Realty Income (NYSE:O) Price Target Lowered to $63.00 at Royal Bank of Canada

Realty Income (NYSE:O) had its price objective cut by Royal Bank of Canada from $67.00 to $63.00 in a report published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the real estate investment trust’s stock.

O has been the topic of several other research reports. UBS Group raised their target price on shares of Realty Income from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $62.00 price objective on shares of Realty Income in a research note on Tuesday, August 6th. Wedbush initiated coverage on shares of Realty Income in a research note on Monday, August 19th. They issued a “neutral” rating and a $64.00 price objective on the stock. Robert W. Baird lifted their price objective on shares of Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $65.00 price objective (up previously from $62.00) on shares of Realty Income in a research note on Tuesday, October 1st. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Realty Income presently has a consensus rating of “Hold” and an average price target of $63.85.

Realty Income Stock Performance

NYSE:O traded down $0.40 during trading hours on Wednesday, reaching $56.60. 2,342,049 shares of the stock were exchanged, compared to its average volume of 5,678,553. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.66. The firm has a 50 day simple moving average of $62.06 and a 200-day simple moving average of $57.85. Realty Income has a 52 week low of $49.52 and a 52 week high of $64.88. The stock has a market capitalization of $49.29 billion, a P/E ratio of 53.93, a P/E/G ratio of 4.12 and a beta of 0.99.

Realty Income (NYSE:O) last posted its quarterly earnings results 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). Realty Income had a return on equity of 2.38% and a net margin of 17.57%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the business posted $1.02 earnings per share. The company’s quarterly revenue was up 28.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Realty Income will post 4.2 earnings per share for the current fiscal year.

Realty Income Dividend Announcement

The business also recently announced a nov 24 dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a dividend of $0.2635 per share. This represents a yield of 5.1%. The ex-dividend date is Friday, November 1st. Realty Income’s dividend payout ratio (DPR) is currently 300.96%.

Insider Buying and Selling

In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Mary Hogan Preusse sold 1,712 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total value of $107,136.96. Following the sale, the director now owns 26,579 shares in the company, valued at approximately $1,663,313.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director A. Larry Chapman sold 5,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $60.77, for a total transaction of $303,850.00. Following the completion of the sale, the director now owns 5,257 shares in the company, valued at $319,467.89. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

Institutional Trading of Realty Income

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Code Waechter LLC bought a new stake in shares of Realty Income in the 3rd quarter valued at about $1,308,000. Texas Permanent School Fund Corp increased its stake in shares of Realty Income by 15.0% in the 1st quarter. Texas Permanent School Fund Corp now owns 171,916 shares of the real estate investment trust’s stock valued at $9,301,000 after acquiring an additional 22,440 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Realty Income by 17.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,131,375 shares of the real estate investment trust’s stock valued at $61,208,000 after acquiring an additional 171,166 shares during the last quarter. Raymond James & Associates increased its stake in shares of Realty Income by 92.4% in the 3rd quarter. Raymond James & Associates now owns 6,479,542 shares of the real estate investment trust’s stock valued at $410,932,000 after acquiring an additional 3,112,560 shares during the last quarter. Finally, abrdn plc increased its stake in shares of Realty Income by 15.4% in the 3rd quarter. abrdn plc now owns 1,282,800 shares of the real estate investment trust’s stock valued at $81,079,000 after acquiring an additional 171,236 shares during the last quarter. 70.81% of the stock is owned by institutional investors.

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.