Realty Income (NYSE:O) Sets New 12-Month High Following Analyst Upgrade

Realty Income Co. (NYSE:O) shares hit a new 52-week high during trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $60.00 to $67.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Realty Income traded as high as $62.83 and last traded at $62.76, with a volume of 660707 shares trading hands. The stock had previously closed at $62.28.

A number of other analysts have also recently issued reports on the stock. Morgan Stanley restated an “equal weight” rating and set a $62.00 target price on shares of Realty Income in a research note on Tuesday, August 6th. Mizuho raised their target price on shares of Realty Income from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Stifel Nicolaus raised their target price on shares of Realty Income from $67.50 to $70.25 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Wells Fargo & Company lifted their price objective on shares of Realty Income from $57.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Monday, August 26th. Finally, Wedbush began coverage on shares of Realty Income in a research note on Monday, August 19th. They issued a “neutral” rating and a $64.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $62.38.

Insider Activity at Realty Income

In related news, Director A. Larry Chapman sold 5,000 shares of Realty Income stock in a transaction that occurred 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 approximately $319,467.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Realty Income

A number of institutional investors have recently added to or reduced their stakes in the business. American National Bank acquired a new position in shares of Realty Income in the 4th quarter worth approximately $25,000. Vima LLC acquired a new position in shares of Realty Income in the 4th quarter worth approximately $25,000. Pacifica Partners Inc. lifted its position in shares of Realty Income by 444.4% in the 2nd quarter. Pacifica Partners Inc. now owns 490 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 400 shares during the period. Northwest Investment Counselors LLC acquired a new position in shares of Realty Income in the 1st quarter worth approximately $27,000. Finally, Bell Investment Advisors Inc lifted its position in shares of Realty Income by 69.6% in the 1st quarter. Bell Investment Advisors Inc now owns 529 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 217 shares during the period. 70.81% of the stock is owned by institutional investors.

Realty Income Stock Up 0.7 %

The stock has a market cap of $54.61 billion, a price-to-earnings ratio of 58.06, a P/E/G ratio of 4.62 and a beta of 0.96. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.66. The stock’s 50-day moving average price is $58.09 and its 200-day moving average price is $54.86.

Realty Income (NYSE:O) last released its earnings results on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). Realty Income had a net margin of 17.89% and a return on equity of 3.27%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the firm earned $1.00 EPS. The firm’s revenue was up 31.4% on a year-over-year basis. On average, sell-side analysts expect that Realty Income Co. will post 3.93 earnings per share for the current year.

Realty Income Announces Dividend

The business also recently announced a sep 24 dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.263 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a dividend yield of 5.2%. Realty Income’s payout ratio is presently 291.67%.

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.