Realty Income (NYSE:O) Hits New 12-Month High - Still a Buy?

Key Points

• Shares of Realty Income hit a new 52-week high at $64.14 (last $64.02) with a market cap of about $58.8B and 50-/200-day moving averages near $58.90 and $58.59.
• Analyst sentiment is mixed with a MarketBeat consensus of Hold (5 Buys, 10 Holds, 1 Sell) and an average target of $63.21—below the current price—while firms range from JPMorgan's underweight/$61 target to Deutsche Bank's upgrade to Buy with a $69 target.
• Realty Income declared a monthly $0.27 dividend (ex-div Jan 30, paid Feb 13) implying a 5.1% yield

Shares of Realty Income Corporation (NYSE:O - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $64.14 and last traded at $64.0150, with a volume of 3429999 shares trading hands. The stock had previously closed at $63.09.

Analysts Set New Price Targets

Several brokerages have commented on O. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $61.00 target price on shares of Realty Income in a report on Thursday, December 18th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Realty Income in a research report on Monday, December 29th. Wall Street Zen cut Realty Income from a "hold" rating to a "sell" rating in a research report on Tuesday, February 3rd. Barclays increased their price target on shares of Realty Income from $63.00 to $64.00 and gave the company an "equal weight" rating in a report on Wednesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft raised Realty Income from a "hold" rating to a "buy" rating and set a $69.00 price objective on the stock in a report on Tuesday, January 20th. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $63.21.

Realty Income Price Performance

The company has a 50-day moving average price of $58.90 and a 200-day moving average price of $58.59. The firm has a market capitalization of $58.80 billion, a P/E ratio of 59.19, a price-to-earnings-growth ratio of 3.74 and a beta of 0.79. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.53 and a current ratio of 1.53.

Realty Income Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be issued a $0.27 dividend. The ex-dividend date is Friday, January 30th. This represents a c) annualized dividend and a yield of 5.1%. Realty Income's dividend payout ratio (DPR) is 300.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in O. State Street Corp lifted its stake in Realty Income by 1.1% in the 2nd quarter. State Street Corp now owns 61,732,956 shares of the real estate investment trust's stock valued at $3,556,436,000 after purchasing an additional 676,697 shares during the last quarter. OLD National Bancorp IN bought a new stake in Realty Income in the third quarter valued at approximately $3,391,000. ProShare Advisors LLC lifted its position in shares of Realty Income by 5.3% in the third quarter. ProShare Advisors LLC now owns 3,067,894 shares of the real estate investment trust's stock valued at $186,497,000 after buying an additional 155,677 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Realty Income by 13.1% during the 2nd quarter. Federated Hermes Inc. now owns 2,669,031 shares of the real estate investment trust's stock worth $153,763,000 after acquiring an additional 309,902 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Realty Income by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,813,174 shares of the real estate investment trust's stock worth $334,897,000 after acquiring an additional 84,066 shares during the last quarter. 70.81% of the stock is currently owned by institutional investors.

Realty Income Company Profile

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.

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