Realty Income (NYSE:O) Stock Price Up 1.3% – What’s Next?
by Danessa Lincoln · The Markets DailyRealty Income Corporation (NYSE:O – Get Free Report)’s stock price rose 1.3% on Wednesday . The company traded as high as $56.74 and last traded at $56.6350. Approximately 2,414,436 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 5,636,727 shares. The stock had previously closed at $55.93.
Wall Street Analyst Weigh In
Several research firms recently commented on O. Evercore ISI initiated coverage on shares of Realty Income in a research note on Wednesday, October 1st. They set an “in-line” rating and a $62.00 price objective on the stock. Cantor Fitzgerald lowered their target price on shares of Realty Income from $64.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $61.00 price target on shares of Realty Income in a research report on Thursday, December 18th. Scotiabank raised their price objective on Realty Income from $58.00 to $60.00 and gave the company a “sector perform” rating in a research report on Thursday, August 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Realty Income in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Realty Income presently has a consensus rating of “Hold” and an average target price of $62.23.
Check Out Our Latest Stock Analysis on Realty Income
Realty Income Stock Performance
The company has a market capitalization of $52.10 billion, a PE ratio of 52.44, a price-to-earnings-growth ratio of 3.55 and a beta of 0.80. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.72. The business’s fifty day moving average is $57.71 and its two-hundred day moving average is $58.06.
Realty Income (NYSE:O – Get Free Report) last posted its earnings results on Monday, November 3rd. The real estate investment trust reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.01. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.35 billion. Realty Income had a return on equity of 2.45% and a net margin of 17.17%.The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.05 EPS. Realty Income has set its FY 2025 guidance at 4.250-4.270 EPS. Equities research analysts predict that Realty Income Corporation will post 4.19 earnings per share for the current year.
Realty Income Increases Dividend
The business also recently declared a monthly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a $0.27 dividend. This is a boost from Realty Income’s previous monthly dividend of $0.27. This represents a c) dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date is Wednesday, December 31st. Realty Income’s dividend payout ratio (DPR) is presently 300.00%.
Insider Buying and Selling at Realty Income
In related news, Director Mary Hogan Preusse sold 11,000 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $60.43, for a total transaction of $664,730.00. Following the transaction, the director owned 19,211 shares in the company, valued at $1,160,920.73. This represents a 36.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is owned by insiders.
Hedge Funds Weigh In On Realty Income
Several hedge funds and other institutional investors have recently modified their holdings of O. Brighton Jones LLC lifted its holdings in 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 acquiring an additional 615 shares during the period. Bison Wealth LLC purchased a new stake in shares of Realty Income during the 4th quarter valued at about $571,000. Wellington Management Group LLP lifted its stake in shares of Realty Income by 10.7% in the 1st quarter. Wellington Management Group LLP now owns 204,821 shares of the real estate investment trust’s stock worth $11,882,000 after purchasing an additional 19,810 shares during the period. Quantbot Technologies LP purchased a new position in shares of Realty Income in the first quarter worth approximately $77,000. Finally, CW Advisors LLC boosted its holdings in shares of Realty Income by 24.4% in the first quarter. CW Advisors LLC now owns 17,103 shares of the real estate investment trust’s stock worth $989,000 after buying an additional 3,353 shares during the last quarter. 70.81% of the stock is owned by institutional investors.
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.