Wells Fargo & Company Reaffirms “Equal Weight” Rating for Realty Income (NYSE:O)

Wells Fargo & Company reaffirmed their equal weight rating on shares of Realty Income (NYSE:O) in a research report released on Tuesday, Benzinga reports. They currently have a $65.00 target price on the real estate investment trust’s stock, up from their previous target price of $62.00.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. lifted their price target on Realty Income from $60.00 to $67.00 and gave the company a neutral rating in a report on Tuesday, September 3rd. Robert W. Baird boosted their target price on shares of Realty Income from $57.00 to $58.00 and gave the stock a neutral rating in a research report on Tuesday, August 6th. Royal Bank of Canada raised their price target on shares of Realty Income from $58.00 to $64.00 and gave the company an outperform rating in a report on Wednesday, August 7th. Stifel Nicolaus upped their price objective on shares of Realty Income from $67.50 to $70.25 and gave the stock a buy rating in a report on Wednesday, August 28th. Finally, Scotiabank raised their target price on Realty Income from $61.00 to $64.00 and gave the company a sector perform rating in a report on Tuesday, September 17th. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $62.80.

Realty Income Trading Down 0.6 %

Shares of NYSE:O opened at $62.01 on Tuesday. Realty Income has a fifty-two week low of $45.03 and a fifty-two week high of $63.60. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.66. The company has a market cap of $54.00 billion, a PE ratio of 57.42, a P/E/G ratio of 4.34 and a beta of 0.99. The company’s 50-day moving average price is $61.34 and its 200 day moving average price is $56.38.

Realty Income (NYSE:O) last announced its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.07). The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.22 billion. Realty Income had a return on equity of 3.27% and a net margin of 17.89%. The business’s revenue for the quarter was up 31.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.00 EPS. Sell-side analysts anticipate that Realty Income will post 4.2 earnings per share for the current year.

Realty Income Increases Dividend

The company also recently announced a oct 24 dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a $0.2635 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This is a positive change from Realty Income’s previous oct 24 dividend of $0.26. This represents a yield of 5%. Realty Income’s dividend payout ratio (DPR) is 292.59%.

Insider Activity at Realty Income

In other news, Director A. Larry Chapman sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $60.77, for a total transaction of $303,850.00. Following the sale, the director now owns 5,257 shares of the company’s stock, valued at $319,467.89. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total transaction of $107,136.96. Following the completion of the transaction, the director now owns 26,579 shares in the company, valued at approximately $1,663,313.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director A. Larry Chapman sold 5,000 shares of the business’s 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 completion of the sale, the director now owns 5,257 shares in the company, valued at approximately $319,467.89. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Orion Portfolio Solutions LLC lifted its holdings in Realty Income by 61.8% during the 4th quarter. Orion Portfolio Solutions LLC now owns 14,080 shares of the real estate investment trust’s stock worth $837,000 after purchasing an additional 5,379 shares during the last quarter. Bank of Nova Scotia increased its position in Realty Income by 32.4% during the 4th quarter. Bank of Nova Scotia now owns 96,069 shares of the real estate investment trust’s stock worth $5,516,000 after buying an additional 23,485 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Realty Income during the fourth quarter worth $785,000. KBC Group NV boosted its position in shares of Realty Income by 1.4% in the fourth quarter. KBC Group NV now owns 167,643 shares of the real estate investment trust’s stock valued at $9,626,000 after acquiring an additional 2,308 shares during the period. Finally, Jones Financial Companies Lllp grew its stake in shares of Realty Income by 45.9% in the fourth quarter. Jones Financial Companies Lllp now owns 5,723 shares of the real estate investment trust’s stock valued at $329,000 after acquiring an additional 1,800 shares in the last quarter. 70.81% of the stock is currently owned by institutional investors.

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.