Realty Income Corporation (NYSE:O) Stock Has Average Price Target of $71.81

Realty Income Corporation (NYSE:O) has been assigned an average recommendation of “Hold” from the eighteen ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $71.69.

Several equities research analysts have issued reports on the company. Scotiabank downgraded Realty Income from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $67.00 to $59.00 in a report on Wednesday, September 23rd. Wells Fargo & Company decreased their price objective on shares of Realty Income from $64.00 to $59.00 and set an “equal weight” rating on the stock in a report on Monday, October 19th. Weiss Ratings lowered shares of Realty Income from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 30th. Barclays dropped their price objective on shares of Realty Income from $65.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 20th. Finally, Huntington assumed coverage on shares of Realty Income in a research note on Monday, November 2nd. They set a “strong-buy” rating for the company.

Realty Income Price Performance

Shares of NYSE O opened at $59.57 on Wednesday. The business’s 50 day moving average price is $57.02 and its two-hundred day moving average price is $61.53. The company has a market cap of $56.65 billion, a PE ratio of 41.08, a price-to-earnings-growth ratio of 4.59 and a beta of 0.65. The company has a quick ratio of 6.04, a current ratio of 6.04 and a debt-to-equity ratio of 0.74. Realty Income has a twelve month low of $53.15 and a twelve month high of $67.93.

Realty Income (NYSE:O) last issued its earnings results on Monday, November 2nd. The real estate investment trust reported $0.43 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02. The company had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.43 billion. Realty Income had a return on equity of 3.27% and a net margin of 21.85%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.08 EPS. On average, analysts predict that Realty Income will post 4.50 EPS for the current year.

Realty Income Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be issued a $0.2740 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a $3.29 annualized dividend and a yield of 5.5%. This is an increase from Realty Income’s previous monthly dividend of $0.2715. Realty Income’s payout ratio is currently 224.14%.

Institutional Investors Weigh In On Realty Income

Several hedge funds have recently bought and sold shares of O. BlackRock Inc. acquired a new position in shares of Realty Income in the second quarter valued at approximately $6,997,219,000. State Street Corp increased its stake in shares of Realty Income by 3.4% during the second quarter. State Street Corp now owns 65,929,425 shares of the real estate investment trust’s stock worth $4,102,484,000 after purchasing an additional 2,166,180 shares during the period. Bank of America Corp DE lifted its holdings in Realty Income by 10.3% during the 2nd quarter. Bank of America Corp DE now owns 19,117,994 shares of the real estate investment trust’s stock worth $1,184,551,000 after purchasing an additional 1,785,859 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Realty Income by 1.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 13,018,219 shares of the real estate investment trust’s stock worth $796,457,000 after purchasing an additional 154,581 shares during the last quarter. Finally, Legal & General Group Plc acquired a new stake in Realty Income during the 2nd quarter worth approximately $643,334,000. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Key Realty Income News

Here are the key news stories impacting Realty Income this week:

• Positive Sentiment: Realty Income raised its monthly dividend to $0.2740 per share from $0.2715, its 137th increase. The higher payout reinforces the REIT’s income appeal, though the increase is modest. Dividend announcement
• Neutral Sentiment: Truist raised its price target to $63 from $60 but kept a Hold rating, indicating some potential upside while signaling a cautious stance. Truist price target update
• Neutral Sentiment: A valuation article estimates shares are about 4% below fair value and points to continuing dividend growth, offering a modestly supportive view rather than a strong catalyst. Valuation and dividend growth article
• Negative Sentiment: A Seeking Alpha article flags slowing growth as a concern, which could weigh on investor enthusiasm if growth in the business or dividend fails to meet expectations. Slowing growth analysis

Realty Income Company Profile

Realty Income Corporation is a real estate investment trust (REIT) that owns and manages commercial properties leased to businesses. Its portfolio includes retail, industrial, gaming, and other properties, typically leased under long-term net lease agreements in which tenants are responsible for many property operating expenses. Founded in 1969, Realty Income is known as “The Monthly Dividend Company” for its monthly dividend payments. The company serves tenants across the United States and has expanded its property portfolio into Europe.