Realty Income (NYSE:O) Shares Down 0.6% Following Analyst Downgrade

Realty Income Co. (NYSE:O)’s share price fell 0.6% during mid-day trading 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 traded hands during trading, a decline of 72% from the average session volume of 5,675,053 shares. The stock had previously closed at $57.00.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. lifted their price target on shares of Realty Income from $60.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Morgan Stanley reiterated an “equal weight” rating and issued a $62.00 price target on shares of Realty Income in a research note on Tuesday, August 6th. Scotiabank boosted their price objective on Realty Income from $61.00 to $64.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 17th. Wedbush initiated coverage on Realty Income in a research note on Monday, August 19th. They issued a “neutral” rating and a $64.00 price objective for the company. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $65.00 target price (up previously from $62.00) on shares of Realty Income in a research note on Tuesday, October 1st. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Realty Income currently has an average rating of “Hold” and a consensus price target of $63.85.

Insider Buying and Selling

In other news, Director Mary Hogan Preusse sold 1,712 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total transaction of $107,136.96. Following the transaction, 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 document filed with the SEC, which can be accessed through the SEC website. In related news, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $60.77, for a total value 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mary Hogan Preusse sold 1,712 shares of the business’s stock in a transaction that occurred 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 owns 26,579 shares of the company’s stock, valued at $1,663,313.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Realty Income

A number of institutional investors and hedge funds have recently modified their holdings of the business. Swiss National Bank grew its holdings in shares of Realty Income by 1.4% in the third quarter. Swiss National Bank now owns 2,584,694 shares of the real estate investment trust’s stock worth $163,921,000 after purchasing an additional 35,100 shares during the last quarter. Atlanta Consulting Group Advisors LLC bought a new position in Realty Income in the 3rd quarter worth about $896,000. RIA Advisory Group LLC purchased a new position in shares of Realty Income during the third quarter worth approximately $316,000. Natixis Advisors LLC increased its position in shares of Realty Income by 6.5% during the third quarter. Natixis Advisors LLC now owns 302,343 shares of the real estate investment trust’s stock worth $19,175,000 after acquiring an additional 18,409 shares during the period. Finally, Coastline Trust Co bought a new stake in shares of Realty Income during the third quarter valued at approximately $175,000. 70.81% of the stock is owned by institutional investors.

Realty Income Stock Down 0.5 %

The stock 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 business has a fifty day moving average of $62.06 and a 200-day moving average of $57.85. 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 announced its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.75). Realty Income had a net margin of 17.57% and a return on equity of 2.38%. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the business posted $1.02 EPS. The business’s quarterly revenue was up 28.1% on a year-over-year basis. Equities research analysts anticipate that Realty Income Co. will post 4.2 earnings per share for the current year.

Realty Income Announces Dividend

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

About Realty Income

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.