Realty Income (NYSE:O) Trading Up 1.2% - Here's What Happened

Realty Income Corporation (NYSE:O - Get Free Report) shares traded up 1.2% on Tuesday . The company traded as high as $57.89 and last traded at $58.02. 1,527,421 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 5,222,438 shares. The stock had previously closed at $57.34.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on O. Barclays reissued an "overweight" rating on shares of Realty Income in a research note on Tuesday, April 22nd. Wedbush reissued a "neutral" rating and set a $61.00 price target on shares of Realty Income in a research report on Wednesday, May 7th. UBS Group dropped their price target on Realty Income from $64.00 to $62.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Mizuho lifted their price objective on Realty Income from $54.00 to $59.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Finally, Scotiabank boosted their target price on Realty Income from $57.00 to $58.00 and gave the stock a "sector perform" rating in a report on Monday, May 12th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Realty Income presently has an average rating of "Hold" and an average price target of $61.15.

Realty Income Trading Up 0.4%

The firm has a fifty day moving average of $56.73 and a 200 day moving average of $55.67. The firm has a market capitalization of $52.22 billion, a PE ratio of 52.56, a P/E/G ratio of 4.03 and a beta of 0.75. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.74 and a current ratio of 1.74.

Realty Income (NYSE:O - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.06. Realty Income had a net margin of 18.15% and a return on equity of 2.51%. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the company earned $1.03 earnings per share. Realty Income's revenue for the quarter was up 9.5% on a year-over-year basis. Equities research analysts expect that Realty Income Corporation will post 4.19 EPS for the current year.

Realty Income Increases Dividend

The company also recently declared a jul 25 dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid a dividend of $0.269 per share. This is an increase from Realty Income's previous jul 25 dividend of $0.27. The ex-dividend date is Tuesday, July 1st. This represents a yield of 5.6%. Realty Income's payout ratio is 292.73%.

Hedge Funds Weigh In On Realty Income

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Realty Income by 2.4% in the first quarter. Vanguard Group Inc. now owns 142,511,359 shares of the real estate investment trust's stock valued at $8,267,084,000 after acquiring an additional 3,274,853 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Realty Income by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 23,473,694 shares of the real estate investment trust's stock valued at $1,253,584,000 after purchasing an additional 658,240 shares in the last quarter. Northern Trust Corp lifted its position in shares of Realty Income by 41.2% during the fourth quarter. Northern Trust Corp now owns 13,139,719 shares of the real estate investment trust's stock worth $701,792,000 after purchasing an additional 3,834,403 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Realty Income by 3.9% during the first quarter. Dimensional Fund Advisors LP now owns 12,108,561 shares of the real estate investment trust's stock worth $702,381,000 after purchasing an additional 451,307 shares during the last quarter. Finally, Norges Bank acquired a new position in Realty Income in the fourth quarter worth about $624,666,000. 70.81% of the stock is owned by hedge funds and other institutional investors.

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.