Realty Income (NYSE:O) Price Target Cut to $70.00 by Analysts at Stifel Nicolaus

Realty Income (NYSE:O) had its price target reduced by investment analysts at Stifel Nicolaus from $70.50 to $70.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. Stifel Nicolaus’ target price points to a potential upside of 20.23% from the stock’s current price.

Several other equities analysts have also issued reports on the stock. Wedbush started coverage on shares of Realty Income in a report on Monday, August 19th. They issued a “neutral” rating and a $64.00 price target for the company. Morgan Stanley reiterated an “equal weight” rating and set a $62.00 price objective on shares of Realty Income in a report on Tuesday, August 6th. UBS Group increased their target price on Realty Income from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. boosted their target price on Realty Income from $60.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $65.00 price target (up from $62.00) on shares of Realty Income in a research note on Tuesday, October 1st. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $63.92.

Realty Income Price Performance

Shares of O traded down $1.07 during mid-day trading on Tuesday, reaching $58.22. The company had a trading volume of 1,551,026 shares, compared to its average volume of 5,648,799. The company has a market capitalization of $50.70 billion, a P/E ratio of 53.91, a P/E/G ratio of 4.09 and a beta of 0.99. The company’s 50-day moving average is $62.23 and its 200-day moving average is $57.82. Realty Income has a twelve month low of $49.52 and a twelve month high of $64.88. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.39 and a quick ratio of 1.39.

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 for the quarter, missing the consensus estimate of $1.05 by ($0.75). The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.26 billion. Realty Income had a net margin of 17.89% and a return on equity of 2.36%. The company’s revenue was up 28.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.02 EPS. On average, equities analysts anticipate that Realty Income will post 4.2 EPS for the current year.

Insider Buying and Selling

In other news, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction dated 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 owns 5,257 shares of the company’s stock, valued at approximately $319,467.89. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director A. Larry Chapman sold 5,000 shares of Realty Income stock in a transaction that occurred 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 directly owns 5,257 shares in the company, valued at $319,467.89. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary Hogan Preusse sold 1,712 shares of the stock in a transaction dated 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 directly owns 26,579 shares of the company’s stock, valued at approximately $1,663,313.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. raised its stake in Realty Income by 1.8% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,328,294 shares of the real estate investment trust’s stock worth $274,500,000 after buying an additional 78,562 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of Realty Income by 5.7% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 16,593 shares of the real estate investment trust’s stock worth $1,052,000 after purchasing an additional 894 shares during the period. Patron Partners LLC lifted its holdings in shares of Realty Income by 13.7% in the 3rd quarter. Patron Partners LLC now owns 9,564 shares of the real estate investment trust’s stock worth $607,000 after purchasing an additional 1,153 shares in the last quarter. WealthPlan Investment Management LLC grew its position in Realty Income by 2.9% in the 3rd quarter. WealthPlan Investment Management LLC now owns 130,041 shares of the real estate investment trust’s stock valued at $8,247,000 after purchasing an additional 3,712 shares during the period. Finally, WCM Investment Management LLC increased its stake in Realty Income by 266.0% during the 3rd quarter. WCM Investment Management LLC now owns 20,361 shares of the real estate investment trust’s stock valued at $1,277,000 after purchasing an additional 14,798 shares in the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

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.