Realty Income (NYSE:O) Stock Price Up 1.3% on Analyst Upgrade

Realty Income Corporation (NYSE:O)’s stock price shot up 1.3% on Wednesday after Barclays raised their price target on the stock from $58.00 to $59.00. Barclays currently has an equal weight rating on the stock. Realty Income traded as high as $60.06 and last traded at $59.79. 1,341,844 shares traded hands during trading, a decline of 76% from the average session volume of 5,483,335 shares. The stock had previously closed at $59.01.

Several other research firms also recently issued reports on O. UBS Group lifted their price target on shares of Realty Income from $62.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, August 15th. Wedbush reaffirmed a “neutral” rating and set a $61.00 price target on shares of Realty Income in a research note on Wednesday, May 7th. Wolfe Research downgraded shares of Realty Income from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 14th. Stifel Nicolaus lifted their price target on shares of Realty Income from $65.50 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Realty Income from $64.00 to $61.00 and set a “neutral” rating on the stock in a research note on Monday, May 5th. Three research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $61.82.

Institutional Investors Weigh In On Realty Income

Several hedge funds and other institutional investors have recently modified their holdings of O. Norges Bank bought a new stake in shares of Realty Income in the 2nd quarter worth about $676,500,000. Northern Trust Corp increased its position in shares of Realty Income by 41.2% in the 4th quarter. Northern Trust Corp now owns 13,139,719 shares of the real estate investment trust’s stock worth $701,792,000 after purchasing an additional 3,834,403 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Realty Income by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 146,136,211 shares of the real estate investment trust’s stock worth $8,418,907,000 after purchasing an additional 3,624,852 shares during the last quarter. Nuveen LLC bought a new stake in shares of Realty Income in the 1st quarter worth about $207,573,000. Finally, Geode Capital Management LLC grew its position in shares of Realty Income by 8.3% during the 2nd quarter. Geode Capital Management LLC now owns 26,979,134 shares of the real estate investment trust’s stock valued at $1,548,687,000 after buying an additional 2,058,031 shares during the last quarter. Institutional investors own 70.81% of the company’s stock.

Realty Income Trading Up 1.5%

The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.72. The business’s 50-day moving average is $57.49 and its two-hundred day moving average is $56.63. The firm has a market cap of $54.77 billion, a P/E ratio of 58.16, a P/E/G ratio of 4.51 and a beta of 0.76.

Realty Income (NYSE:O) last announced its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.01). Realty Income had a net margin of 16.77% and a return on equity of 2.34%. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the company earned $1.07 EPS. Realty Income’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, analysts expect that Realty Income Corporation will post 4.19 earnings per share for the current fiscal year.

Realty Income Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.269 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. This is a boost from Realty Income’s previous monthly dividend of $0.26. Realty Income’s payout ratio is currently 313.59%.

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.