Realty Income (NYSE:O) Price Target Cut to $59.00 by Analysts at Scotiabank

Realty Income (NYSE:O) had its price objective trimmed by Scotiabank from $61.00 to $59.00 in a research report released on Thursday,Benzinga reports. The firm currently has a sector perform rating on the real estate investment trust’s stock.

A number of other brokerages have also weighed in on O. Royal Bank of Canada reduced their price objective on Realty Income from $67.00 to $63.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Stifel Nicolaus reduced their price target on Realty Income from $70.00 to $66.50 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Barclays started coverage on Realty Income in a research note on Tuesday, December 17th. They issued an “equal weight” rating and a $59.00 price objective for the company. Wells Fargo & Company reiterated an “equal weight” rating and set a $65.00 target price (up from $62.00) on shares of Realty Income in a research report on Tuesday, October 1st. Finally, UBS Group decreased their price target on shares of Realty Income from $72.00 to $71.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $62.12.

Realty Income Stock Up 2.7 %

O stock opened at $54.58 on Thursday. The firm has a 50-day moving average price of $55.01 and a 200-day moving average price of $58.34. Realty Income has a 12 month low of $50.65 and a 12 month high of $64.88. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $47.77 billion, a P/E ratio of 51.98, a price-to-earnings-growth ratio of 1.85 and a beta of 1.00.

Realty Income (NYSE:O) last issued its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.75). The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.26 billion. Realty Income had a net margin of 17.57% and a return on equity of 2.35%. Realty Income’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.02 EPS. As a group, equities research analysts anticipate that Realty Income will post 4.19 EPS for the current fiscal year.

Realty Income Announces Dividend

The company also recently declared a feb 25 dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.264 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a yield of 5.9%. Realty Income’s dividend payout ratio (DPR) is currently 300.95%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Mutual of America Capital Management LLC increased its holdings in Realty Income by 0.7% in the second quarter. Mutual of America Capital Management LLC now owns 115,367 shares of the real estate investment trust’s stock worth $6,094,000 after purchasing an additional 778 shares in the last quarter. Argent Trust Co raised its holdings in shares of Realty Income by 36.5% during the second quarter. Argent Trust Co now owns 5,907 shares of the real estate investment trust’s stock valued at $312,000 after purchasing an additional 1,580 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Realty Income by 15.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 73,994 shares of the real estate investment trust’s stock valued at $3,726,000 after acquiring an additional 9,874 shares in the last quarter. Elo Mutual Pension Insurance Co raised its holdings in Realty Income by 11.2% during the second quarter. Elo Mutual Pension Insurance Co now owns 84,336 shares of the real estate investment trust’s stock worth $4,455,000 after buying an additional 8,467 shares during the last quarter. Finally, Kentucky Retirement Systems lifted its stake in shares of Realty Income by 3.9% in the second quarter. Kentucky Retirement Systems now owns 65,618 shares of the real estate investment trust’s stock valued at $3,466,000 after buying an additional 2,461 shares in 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.