Realty Income (NYSE:O) Given New $64.00 Price Target at Scotiabank

Realty Income (NYSE:O) had its price target boosted by Scotiabank from $61.00 to $64.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

A number of other analysts have also recently issued reports on O. Wells Fargo & Company increased their target price on Realty Income from $57.00 to $62.00 and gave the stock an equal weight rating in a research note on Monday, August 26th. UBS Group raised their price objective on shares of Realty Income from $61.00 to $68.00 and gave the stock a buy rating in a report on Thursday, July 18th. Royal Bank of Canada boosted their price objective on shares of Realty Income from $58.00 to $64.00 and gave the company an outperform rating in a research report on Wednesday, August 7th. 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. Finally, Wedbush started coverage on Realty Income in a report on Monday, August 19th. They issued a neutral rating and a $64.00 price target on the stock. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Realty Income has a consensus rating of Hold and a consensus price target of $62.59.

Realty Income Stock Up 1.5 %

Shares of NYSE:O opened at $61.63 on Tuesday. The company has a 50 day moving average of $60.28 and a 200-day moving average of $55.67. Realty Income has a one year low of $45.03 and a one year high of $63.39. The stock has a market cap of $53.67 billion, a price-to-earnings ratio of 57.06, a P/E/G ratio of 4.65 and a beta of 0.99. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.39 and a quick ratio of 1.39.

Realty Income (NYSE:O) last released 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 during the quarter, compared to the consensus estimate of $1.22 billion. Realty Income had a net margin of 17.89% and a return on equity of 3.27%. The company’s revenue for the quarter was up 31.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.00 EPS. On average, sell-side analysts forecast that Realty Income will post 3.93 earnings per share for the current year.

Realty Income Increases Dividend

The company also recently declared a oct 24 dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.2635 per share. This represents a dividend yield of 5%. The ex-dividend date of this dividend is Tuesday, October 1st. This is an increase from Realty Income’s previous oct 24 dividend of $0.26. Realty Income’s dividend payout ratio is 292.59%.

Insiders Place Their Bets

In related news, Director Mary Hogan Preusse sold 1,712 shares of the firm’s stock in a transaction dated 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the firm’s stock in a transaction that occurred 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 $1,663,313.82. 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 company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $60.77, for a total transaction of $303,850.00. Following the transaction, the director now owns 5,257 shares of the company’s stock, valued at $319,467.89. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Institutional Trading of Realty Income

Institutional investors and hedge funds have recently bought and sold shares of the stock. Founders Financial Securities LLC raised its stake in 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 worth $1,120,000 after buying an additional 181 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in shares of Realty Income by 0.6% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 35,285 shares of the real estate investment trust’s stock worth $1,864,000 after acquiring an additional 199 shares in the last quarter. Optimum Investment Advisors lifted its stake in shares of Realty Income by 11.1% in the 2nd 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 period. MeadowBrook Investment Advisors LLC boosted its position in shares of Realty Income by 3.4% during the 2nd 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 in the last quarter. Finally, First Affirmative Financial Network grew its stake in 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 worth $532,000 after purchasing an additional 201 shares during the period. 70.81% of the stock is currently 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.