Realty Income (NYSE:O) Shares Up 2.1% – Here’s What Happened

Shares of Realty Income Co. (NYSE:O) shot up 2.1% during trading on Tuesday . The stock traded as high as $63.53 and last traded at $63.40. 979,312 shares were traded during mid-day trading, a decline of 83% from the average session volume of 5,733,183 shares. The stock had previously closed at $62.11.

Analysts Set New Price Targets

Several research firms recently commented on O. Wedbush initiated coverage on shares of Realty Income in a research report on Monday, August 19th. They issued a “neutral” rating and a $64.00 price target for the company. UBS Group upped their price objective on shares of Realty Income from $61.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Morgan Stanley restated an “equal weight” rating and set a $62.00 price objective on shares of Realty Income in a research report on Tuesday, August 6th. Robert W. Baird increased their price target on shares of Realty Income from $57.00 to $58.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Finally, Royal Bank of Canada increased their price target on shares of Realty Income from $58.00 to $64.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $63.63.

Realty Income Trading Up 2.0 %

The business’s 50 day moving average is $61.73 and its two-hundred day moving average is $56.81. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $55.18 billion, a P/E ratio of 58.82, a PEG ratio of 4.30 and a beta of 0.99.

Realty Income (NYSE:O) last announced its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.07). Realty Income had a net margin of 17.89% and a return on equity of 2.36%. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the firm posted $1.00 EPS. The company’s quarterly revenue was up 31.4% compared to the same quarter last year. Analysts expect that Realty Income Co. will post 4.2 EPS for the current year.

Realty Income Announces Dividend

The business also recently declared a nov 24 dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a $0.2635 dividend. This represents a yield of 5.1%. The ex-dividend date of this dividend is Friday, November 1st. Realty Income’s dividend payout ratio (DPR) is 292.59%.

Insider Transactions at Realty Income

In related news, Director A. Larry Chapman sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $60.77, for a total value of $303,850.00. Following the transaction, the director now owns 5,257 shares in the company, valued at $319,467.89. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director A. Larry Chapman sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $60.77, for a total transaction of $303,850.00. Following the sale, the director now owns 5,257 shares of the company’s stock, valued at $319,467.89. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mary Hogan Preusse sold 1,712 shares of the 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 transaction, the director now owns 26,579 shares of the company’s stock, valued at approximately $1,663,313.82. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Institutional Trading of Realty Income

A number of institutional investors have recently modified their holdings of O. Code Waechter LLC acquired a new position in Realty Income in the 3rd quarter worth about $1,308,000. Texas Permanent School Fund Corp boosted its holdings in Realty Income by 15.0% in the first quarter. Texas Permanent School Fund Corp now owns 171,916 shares of the real estate investment trust’s stock worth $9,301,000 after acquiring an additional 22,440 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Realty Income by 17.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,131,375 shares of the real estate investment trust’s stock worth $61,208,000 after acquiring an additional 171,166 shares in the last quarter. Swedbank AB bought a new position in shares of Realty Income in the first quarter valued at approximately $3,017,000. Finally, Envestnet Portfolio Solutions Inc. increased its position in shares of Realty Income by 33.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 57,880 shares of the real estate investment trust’s stock valued at $3,131,000 after acquiring an additional 14,644 shares during the last quarter. 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.