JPMorgan Chase & Co. Raises Realty Income (NYSE:O) Price Target to $67.00

Realty Income (NYSE:O) had its price objective lifted by JPMorgan Chase & Co. from $60.00 to $67.00 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

Several other research firms have also recently commented on O. Mizuho upped their target price on shares of Realty Income from $56.00 to $59.00 and gave the stock a buy rating in a research report on Friday, May 10th. Wells Fargo & Company upped their price target on shares of Realty Income from $57.00 to $62.00 and gave the stock an equal weight rating in a research note on Monday, August 26th. Robert W. Baird upped 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. Morgan Stanley reaffirmed an equal weight rating and issued a $62.00 price target on shares of Realty Income in a research note on Tuesday, August 6th. Finally, Royal Bank of Canada upped their price target on shares of Realty Income from $58.00 to $64.00 and gave the stock an outperform rating in a research note on Wednesday, August 7th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $62.38.

Realty Income Price Performance

NYSE O opened at $62.41 on Tuesday. Realty Income has a 52 week low of $45.03 and a 52 week high of $63.39. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.66. The stock has a market cap of $54.35 billion, a price-to-earnings ratio of 57.79, a price-to-earnings-growth ratio of 4.62 and a beta of 0.96. The company has a 50-day moving average price of $58.48 and a two-hundred day moving average price of $54.98.

Realty Income (NYSE:O) last posted 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). Realty Income had a return on equity of 3.27% and a net margin of 17.89%. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the company posted $1.00 EPS. Realty Income’s revenue for the quarter was up 31.4% on a year-over-year basis. Analysts forecast that Realty Income will post 3.93 EPS for the current year.

Realty Income Announces Dividend

The firm also recently announced a sep 24 dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.263 per share. This represents a yield of 5.2%. The ex-dividend date of this dividend is Tuesday, September 3rd. Realty Income’s dividend payout ratio is presently 291.67%.

Insider Activity at Realty Income

In other news, Director A. Larry Chapman sold 5,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $60.77, for a total value of $303,850.00. Following the completion of the sale, the director now owns 5,257 shares of the company’s stock, valued at $319,467.89. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.10% of the stock is owned by insiders.

Institutional Trading of Realty Income

A number of hedge funds have recently made changes to their positions in O. American National Bank purchased a new position in Realty Income in the fourth quarter valued at about $25,000. Vima LLC bought a new stake in shares of Realty Income in the 4th quarter valued at approximately $25,000. Pacifica Partners Inc. increased its holdings in Realty Income by 444.4% in the second quarter. Pacifica Partners Inc. now owns 490 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 400 shares during the last quarter. WASHINGTON TRUST Co increased its holdings in Realty Income by 65.7% in the first quarter. WASHINGTON TRUST Co now owns 497 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 197 shares during the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in Realty Income during the first quarter valued at approximately $27,000. 70.81% of the stock is owned by hedge funds and other institutional investors.

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.