Realty Income (NYSE:O) Trading 0.3% Higher on Analyst Upgrade

Realty Income Co. (NYSE:O)’s share price rose 0.3% on Wednesday 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 $63.00 and last traded at $62.66. Approximately 488,903 shares were traded during trading, a decline of 92% from the average daily volume of 5,814,525 shares. The stock had previously closed at $62.49.

A number of other brokerages have also recently commented on O. Wells Fargo & Company raised their price objective on shares of Realty Income from $57.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Monday, August 26th. Robert W. Baird upped their price objective on shares of Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Morgan Stanley restated an “equal weight” rating and set a $62.00 target price on shares of Realty Income in a research report on Tuesday, August 6th. KeyCorp initiated coverage on Realty Income in a report on Wednesday, June 12th. They issued a “sector weight” rating for the company. Finally, JPMorgan Chase & Co. raised their price objective on Realty Income from $60.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $62.59.

Insider Buying and Selling at Realty Income

In related news, 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 transaction, the director now directly owns 5,257 shares of the company’s stock, valued at approximately $319,467.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the 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 sale, the director now directly owns 26,579 shares of the company’s stock, valued at approximately $1,663,313.82. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 transaction of $303,850.00. Following the sale, the director now directly owns 5,257 shares of the company’s stock, valued at $319,467.89. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Realty Income

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vima LLC purchased a new position in shares of Realty Income in the 4th quarter valued at $25,000. Pacifica Partners Inc. grew its holdings in shares of Realty Income by 444.4% during the second quarter. Pacifica Partners Inc. now owns 490 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 400 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Realty Income during the first quarter worth about $27,000. Bell Investment Advisors Inc lifted its holdings in shares of Realty Income by 69.6% in the 1st quarter. Bell Investment Advisors Inc now owns 529 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 217 shares during the last quarter. Finally, Able Wealth Management LLC acquired a new stake in shares of Realty Income in the 4th quarter valued at about $32,000. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Realty Income Stock Down 0.5 %

The stock has a market cap of $54.14 billion, a PE ratio of 57.56, a P/E/G ratio of 4.65 and a beta of 0.99. The business has a 50 day moving average of $60.05 and a 200-day moving average of $55.57. 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 announced its earnings results on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Realty Income had a return on equity of 3.27% and a net margin of 17.89%. The business’s revenue was up 31.4% on a year-over-year basis. During the same quarter last year, the business posted $1.00 earnings per share. Equities research analysts predict that Realty Income Co. will post 3.93 EPS 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 is Tuesday, October 1st. This represents a dividend yield of 5%. This is a positive change from Realty Income’s previous oct 24 dividend of $0.26. Realty Income’s dividend payout ratio (DPR) is currently 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.