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

Realty Income (NYSE:O) had its price target hoisted by Scotiabank from $61.00 to $64.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The brokerage currently has a sector perform rating on the real estate investment trust’s stock.

A number of other equities analysts have also issued reports on the company. KeyCorp assumed coverage on Realty Income in a research note on Wednesday, June 12th. They set a sector weight rating for the company. UBS Group increased their price target on Realty Income from $61.00 to $68.00 and gave the company a buy rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. increased their price target on Realty Income from $60.00 to $67.00 and gave the company a neutral rating in a research note on Tuesday, September 3rd. Morgan Stanley reaffirmed an equal weight rating and set a $62.00 price target on shares of Realty Income in a research note on Tuesday, August 6th. Finally, Wells Fargo & Company increased their price objective on Realty Income from $57.00 to $62.00 and gave the company an equal weight rating in a research report on Monday, August 26th. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $62.59.

Realty Income Stock Performance

Shares of O stock opened at $60.69 on Tuesday. Realty Income has a 12-month low of $45.03 and a 12-month high of $63.39. The firm has a market capitalization of $52.85 billion, a price-to-earnings ratio of 56.19, a price-to-earnings-growth ratio of 4.65 and a beta of 0.99. The business has a 50 day simple moving average of $60.16 and a 200 day simple moving average of $55.60. 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 issued its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). Realty Income had a return on equity of 3.27% and a net margin of 17.89%. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the company earned $1.00 earnings per share. The business’s quarterly revenue was up 31.4% compared to the same quarter last year. On average, equities research analysts anticipate that Realty Income will post 3.93 EPS 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. The ex-dividend date is Tuesday, October 1st. This represents a dividend yield of 5%. This is a positive change from Realty Income’s previous oct 24 dividend of $0.26. Realty Income’s dividend payout ratio is presently 292.59%.

Insider Activity

In related news, Director Mary Hogan Preusse sold 1,712 shares of the stock in a transaction 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 sale, the director now directly owns 26,579 shares in the company, valued at $1,663,313.82. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Mary Hogan Preusse sold 1,712 shares of the stock in a transaction 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 sale, the director now directly owns 26,579 shares in the company, valued at $1,663,313.82. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director A. Larry Chapman sold 5,000 shares of the 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 sale, the director now owns 5,257 shares of the company’s stock, valued at $319,467.89. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Realty Income

Several hedge funds have recently bought and sold shares of O. Vima LLC acquired a new position in Realty Income during the fourth quarter worth $25,000. Pacifica Partners Inc. grew its position in shares of Realty Income by 444.4% in the second quarter. Pacifica Partners Inc. now owns 490 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 400 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Realty Income in the first quarter valued at about $27,000. Bell Investment Advisors Inc increased its stake in shares of Realty Income by 69.6% in the first quarter. Bell Investment Advisors Inc now owns 529 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 217 shares during the period. Finally, Able Wealth Management LLC bought a new position in shares of Realty Income in the fourth quarter worth about $32,000. 70.81% of the stock is owned by institutional investors and hedge funds.

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.