Realty Income (NYSE:O) Trading Down 0.6% After Analyst Downgrade

Realty Income Co. (NYSE:O) shares fell 0.6% on Thursday after Royal Bank of Canada lowered their price target on the stock from $67.00 to $63.00. Royal Bank of Canada currently has an outperform rating on the stock. Realty Income traded as low as $56.61 and last traded at $56.63. 1,586,074 shares were traded during mid-day trading, a decline of 72% from the average session volume of 5,675,053 shares. The stock had previously closed at $57.00.

Several other equities analysts also recently weighed in on the stock. Morgan Stanley reiterated an “equal weight” rating and issued a $62.00 target price on shares of Realty Income in a research note on Tuesday, August 6th. Wedbush initiated coverage on shares of Realty Income in a report on Monday, August 19th. They set a “neutral” rating and a $64.00 target price on the stock. JPMorgan Chase & Co. raised their price target on Realty Income from $60.00 to $67.00 and gave the stock a “neutral” rating in a report on Tuesday, September 3rd. Wells Fargo & Company reiterated an “equal weight” rating and set a $65.00 price objective (up from $62.00) on shares of Realty Income in a research note on Tuesday, October 1st. Finally, Stifel Nicolaus cut their target price on Realty Income from $70.50 to $70.00 and set a “buy” rating for the company in a research note on Tuesday. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Realty Income presently has a consensus rating of “Hold” and an average price target of $63.85.

Insider Activity

In other news, Director Mary Hogan Preusse sold 1,712 shares of the business’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 completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Mary Hogan Preusse sold 1,712 shares of Realty Income stock in a transaction 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 transaction, the director now directly owns 26,579 shares of the company’s stock, valued at $1,663,313.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $60.77, for a total transaction of $303,850.00. Following the sale, the director now directly owns 5,257 shares of the company’s stock, valued at $319,467.89. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Realty Income

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Realty Income by 18.3% in the first quarter. Vanguard Group Inc. now owns 134,768,614 shares of the real estate investment trust’s stock worth $7,290,982,000 after buying an additional 20,848,560 shares during the period. Legal & General Group Plc boosted its position in shares of Realty Income by 4.5% during the second quarter. Legal & General Group Plc now owns 12,258,468 shares of the real estate investment trust’s stock valued at $647,492,000 after purchasing an additional 531,008 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Realty Income by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 11,682,105 shares of the real estate investment trust’s stock worth $617,043,000 after purchasing an additional 413,865 shares during the period. APG Asset Management US Inc. raised its holdings in Realty Income by 3.1% in the second quarter. APG Asset Management US Inc. now owns 8,680,325 shares of the real estate investment trust’s stock worth $454,502,000 after purchasing an additional 265,000 shares in the last quarter. Finally, Centersquare Investment Management LLC raised its holdings in Realty Income by 14.9% in the first quarter. Centersquare Investment Management LLC now owns 6,824,420 shares of the real estate investment trust’s stock worth $365,379,000 after purchasing an additional 885,852 shares in the last quarter. Institutional investors own 70.81% of the company’s stock.

Realty Income Price Performance

The firm has a 50-day simple moving average of $62.06 and a 200 day simple moving average of $57.85. The firm has a market cap of $49.38 billion, a PE ratio of 53.93, a price-to-earnings-growth ratio of 4.12 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 issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 2.38% and a net margin of 17.57%. The business’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.02 earnings per share. As a group, equities analysts expect that Realty Income Co. will post 4.2 EPS for the current year.

Realty Income Announces Dividend

The company also recently disclosed a nov 24 dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a $0.2635 dividend. The ex-dividend date is Friday, November 1st. This represents a yield of 5.1%. Realty Income’s payout ratio is currently 300.96%.

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.