Realty Income Co. (NYSE:O – Get Free Report) shares fell 0.7% during mid-day trading on Thursday . The stock traded as low as $59.79 and last traded at $60.06. 1,150,215 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 5,639,642 shares. The stock had previously closed at $60.48.
Analysts Set New Price Targets
O has been the subject of several research analyst reports. UBS Group upped their price target on shares of Realty Income from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $65.00 target price (up from $62.00) on shares of Realty Income in a research report on Tuesday, October 1st. Wedbush assumed coverage on Realty Income in a research report on Monday, August 19th. They set a “neutral” rating and a $64.00 price target for the company. Robert W. Baird raised their price objective on Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $62.00 target price on shares of Realty Income in a report on Tuesday, August 6th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $63.94.
Check Out Our Latest Report on Realty Income
Realty Income Trading Down 0.6 %
Realty Income (NYSE:O – Get Free Report) last issued its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). Realty Income had a net margin of 17.89% and a return on equity of 2.36%. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the business earned $1.00 EPS. Realty Income’s revenue for the quarter was up 31.4% compared to the same quarter last year. On average, analysts predict that Realty Income Co. will post 4.2 earnings per share for the current year.
Realty Income Announces Dividend
The firm also recently disclosed a nov 24 dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a $0.2635 dividend. This represents a yield of 5.1%. The ex-dividend date is Friday, November 1st. Realty Income’s dividend payout ratio is presently 292.59%.
Insider Buying and Selling at Realty Income
In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total value of $107,136.96. Following the transaction, the director now owns 26,579 shares of the company’s stock, valued at $1,663,313.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total value of $107,136.96. Following the sale, the director now directly owns 26,579 shares of the company’s stock, valued at $1,663,313.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director A. Larry Chapman sold 5,000 shares of the firm’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 completion of the sale, the director now owns 5,257 shares in the company, valued at $319,467.89. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.
Institutional Trading of Realty Income
Several hedge funds have recently added to or reduced their stakes in O. Vanguard Group Inc. boosted its stake in Realty Income by 18.3% during the 1st quarter. Vanguard Group Inc. now owns 134,768,614 shares of the real estate investment trust’s stock valued at $7,290,982,000 after purchasing an additional 20,848,560 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Realty Income by 4.5% during the 2nd quarter. Legal & General Group Plc now owns 12,258,468 shares of the real estate investment trust’s stock valued at $647,492,000 after purchasing an additional 531,008 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Realty Income by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 11,682,105 shares of the real estate investment trust’s stock valued at $617,043,000 after acquiring an additional 413,865 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Realty Income by 2.2% during the 1st quarter. Daiwa Securities Group Inc. now owns 9,214,683 shares of the real estate investment trust’s stock worth $498,514,000 after acquiring an additional 196,635 shares in the last quarter. Finally, APG Asset Management US Inc. grew its holdings in shares of Realty Income by 3.1% in the 2nd quarter. APG Asset Management US Inc. now owns 8,680,325 shares of the real estate investment trust’s stock worth $454,502,000 after acquiring an additional 265,000 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.
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