Realty Income (NYSE:O) PT Raised to $64.00

Realty Income (NYSE:O) had its price objective hoisted by Scotiabank from $61.00 to $64.00 in a research note released on Tuesday morning, Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust’s stock.

A number of other research analysts have also weighed in on the stock. KeyCorp started coverage on shares of Realty Income in a research note on Wednesday, June 12th. They issued a sector weight rating on the stock. Royal Bank of Canada lifted their price target on Realty Income from $58.00 to $64.00 and gave the company an outperform rating in a research note on Wednesday, August 7th. UBS Group increased their price objective on Realty Income from $61.00 to $68.00 and gave the stock a buy rating in a research note on Thursday, July 18th. Wells Fargo & Company lifted their target price on Realty Income from $57.00 to $62.00 and gave the company an equal weight rating in a research report on Monday, August 26th. Finally, Wedbush assumed coverage on Realty Income in a report on Monday, August 19th. They set a neutral rating and a $64.00 price target for the company. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $62.59.

Realty Income Price Performance

O stock opened at $61.63 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.39 and a quick ratio of 1.39. The company’s 50-day moving average is $60.28 and its 200-day moving average is $55.67. The stock has a market capitalization of $53.67 billion, a PE ratio of 57.06, a price-to-earnings-growth ratio of 4.65 and a beta of 0.99. Realty Income has a 1 year low of $45.03 and a 1 year high of $63.39.

Realty Income (NYSE:O) last announced its quarterly earnings data 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 analyst estimates of $1.22 billion. During the same period last year, the business posted $1.00 EPS. The company’s revenue was up 31.4% on a year-over-year basis. Equities research analysts expect that Realty Income will post 3.93 EPS for the current fiscal year.

Realty Income Increases Dividend

The firm also recently disclosed a oct 24 dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a $0.2635 dividend. This represents a yield of 5%. This is a positive change from Realty Income’s previous oct 24 dividend of $0.26. The ex-dividend date is Tuesday, October 1st. Realty Income’s payout ratio is currently 292.59%.

Insiders Place Their Bets

In related news, Director Mary Hogan Preusse sold 1,712 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total transaction of $107,136.96. Following the sale, the director now directly owns 26,579 shares in the company, valued at approximately $1,663,313.82. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were 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 of the company’s stock, valued at approximately $319,467.89. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mary Hogan Preusse sold 1,712 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was 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 in the company, valued at approximately $1,663,313.82. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Realty Income

Institutional investors have recently added to or reduced their stakes in the business. Vima LLC bought a new position in shares of Realty Income in the 4th quarter worth $25,000. Pacifica Partners Inc. raised its position in Realty Income by 444.4% during the second quarter. Pacifica Partners Inc. now owns 490 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 400 shares in the last quarter. Northwest Investment Counselors LLC bought a new stake in Realty Income during the first quarter worth about $27,000. Bell Investment Advisors Inc boosted 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 worth $29,000 after purchasing an additional 217 shares in the last quarter. Finally, Able Wealth Management LLC bought a new position in shares of Realty Income during the 4th quarter valued at about $32,000. 70.81% of the stock is currently owned by institutional investors.

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.