Realty Income (NYSE:O) Trading 1.7% Higher - Here's What Happened

Realty Income Corporation (NYSE:O - Get Free Report) shares traded up 1.7% during mid-day trading on Monday . The company traded as high as $58.29 and last traded at $58.12. 3,662,601 shares were traded during trading, a decline of 30% from the average session volume of 5,250,447 shares. The stock had previously closed at $57.16.

Analysts Set New Price Targets

O has been the subject of a number of research analyst reports. Barclays restated an "overweight" rating on shares of Realty Income in a research note on Tuesday, April 22nd. Mizuho lifted their price target on shares of Realty Income from $54.00 to $59.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. UBS Group dropped their price target on shares of Realty Income from $64.00 to $62.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Wedbush reaffirmed a "neutral" rating and issued a $61.00 price objective on shares of Realty Income in a report on Wednesday, May 7th. Finally, Stifel Nicolaus lifted their price objective on shares of Realty Income from $65.50 to $68.00 and gave the stock 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. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $61.15.

Realty Income Stock Up 2.8%

The company has a debt-to-equity ratio of 0.69, a current ratio of 1.74 and a quick ratio of 1.74. The firm has a 50 day simple moving average of $56.74 and a 200-day simple moving average of $55.92. The stock has a market capitalization of $53.08 billion, a price-to-earnings ratio of 53.41, a price-to-earnings-growth ratio of 4.00 and a beta of 0.75.

Realty Income (NYSE:O - Get Free Report) last announced its earnings results on Monday, May 5th. The real estate investment trust reported $1.06 EPS for the quarter, hitting the consensus estimate of $1.06. The company had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.28 billion. Realty Income had a return on equity of 2.51% and a net margin of 18.15%. The business's revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.03 earnings per share. On average, sell-side analysts forecast that Realty Income Corporation will post 4.19 EPS for the current fiscal year.

Realty Income Dividend Announcement

The business also recently announced a aug 25 dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be issued a dividend of $0.269 per share. This represents a yield of 5.7%. The ex-dividend date is Friday, August 1st. Realty Income's dividend payout ratio (DPR) is currently 293.64%.

Institutional Investors Weigh In On Realty Income

Hedge funds have recently modified their holdings of the business. Employees Retirement System of Texas raised its position in Realty Income by 19.0% in the 4th quarter. Employees Retirement System of Texas now owns 488,183 shares of the real estate investment trust's stock valued at $26,074,000 after buying an additional 78,000 shares during the last quarter. Sterling Capital Management LLC raised its position in Realty Income by 21.2% in the 4th quarter. Sterling Capital Management LLC now owns 111,557 shares of the real estate investment trust's stock valued at $5,958,000 after buying an additional 19,527 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Realty Income in the 1st quarter valued at approximately $1,470,000. Renaissance Technologies LLC raised its position in Realty Income by 21.6% in the 4th quarter. Renaissance Technologies LLC now owns 715,344 shares of the real estate investment trust's stock valued at $38,207,000 after buying an additional 127,300 shares during the last quarter. Finally, Capital Investment Advisors LLC raised its position in Realty Income by 1,965.5% in the 1st quarter. Capital Investment Advisors LLC now owns 163,379 shares of the real estate investment trust's stock valued at $9,478,000 after buying an additional 155,469 shares during the last quarter. Institutional investors and hedge funds own 70.81% of the company's stock.

Realty Income Company Profile

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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