Realty Income (NYSE:O) Trading 0.5% Higher on Analyst Upgrade

Realty Income Co. (NYSE:O) shares were up 0.5% on Tuesday 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 $63.13 and last traded at $62.97. Approximately 515,547 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 5,826,824 shares. The stock had previously closed at $62.68.

A number of other analysts have also recently issued reports on the company. Stifel Nicolaus upped their target price on Realty Income from $67.50 to $70.25 and gave the company a “buy” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. lifted their target price on shares of Realty Income from $60.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Robert W. Baird increased their price target on shares of Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. UBS Group raised their price objective on shares of Realty Income from $61.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, Royal Bank of Canada upped their target price on shares of Realty Income from $58.00 to $64.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $62.59.

Insider Activity at Realty Income

In related 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director A. Larry Chapman sold 5,000 shares of Realty Income stock in a transaction 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 sale, the director now 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 accessible through this link. Also, Director Mary Hogan Preusse sold 1,712 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total transaction of $107,136.96. Following the completion of the transaction, the director now directly owns 26,579 shares of the company’s stock, valued at $1,663,313.82. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Realty Income

Institutional investors have recently made changes to their positions in the business. Vima LLC bought a new position in Realty Income in the fourth quarter worth about $25,000. Pacifica Partners Inc. grew its position in Realty Income by 444.4% in the 2nd quarter. Pacifica Partners Inc. now owns 490 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 400 shares in the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of Realty Income during the 1st quarter worth about $27,000. Bell Investment Advisors Inc lifted its stake 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 worth $29,000 after acquiring an additional 217 shares during the period. Finally, Able Wealth Management LLC bought a new position in shares of Realty Income in the fourth quarter valued at approximately $32,000. 70.81% of the stock is owned by institutional investors and hedge funds.

Realty Income Stock Down 0.2 %

The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.66. The stock’s 50 day moving average is $59.68 and its 200 day moving average is $55.45. The firm has a market cap of $54.46 billion, a price-to-earnings ratio of 58.34, a price-to-earnings-growth ratio of 4.65 and a beta of 0.99.

Realty Income (NYSE:O) last issued its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $1.22 billion. During the same quarter last year, the company posted $1.00 EPS. The firm’s revenue was up 31.4% compared to the same quarter last year. Analysts forecast that Realty Income Co. will post 3.93 EPS for the current year.

Realty Income Increases Dividend

The firm also recently disclosed a oct 24 dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a dividend of $0.2635 per share. The ex-dividend date is Tuesday, October 1st. This is a positive change from Realty Income’s previous oct 24 dividend of $0.26. This represents a yield of 5%. Realty Income’s dividend payout ratio (DPR) is presently 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.