Realty Income (NYSE:O) Hits New 1-Year High After Analyst Upgrade

Shares of Realty Income Co. (NYSE:O) hit a new 52-week high during trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $60.00 to $67.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Realty Income traded as high as $62.83 and last traded at $62.76, with a volume of 660707 shares changing hands. The stock had previously closed at $62.28.

Several other equities research analysts have also commented on the stock. Mizuho increased their price objective 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. KeyCorp assumed coverage on Realty Income in a report on Wednesday, June 12th. They set a “sector weight” rating on the stock. Wedbush initiated coverage on Realty Income in a research report on Monday, August 19th. They issued a “neutral” rating and a $64.00 price objective on the stock. Royal Bank of Canada raised their target price on Realty Income from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, Robert W. Baird boosted their price target on shares of Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Realty Income currently has an average rating of “Hold” and a consensus price target of $62.38.

Insider Buying and Selling

In other news, Director A. Larry Chapman sold 5,000 shares of Realty Income stock in a transaction on Friday, August 23rd. The stock was 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 $319,467.89. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Realty Income

A number of institutional investors and hedge funds have recently modified their holdings of O. CWA Asset Management Group LLC purchased a new position in Realty Income during the fourth quarter worth about $379,000. Texas Permanent School Fund Corp increased 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 purchasing an additional 22,440 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in 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 valued at $77,124,000 after purchasing an additional 51,574 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Realty Income by 17.8% during 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 last quarter. Finally, Treasurer of the State of North Carolina grew its stake in Realty Income by 5.4% in the 4th 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 buying an additional 16,831 shares in the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

Realty Income Stock Up 0.8 %

The stock’s fifty day moving average price is $57.89 and its 200 day moving average price is $54.81. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.66. The stock has a market cap of $54.68 billion, a P/E ratio of 57.68, a price-to-earnings-growth ratio of 4.62 and a beta of 0.96.

Realty Income (NYSE:O) last released its 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 17.89% and a return on equity of 3.27%. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the company earned $1.00 EPS. The firm’s revenue was up 31.4% compared to the same quarter last year. As a group, research analysts forecast that Realty Income Co. will post 3.93 earnings per share for the current fiscal year.

Realty Income Announces Dividend

The company also recently announced a sep 24 dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be given a $0.263 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a yield of 5.2%. Realty Income’s payout ratio is 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.