Mizuho Downgrades Realty Income (NYSE:O) to Neutral

Realty Income (NYSE:O) was downgraded by Mizuho from an “outperform” rating to a “neutral” rating in a report issued on Thursday, MarketBeat reports. They presently have a $60.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $64.00. Mizuho’s price target indicates a potential upside of 6.14% from the company’s current price.

Several other research firms also recently commented on O. Morgan Stanley restated an “equal weight” rating and set a $62.00 price objective on shares of Realty Income in a report on Tuesday, August 6th. Royal Bank of Canada reduced their price objective on Realty Income from $67.00 to $63.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Wedbush initiated coverage on Realty Income in a report on Monday, August 19th. They issued a “neutral” rating and a $64.00 price target on the stock. Scotiabank lifted their price target on Realty Income from $61.00 to $64.00 and gave the company a “sector perform” rating in a report on Tuesday, September 17th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $65.00 price target (up from $62.00) on shares of Realty Income in a report on Tuesday, October 1st. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Realty Income has an average rating of “Hold” and a consensus target price of $63.85.

Realty Income Stock Performance

Shares of O opened at $56.53 on Thursday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.68. The business has a 50-day simple moving average of $61.43 and a two-hundred day simple moving average of $57.96. The stock has a market cap of $49.48 billion, a price-to-earnings ratio of 53.70, a PEG ratio of 4.00 and a beta of 0.99. Realty Income has a 52 week low of $50.65 and a 52 week high of $64.88.

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

Insider Buying and Selling

In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the business’s stock in a transaction that occurred 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 sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 $1,663,313.82. This trade represents a 6.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in O. ZWJ Investment Counsel Inc. increased its holdings in Realty Income by 0.6% in the third quarter. ZWJ Investment Counsel Inc. now owns 29,279 shares of the real estate investment trust’s stock valued at $1,857,000 after buying an additional 164 shares during the last quarter. Whittier Trust Co. grew its position in Realty Income by 4.5% during the 3rd quarter. Whittier Trust Co. now owns 3,871 shares of the real estate investment trust’s stock worth $245,000 after purchasing an additional 166 shares during the last quarter. Greenleaf Trust increased its stake in Realty Income by 1.0% in the third quarter. Greenleaf Trust now owns 16,911 shares of the real estate investment trust’s stock valued at $1,072,000 after purchasing an additional 170 shares during the period. Grove Bank & Trust increased its stake in Realty Income by 14.3% in the third quarter. Grove Bank & Trust now owns 1,409 shares of the real estate investment trust’s stock valued at $89,000 after purchasing an additional 176 shares during the period. Finally, Buckley Wealth Management LLC increased its stake in Realty Income by 1.9% in the third quarter. Buckley Wealth Management LLC now owns 9,450 shares of the real estate investment trust’s stock valued at $599,000 after purchasing an additional 176 shares during the period. 70.81% of the stock is currently owned by institutional investors and hedge funds.

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.