Realty Income (NYSE:O) Price Target Raised to $59.00

Realty Income (NYSE:O) had its price target lifted by Barclays from $58.00 to $59.00 in a report published on Wednesday,Benzinga reports. Barclays currently has an equal weight rating on the real estate investment trust’s stock.

O has been the topic of a number of other research reports. JPMorgan Chase & Co. decreased their target price on Realty Income from $64.00 to $61.00 and set a “neutral” rating on the stock in a research report on Monday, May 5th. Wolfe Research cut Realty Income from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 14th. Stifel Nicolaus lifted their target price on Realty Income from $65.50 to $68.00 and gave the company a “buy” rating in a research report on Tuesday, May 6th. Scotiabank lifted their target price on Realty Income from $57.00 to $58.00 and gave the company a “sector perform” rating in a research report on Monday, May 12th. Finally, UBS Group lifted their target price on Realty Income from $62.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, August 15th. Three equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Realty Income has a consensus rating of “Hold” and an average price target of $61.82.

Realty Income Stock Up 1.5%

Shares of NYSE O opened at $59.9050 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.85 and a current ratio of 1.85. Realty Income has a 52 week low of $50.71 and a 52 week high of $64.88. The stock has a market capitalization of $54.77 billion, a P/E ratio of 58.16, a PEG ratio of 4.51 and a beta of 0.76. The stock’s fifty day moving average is $57.49 and its 200 day moving average is $56.63.

Realty Income (NYSE:O) last released its earnings results on Wednesday, August 6th. The real estate investment trust reported $1.05 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the firm earned $1.07 EPS. The business’s revenue was up 5.3% on a year-over-year basis. Sell-side analysts forecast that Realty Income will post 4.19 earnings per share for the current fiscal year.

Realty Income Increases Dividend

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

Institutional Trading of Realty Income

A number of hedge funds have recently made changes to their positions in O. Norges Bank acquired a new stake in shares of Realty Income during the second quarter valued at about $676,500,000. Northern Trust Corp lifted its stake in shares of Realty Income by 41.2% in the fourth quarter. Northern Trust Corp now owns 13,139,719 shares of the real estate investment trust’s stock worth $701,792,000 after acquiring an additional 3,834,403 shares during the period. Vanguard Group Inc. lifted its stake in shares of Realty Income by 2.5% in the second quarter. Vanguard Group Inc. now owns 146,136,211 shares of the real estate investment trust’s stock worth $8,418,907,000 after acquiring an additional 3,624,852 shares during the period. Nuveen LLC acquired a new position in shares of Realty Income in the first quarter worth approximately $207,573,000. Finally, Geode Capital Management LLC lifted its stake in shares of Realty Income by 8.3% in the second 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 period. 70.81% of the stock is owned by institutional investors and hedge funds.

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.