Realty Income (NYSE:O) Shares Up 1.7% Following Dividend Announcement

Realty Income Corporation (NYSE:O) shares were up 1.7% on Wednesday after the company announced a dividend. The company traded as high as $60.32 and last traded at $60.2650. Approximately 6,733,459 shares were traded during mid-day trading, an increase of 5% from the average daily volume of 6,422,923 shares. The stock had previously closed at $59.23.

The newly announced dividend which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be issued a $0.27 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Friday, January 30th. Realty Income’s payout ratio is 300.00%.

Analysts Set New Price Targets

O has been the subject of several recent research reports. Mizuho reduced their price objective on Realty Income from $63.00 to $60.00 and set a “neutral” rating for the company in a research report on Wednesday, December 17th. Cantor Fitzgerald reduced 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. Morgan Stanley raised their price target on shares of Realty Income from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 24th. Weiss Ratings reissued a “hold (c)” rating on shares of Realty Income in a research report on Monday, December 29th. Finally, Royal Bank Of Canada increased their target price on shares of Realty Income from $60.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. Three investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $62.23.

Realty Income Trading Up 0.6%

The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.53 and a current ratio of 1.53. The firm has a fifty day moving average price of $57.34 and a 200 day moving average price of $58.09. The company has a market cap of $55.81 billion, a price-to-earnings ratio of 56.17, a P/E/G ratio of 3.88 and a beta of 0.80.

Realty Income (NYSE:O) last issued its earnings results on Monday, November 3rd. The real estate investment trust reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.01. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.35 billion. Realty Income had a net margin of 17.17% and a return on equity of 2.45%. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.05 earnings per share. Realty Income has set its FY 2025 guidance at 4.250-4.270 EPS. As a group, equities analysts predict that Realty Income Corporation will post 4.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Realty Income

Hedge funds and other institutional investors have recently bought and sold shares of the business. Brighton Jones LLC lifted its position in shares of Realty Income by 11.2% in the fourth quarter. Brighton Jones LLC now owns 6,101 shares of the real estate investment trust’s stock valued at $326,000 after buying an additional 615 shares during the last quarter. Bison Wealth LLC bought a new stake in Realty Income in the 4th quarter valued at $571,000. Empowered Funds LLC lifted its holdings in Realty Income by 8.0% during the 1st quarter. Empowered Funds LLC now owns 18,029 shares of the real estate investment trust’s stock valued at $1,041,000 after purchasing an additional 1,330 shares during the last quarter. Woodline Partners LP boosted its position in Realty Income by 41.3% during the first quarter. Woodline Partners LP now owns 73,942 shares of the real estate investment trust’s stock worth $4,289,000 after purchasing an additional 21,603 shares during the period. Finally, Intech Investment Management LLC boosted its position in Realty Income by 14.9% during the first quarter. Intech Investment Management LLC now owns 25,401 shares of the real estate investment trust’s stock worth $1,474,000 after purchasing an additional 3,290 shares during the period. 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.