Realty Income (NYSE:O) Coverage Initiated at Cantor Fitzgerald

Analysts at Cantor Fitzgerald began coverage on shares of Realty Income (NYSE:O) in a research report issued on Wednesday, MarketBeat reports. The brokerage set a “neutral” rating and a $64.00 price target on the real estate investment trust’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 6.53% from the stock’s previous close.

Several other analysts also recently commented on O. UBS Group lifted their target price on shares of Realty Income from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, August 15th. Barclays lifted their target price on shares of Realty Income from $58.00 to $59.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 20th. Wolfe Research downgraded shares of Realty Income from an “outperform” rating to a “peer perform” rating in a report on Monday, July 14th. Scotiabank lifted their target price on shares of Realty Income from $58.00 to $60.00 and gave the stock a “sector perform” rating in a report on Thursday, August 28th. Finally, Evercore ISI started coverage on shares of Realty Income in a report on Wednesday. They issued an “in-line” rating and a $62.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, Realty Income has an average rating of “Hold” and an average price target of $62.25.

Realty Income Stock Performance

Shares of O opened at $60.08 on Wednesday. The firm has a 50-day moving average of $58.68 and a 200-day moving average of $57.34. Realty Income has a one year low of $50.71 and a one year high of $64.88. The company has a market cap of $54.93 billion, a PE ratio of 58.33, a price-to-earnings-growth ratio of 4.62 and a beta of 0.78. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.85 and a quick ratio of 1.85.

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

Insider Activity at Realty Income

In other news, Director Mary Hogan Preusse sold 11,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $60.43, for a total value of $664,730.00. Following the completion of the transaction, the director directly owned 19,211 shares in the company, valued at approximately $1,160,920.73. The trade was a 36.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Realty Income

A number of institutional investors have recently added to or reduced their stakes in O. Norges Bank acquired a new position in Realty Income during the 2nd quarter worth approximately $676,500,000. Vanguard Group Inc. increased its position in Realty Income by 2.5% during 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 in the last quarter. Nuveen LLC bought a new stake in Realty Income during the 1st quarter worth approximately $207,573,000. Geode Capital Management LLC grew its holdings in 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 worth $1,548,687,000 after acquiring an additional 2,058,031 shares during the last quarter. Finally, Schroder Investment Management Group grew its holdings in Realty Income by 420.0% during the 2nd quarter. Schroder Investment Management Group now owns 2,139,550 shares of the real estate investment trust’s stock worth $123,259,000 after acquiring an additional 1,728,082 shares during the last quarter. 70.81% of the stock is currently 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.