Royal Bank of Canada Cuts Realty Income (NYSE:O) Price Target to $60.00

Realty Income (NYSE:O) had its price target cut by Royal Bank of Canada from $62.00 to $60.00 in a research note published on Wednesday,Benzinga reports. They currently have an outperform rating on the real estate investment trust’s stock.

A number of other research firms have also issued reports on O. Scotiabank decreased their price objective on Realty Income from $61.00 to $59.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft assumed coverage on Realty Income in a research report on Wednesday, December 11th. They set a “hold” rating and a $62.00 target price for the company. BNP Paribas cut Realty Income from an “outperform” rating to a “neutral” rating and set a $61.00 target price for the company. in a research report on Tuesday. UBS Group reduced their target price on Realty Income from $72.00 to $71.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Finally, Barclays reduced their target price on Realty Income from $59.00 to $56.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $61.81.

Realty Income Stock Performance

NYSE:O opened at $57.03 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.40 and a current ratio of 1.40. Realty Income has a 52-week low of $50.65 and a 52-week high of $64.88. The firm has a market cap of $49.91 billion, a price-to-earnings ratio of 54.31, a PEG ratio of 2.10 and a beta of 1.00. The business’s fifty day moving average is $54.25 and its 200 day moving average is $57.95.

Realty Income (NYSE:O) last released its quarterly earnings data on Monday, February 24th. 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 17.57% and a return on equity of 2.35%. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.28 billion. Research analysts predict that Realty Income will post 4.19 EPS for the current year.

Realty Income Increases Dividend

The business also recently declared a mar 25 dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be given a dividend of $0.268 per share. This represents a yield of 5.7%. This is a positive change from Realty Income’s previous mar 25 dividend of $0.26. The ex-dividend date is Monday, March 3rd. Realty Income’s dividend payout ratio (DPR) is presently 327.55%.

Hedge Funds Weigh In On Realty Income

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Lee Danner & Bass Inc. purchased a new stake in Realty Income in the 4th quarter worth approximately $28,000. Hopwood Financial Services Inc. purchased a new stake in Realty Income in the 4th quarter worth approximately $29,000. Rosenberg Matthew Hamilton lifted its holdings in Realty Income by 75.4% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 491 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 211 shares during the period. Sierra Ocean LLC purchased a new stake in Realty Income in the 4th quarter worth approximately $32,000. Finally, Creative Capital Management Investments LLC lifted its holdings in Realty Income by 133.3% in the 3rd quarter. Creative Capital Management Investments LLC now owns 525 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 300 shares during the period. 70.81% of the stock is currently owned by institutional investors.

About Realty Income

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.