Realty Income Co. (NYSE:O – Get Free Report) was up 0.1% on Wednesday . The stock traded as high as $62.88 and last traded at $62.61. Approximately 915,723 shares were traded during trading, a decline of 84% from the average daily volume of 5,839,499 shares. The stock had previously closed at $62.56.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on O shares. Wedbush started coverage on shares of Realty Income in a research report on Monday, August 19th. They set a “neutral” rating and a $64.00 price objective on the stock. Royal Bank of Canada lifted their price objective on shares of Realty Income from $58.00 to $64.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. 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 report on Tuesday, August 6th. JPMorgan Chase & Co. boosted their price target on shares of Realty Income from $60.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Finally, Wells Fargo & Company boosted their price target on shares of Realty Income from $57.00 to $62.00 and gave the company an “equal weight” rating in a report on Monday, August 26th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $62.59.
Realty Income Stock Performance
The stock has a market cap of $54.46 billion, a price-to-earnings ratio of 57.97, a price-to-earnings-growth ratio of 4.34 and a beta of 0.99. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.39 and a current ratio of 1.39. The stock’s 50-day simple moving average is $60.53 and its two-hundred day simple moving average is $55.85.
Realty Income (NYSE:O – Get Free Report) last announced its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.22 billion. Realty Income had a net margin of 17.89% and a return on equity of 3.27%. The firm’s quarterly revenue was up 31.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 EPS. Analysts forecast that Realty Income Co. will post 4.2 earnings per share for the current year.
Realty Income Increases Dividend
The business also recently disclosed a oct 24 dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.2635 per share. The ex-dividend date of this dividend 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 currently 292.59%.
Insider Activity
In other news, Director Mary Hogan Preusse sold 1,712 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total transaction of $107,136.96. Following the completion of the transaction, the director now owns 26,579 shares of the company’s stock, valued at $1,663,313.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director A. Larry Chapman sold 5,000 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mary Hogan Preusse sold 1,712 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were 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 approximately $1,663,313.82. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.
Institutional Trading of Realty Income
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Founders Financial Securities LLC grew its stake in shares of Realty Income by 0.9% during the second quarter. Founders Financial Securities LLC now owns 21,210 shares of the real estate investment trust’s stock valued at $1,120,000 after purchasing an additional 181 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Realty Income by 0.6% during the second quarter. Crossmark Global Holdings Inc. now owns 35,285 shares of the real estate investment trust’s stock valued at $1,864,000 after purchasing an additional 199 shares during the last quarter. Optimum Investment Advisors grew its stake in shares of Realty Income by 11.1% during the second quarter. Optimum Investment Advisors now owns 2,000 shares of the real estate investment trust’s stock valued at $106,000 after purchasing an additional 200 shares during the last quarter. MeadowBrook Investment Advisors LLC grew its stake in shares of Realty Income by 3.4% during the second quarter. MeadowBrook Investment Advisors LLC now owns 6,092 shares of the real estate investment trust’s stock valued at $322,000 after purchasing an additional 200 shares during the last quarter. Finally, First Affirmative Financial Network grew its stake in shares of Realty Income by 2.1% during the first quarter. First Affirmative Financial Network now owns 9,828 shares of the real estate investment trust’s stock valued at $532,000 after purchasing an additional 201 shares during the last quarter. Institutional investors own 70.81% of the company’s stock.
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.