Realty Income (NYSE:O) Shares Up 0.3% Following Analyst Upgrade

Realty Income Co. (NYSE:O) rose 0.3% during mid-day trading 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 changed hands during trading, a decline of 92% from the average daily volume of 5,814,525 shares. The stock had previously closed at $62.49.

Several other equities research analysts have also commented on the stock. UBS Group boosted their target price 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. JPMorgan Chase & Co. boosted their price target on Realty Income from $60.00 to $67.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 3rd. Wells Fargo & Company lifted their price objective on Realty Income from $57.00 to $62.00 and gave the stock an “equal weight” rating in a report on Monday, August 26th. Royal Bank of Canada raised their price target on Realty Income from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, Robert W. Baird boosted 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. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $62.59.

Insider Activity at Realty Income

In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was 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 filing with the SEC, which can be accessed through this link. In other news, Director A. Larry Chapman sold 5,000 shares of Realty Income stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $60.77, for a total value 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 the SEC website. Also, Director Mary Hogan Preusse sold 1,712 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,663,313.82. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Realty Income

A number of hedge funds have recently made changes to their positions in O. CWA Asset Management Group LLC acquired a new position in shares of Realty Income in the 4th quarter valued at approximately $379,000. Texas Permanent School Fund Corp boosted its holdings in shares of Realty Income by 15.0% during the first quarter. Texas Permanent School Fund Corp now owns 171,916 shares of the real estate investment trust’s stock valued at $9,301,000 after acquiring an additional 22,440 shares during the period. Public Employees Retirement System of Ohio lifted its position in Realty Income by 4.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 1,343,159 shares of the real estate investment trust’s stock valued at $77,124,000 after purchasing an additional 51,574 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Realty Income by 17.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,131,375 shares of the real estate investment trust’s stock worth $61,208,000 after buying an additional 171,166 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in Realty Income by 5.4% during the 4th quarter. Treasurer of the State of North Carolina now owns 330,673 shares of the real estate investment trust’s stock valued at $18,987,000 after acquiring an additional 16,831 shares in the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Realty Income Stock Performance

The company has a market cap of $54.56 billion, a P/E ratio of 58.02, a PEG ratio of 4.65 and a beta of 0.99. 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 company has a 50 day moving average price of $59.87 and a 200-day moving average price of $55.52.

Realty Income (NYSE:O) last released its 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). The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.22 billion. Realty Income had a net margin of 17.89% and a return on equity of 3.27%. The firm’s quarterly revenue was up 31.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.00 EPS. Equities analysts expect that Realty Income Co. 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. Stockholders of record on Tuesday, October 1st will be paid a $0.2635 dividend. The ex-dividend date is Tuesday, October 1st. This represents a dividend yield of 5%. This is a boost from Realty Income’s previous oct 24 dividend of $0.26. Realty Income’s payout ratio 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.