Realty Income (NYSE:O) Sets New 52-Week High – Should You Buy?

Realty Income Corporation (NYSE:O) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $67.15 and last traded at $66.9390, with a volume of 597558 shares trading hands. The stock had previously closed at $66.14.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Mizuho reduced their price target on Realty Income from $63.00 to $60.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. Deutsche Bank Aktiengesellschaft upgraded Realty Income from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research report on Tuesday, January 20th. Cantor Fitzgerald dropped their price target on Realty Income from $64.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Scotiabank raised Realty Income from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $60.00 to $67.00 in a research note on Friday, January 30th. Finally, Royal Bank Of Canada raised their price objective on Realty Income from $60.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Realty Income has a consensus rating of “Hold” and a consensus price target of $63.21.

Realty Income Stock Performance

The company has a debt-to-equity ratio of 0.72, a current ratio of 1.53 and a quick ratio of 1.53. The company has a market capitalization of $61.34 billion, a PE ratio of 61.78, a P/E/G ratio of 3.91 and a beta of 0.79. The stock has a 50-day simple moving average of $60.29 and a 200 day simple moving average of $59.12.

Realty Income Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be paid a $0.27 dividend. This represents a c) dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Friday, February 27th. Realty Income’s dividend payout ratio is presently 300.00%.

Institutional Trading of Realty Income

Institutional investors and hedge funds have recently modified their holdings of the business. Stance Capital LLC acquired a new position in shares of Realty Income during the 3rd quarter valued at about $27,000. EFG International AG purchased a new stake in Realty Income in the fourth quarter valued at approximately $26,000. Heartwood Wealth Advisors LLC purchased a new stake in Realty Income in the third quarter valued at approximately $29,000. Strengthening Families & Communities LLC increased its position in Realty Income by 586.1% during the third quarter. Strengthening Families & Communities LLC now owns 494 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 422 shares during the last quarter. Finally, Evolution Wealth Management Inc. raised its stake in Realty Income by 257.1% during the fourth quarter. Evolution Wealth Management Inc. now owns 500 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 360 shares during the period. Hedge funds and other institutional investors own 70.81% of the company’s stock.

About Realty Income

Realty Income Corporation (NYSE: O) is a real estate investment trust (REIT) that acquires, owns and manages commercial properties subject primarily to long-term net lease agreements. The company’s business model focuses on generating predictable, contractual rental income by leasing properties to tenants under agreements that typically place responsibility for taxes, insurance and maintenance on the tenant. Realty Income is publicly traded on the New York Stock Exchange and markets itself as a reliable income-oriented REIT.

Realty Income’s portfolio is concentrated in single-tenant, retail and service-oriented properties such as drugstores, convenience stores, dollar and discount retailers, restaurants, and other essential-service businesses.