Realty Income (NYSE:O) Trading 1.6% Higher - Here's What Happened

Shares of Realty Income Corporation (NYSE:O - Get Free Report) shot up 1.6% during mid-day trading on Monday . The company traded as high as $58.02 and last traded at $58.11. 982,688 shares were traded during mid-day trading, a decline of 81% from the average session volume of 5,206,320 shares. The stock had previously closed at $57.18.

Analyst Upgrades and Downgrades

O has been the subject of several recent analyst reports. Mizuho upped their price objective on shares of Realty Income from $54.00 to $59.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. UBS Group reduced their price target on Realty Income from $64.00 to $62.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Wedbush reiterated a "neutral" rating and issued a $61.00 price objective on shares of Realty Income in a report on Wednesday, May 7th. Royal Bank Of Canada reduced their target price on Realty Income from $62.00 to $60.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus upped their target price on Realty Income from $65.50 to $68.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $61.15.

Realty Income Stock Up 1.7%

The stock has a market capitalization of $52.51 billion, a PE ratio of 52.85, a P/E/G ratio of 4.00 and a beta of 0.76. The stock's 50-day moving average price is $56.74 and its two-hundred day moving average price is $55.57. 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 announced its earnings results on Monday, May 5th. The real estate investment trust reported $1.06 earnings per share for the quarter, meeting analysts' consensus estimates of $1.06. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.28 billion. Realty Income had a net margin of 18.15% and a return on equity of 2.51%. The business's revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 earnings per share. As a group, analysts expect that Realty Income Corporation will post 4.19 EPS for the current fiscal year.

Realty Income Increases Dividend

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

Institutional Trading of Realty Income

Several large investors have recently modified their holdings of the company. Keystone Global Partners LLC purchased a new stake in Realty Income during the first quarter valued at approximately $26,000. Lee Danner & Bass Inc. bought a new stake in shares of Realty Income during the 4th quarter valued at $28,000. Hopwood Financial Services Inc. purchased a new stake in shares of Realty Income in the 4th quarter worth $29,000. PSI Advisors LLC increased its stake in shares of Realty Income by 78.3% in the 1st quarter. PSI Advisors LLC now owns 574 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 252 shares in the last quarter. Finally, Millstone Evans Group LLC purchased a new position in Realty Income during the fourth quarter valued at $34,000. Institutional investors own 70.81% of the company's stock.

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.

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