Realty Income (NYSE:O) Sees Unusually-High Trading Volume - Here's Why

Key Points

• Realty Income shares traded about 4.13 million shares, down 32% from the prior session, while the stock edged up 1% to approximately $62.02.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $67.42; recent targets range from $67 to $70.
• The REIT announced a monthly dividend of $0.271 per share, representing a 5.2% yield, while institutional investors own approximately 70.81% of its stock.

Shares of Realty Income Corporation (NYSE:O - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 4,130,455 shares changed hands during trading, a decline of 32% from the previous session's volume of 6,056,252 shares.The stock last traded at $62.0210 and had previously closed at $61.89.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on O shares. Jefferies Financial Group began coverage on shares of Realty Income in a report on Monday, June 1st. They set a "buy" rating and a $69.00 target price on the stock. Evercore set a $68.00 price target on shares of Realty Income in a research note on Friday. Royal Bank Of Canada reduced their price objective on Realty Income from $71.00 to $70.00 and set an "outperform" rating on the stock in a research note on Friday, August 7th. Weiss Ratings upgraded Realty Income from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, August 6th. Finally, Barclays dropped their price objective on Realty Income from $68.00 to $67.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $67.42.

Realty Income Trading Up 1.0%

The stock has a market cap of $59.12 billion, a P/E ratio of 45.61, a PEG ratio of 4.51 and a beta of 0.71. The company has a current ratio of 5.88, a quick ratio of 5.88 and a debt-to-equity ratio of 0.73. The stock's fifty day moving average price is $62.91 and its 200 day moving average price is $63.06.

Realty Income Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a $0.271 dividend. This represents a c) annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Friday, July 31st. Realty Income's payout ratio is 237.23%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of O. Vanguard Group Inc. increased its stake in shares of Realty Income by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 150,415,287 shares of the real estate investment trust's stock worth $8,478,910,000 after purchasing an additional 684,949 shares in the last quarter. Danske Bank A S raised its position in shares of Realty Income by 20.3% during the 4th quarter. Danske Bank A S now owns 568,121 shares of the real estate investment trust's stock valued at $32,025,000 after purchasing an additional 95,773 shares during the period. World Investment Advisors lifted its stake in shares of Realty Income by 68.8% during the 4th quarter. World Investment Advisors now owns 220,836 shares of the real estate investment trust's stock valued at $12,449,000 after buying an additional 90,023 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Realty Income by 0.7% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,323,920 shares of the real estate investment trust's stock worth $130,999,000 after buying an additional 16,546 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Realty Income by 5.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,730,032 shares of the real estate investment trust's stock worth $156,458,000 after buying an additional 140,685 shares in the last quarter. Hedge funds and other 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.

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