.40.

Realty Income (NYSE:O) last issued its earnings results on Monday, November 4th. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.75). Realty Income had a return on equity of 2.35% and a net margin of 17.57%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the company earned $1.02 earnings per share. Realty Income’s revenue was up 28.1% on a year-over-year basis. Research analysts forecast that Realty Income Co. will post 4.19 earnings per share for the current year.

Realty Income Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.2635 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Realty Income’s previous monthly dividend of $0.24. This represents a $3.16 dividend on an annualized basis and a yield of 5.59%. Realty Income’s payout ratio is 300.96%.

Insider Transactions at Realty Income

In other news, Director Mary Hogan Preusse sold 1,712 shares of the company’s stock in a transaction that occurred on 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 owns 26,579 shares of the company’s stock, valued at approximately $1,663,313.82. This represents a 6.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $303,850.00. Following the transaction, the director now directly owns 5,257 shares in the company, valued at approximately $319,467.89. The trade was a 48.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Parnassus Investments LLC lifted its position in Realty Income by 7.4% during the third quarter. Parnassus Investments LLC now owns 24,448,225 shares of the real estate investment trust’s stock valued at $1,550,506,000 after acquiring an additional 1,676,293 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Realty Income by 1.1% during the third quarter. Geode Capital Management LLC now owns 22,815,454 shares of the real estate investment trust’s stock worth $1,445,036,000 after purchasing an additional 242,786 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Realty Income by 4.5% during the 2nd quarter. Legal & General Group Plc now owns 12,258,468 shares of the real estate investment trust’s stock valued at $647,492,000 after purchasing an additional 531,008 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Realty Income by 3.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,682,105 shares of the real estate investment trust’s stock worth $617,043,000 after purchasing an additional 413,865 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Realty Income by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,729,229 shares of the real estate investment trust’s stock worth $617,028,000 after buying an additional 463,286 shares during the last quarter. 70.81% of the stock is owned by institutional investors.

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.