Realty Income (NYSE:O) Price Target Cut to $60.00 by Analysts at Royal Bank of Canada

Realty Income (NYSE:O) had its price objective trimmed by Royal Bank of Canada from $62.00 to $60.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

Other equities research analysts have also issued reports about the stock. Mizuho reduced their target price on shares of Realty Income from $60.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Stifel Nicolaus reduced their target price on shares of Realty Income from $70.00 to $66.50 and set a “buy” rating for the company in a report on Wednesday, January 8th. Barclays reduced their target price on shares of Realty Income from $59.00 to $56.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. UBS Group reduced their target price on shares of Realty Income from $72.00 to $71.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Realty Income in a report on Wednesday, December 11th. They issued a “hold” rating and a $62.00 target price for the company. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $61.96.

Realty Income Price Performance

NYSE O opened at $56.07 on Wednesday. Realty Income has a 52 week low of $50.65 and a 52 week high of $64.88. The firm has a market capitalization of $49.07 billion, a P/E ratio of 53.40, a PEG ratio of 2.10 and a beta of 1.00. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.68. The company has a 50-day moving average price of $54.07 and a 200-day moving average price of $57.98.

Realty Income (NYSE:O) last released its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $1.05 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.01). Realty Income had a net margin of 17.57% and a return on equity of 2.35%. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Equities research analysts anticipate that Realty Income will post 4.19 earnings per share for the current year.

Realty Income Increases Dividend

The firm also recently declared a mar 25 dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be paid a $0.268 dividend. This represents a yield of 5.7%. This is an increase from Realty Income’s previous mar 25 dividend of $0.26. The ex-dividend date is Monday, March 3rd. Realty Income’s dividend payout ratio is presently 305.71%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Realty Income by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 139,236,506 shares of the real estate investment trust’s stock valued at $7,436,622,000 after acquiring an additional 555,908 shares during the last quarter. Parnassus Investments LLC boosted its position in shares of Realty Income by 7.4% during the 3rd quarter. Parnassus Investments LLC now owns 24,448,225 shares of the real estate investment trust’s stock valued at $1,550,506,000 after acquiring an additional 1,676,293 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Realty Income by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 23,473,694 shares of the real estate investment trust’s stock valued at $1,253,584,000 after acquiring an additional 658,240 shares during the last quarter. Northern Trust Corp boosted its position in shares of Realty Income by 41.2% during the 4th quarter. Northern Trust Corp now owns 13,139,719 shares of the real estate investment trust’s stock valued at $701,792,000 after acquiring an additional 3,834,403 shares during the last quarter. Finally, Norges Bank bought a new stake in Realty Income in the fourth quarter worth $624,666,000. 70.81% of the stock is currently owned by institutional investors.

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.