Scotiabank Cuts Realty Income (NYSE:O) Price Target to $59.00

Realty Income (NYSE:O) had its target price decreased by Scotiabank from $61.00 to $59.00 in a research report report published on Thursday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust’s stock.

A number of other analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft began coverage on Realty Income in a research report on Wednesday, December 11th. They issued a “hold” rating and a $62.00 target price on the stock. Mizuho decreased their price objective on shares of Realty Income from $60.00 to $54.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. UBS Group cut their target price on shares of Realty Income from $72.00 to $71.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Royal Bank of Canada reduced their target price on shares of Realty Income from $67.00 to $63.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Finally, Barclays began coverage on shares of Realty Income in a report on Tuesday, December 17th. They issued an “equal weight” rating and a $59.00 price target on the stock. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Realty Income presently has a consensus rating of “Hold” and a consensus target price of $62.12.

Realty Income Price Performance

Shares of NYSE O opened at $54.62 on Thursday. The company has a fifty day moving average price of $54.92 and a 200 day moving average price of $58.32. The firm has a market cap of $47.80 billion, a PE ratio of 52.02, a PEG ratio of 1.85 and a beta of 1.00. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.68. Realty Income has a 1-year low of $50.65 and a 1-year high of $64.88.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.75). The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.26 billion. Realty Income had a return on equity of 2.35% and a net margin of 17.57%. The firm’s quarterly 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 earnings per share. Research analysts predict that Realty Income will post 4.19 earnings per share for the current fiscal year.

Realty Income Announces Dividend

The business also recently declared a feb 25 dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a $0.264 dividend. This represents a dividend yield of 5.9%. The ex-dividend date of this dividend is Monday, February 3rd. Realty Income’s payout ratio is currently 301.91%.

Institutional Investors Weigh In On Realty Income

Several institutional investors and hedge funds have recently bought and sold shares of the company. Rosenberg Matthew Hamilton boosted its holdings in shares of Realty Income by 75.4% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 491 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 211 shares in the last quarter. Creative Capital Management Investments LLC grew its position in Realty Income by 133.3% in the third quarter. Creative Capital Management Investments LLC now owns 525 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 300 shares during the last quarter. ST Germain D J Co. Inc. raised its stake in Realty Income by 306.5% during the fourth quarter. ST Germain D J Co. Inc. now owns 752 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 567 shares in the last quarter. Pacifica Partners Inc. raised its stake in Realty Income by 89.2% during the third quarter. Pacifica Partners Inc. now owns 927 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 437 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Realty Income by 313.5% in the third quarter. First Horizon Advisors Inc. now owns 947 shares of the real estate investment trust’s stock worth $60,000 after acquiring an additional 718 shares during the last quarter. 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.