Realty Income (NYSE:O) Price Target Raised to $64.00

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

Several other equities analysts have also issued reports on O. Stifel Nicolaus boosted their price target on Realty Income from $67.50 to $70.25 and gave the company a buy rating in a research note on Wednesday, August 28th. Morgan Stanley restated an equal weight rating and set a $62.00 price target on shares of Realty Income in a research note on Tuesday, August 6th. Robert W. Baird boosted their price target on Realty Income from $57.00 to $58.00 and gave the company a neutral rating in a research note on Tuesday, August 6th. Wells Fargo & Company lifted their price objective on Realty Income from $57.00 to $62.00 and gave the company an equal weight rating in a report on Monday, August 26th. Finally, Royal Bank of Canada lifted their price objective on Realty Income from $58.00 to $64.00 and gave the company an outperform rating in a report on Wednesday, August 7th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $62.59.

Realty Income Trading Down 2.4 %

Realty Income stock opened at $60.69 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.39 and a current ratio of 1.39. The business’s 50-day simple moving average is $60.16 and its 200-day simple moving average is $55.60. The firm has a market capitalization of $52.85 billion, a PE ratio of 56.19, a PEG ratio of 4.65 and a beta of 0.99. Realty Income has a 52 week low of $45.03 and a 52 week high of $63.39.

Realty Income (NYSE:O) last issued its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share (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 for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the firm earned $1.00 earnings per share. The company’s revenue was up 31.4% on a year-over-year basis. Equities research analysts forecast that Realty Income will post 3.93 earnings per share for the current year.

Realty Income Increases Dividend

The firm also recently announced a oct 24 dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a $0.2635 dividend. This is an increase from Realty Income’s previous oct 24 dividend of $0.26. This represents a dividend yield of 5%. The ex-dividend date of this dividend is Tuesday, October 1st. Realty Income’s payout ratio is presently 292.59%.

Insider Transactions 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 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 in the company, 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. 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 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 in the company, 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 business’s 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 completion of the transaction, the director now 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. 0.10% of the stock is owned by company insiders.

Institutional Trading of Realty Income

Several institutional investors and hedge funds have recently made changes to their positions in O. Vima LLC bought a new stake in shares of Realty Income during the 4th quarter valued at $25,000. Pacifica Partners Inc. raised its position in shares of Realty Income by 444.4% during the 2nd quarter. Pacifica Partners Inc. now owns 490 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 400 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of Realty Income during the 1st quarter valued at $27,000. Bell Investment Advisors Inc raised its position in shares of Realty Income by 69.6% during the 1st quarter. Bell Investment Advisors Inc now owns 529 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 217 shares during the last quarter. Finally, Able Wealth Management LLC bought a new stake in shares of Realty Income during the 4th quarter valued at $32,000. Institutional investors 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.