Realty Income (NYSE:O) Trading Up 1% Following Dividend Announcement

Key Points

• Realty Income's stock rose 1% after announcing a dividend of $0.2695 per share, set to be paid on November 14th, with an annualized yield of 5.4% and an ex-dividend date of October 31st.
• Analysts show a mix of optimism and caution, with Barclays raising its price target to $59 and Mizuho to $63, while some downgraded their ratings, leading to an average consensus rating of "Hold" with a target price of $62.25.
• Institutional investors have increased their stakes in Realty Income, with notable increases observed from several funds, indicating ongoing interest from larger investment groups.

Shares of Realty Income Corporation (NYSE:O - Get Free Report) were up 1% on Wednesday following a dividend announcement from the company. The stock traded as high as $59.55 and last traded at $59.44. Approximately 5,069,958 shares traded hands during mid-day trading, a decline of 8% from the average daily volume of 5,501,127 shares. The stock had previously closed at $58.84.The newly announced dividend which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be issued a dividend of $0.2695 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend is Friday, October 31st. Realty Income's dividend payout ratio (DPR) is presently 313.59%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Barclays raised their price objective on shares of Realty Income from $58.00 to $59.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 20th. Wolfe Research downgraded shares of Realty Income from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Mizuho raised their price objective on shares of Realty Income from $60.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, September 11th. Cantor Fitzgerald began coverage on shares of Realty Income in a report on Wednesday, October 1st. They set a "neutral" rating and a $64.00 price objective for the company. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Realty Income in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $62.25.

Realty Income Trading Up 1.0%

The company's fifty day simple moving average is $59.02 and its two-hundred day simple moving average is $57.51. The company has a market capitalization of $54.35 billion, a price-to-earnings ratio of 57.71, a price-to-earnings-growth ratio of 4.49 and a beta of 0.78. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.72.

Realty Income (NYSE:O - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $1.05 earnings per share for the quarter, missing analysts' consensus estimates of $1.06 by ($0.01). The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. Realty Income had a net margin of 16.77% and a return on equity of 2.34%. The business's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.07 EPS. Research analysts forecast that Realty Income Corporation will post 4.19 earnings per share for the current fiscal year.

Insider Transactions at Realty Income

In other news, Director Mary Hogan Preusse sold 11,000 shares of the stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $60.43, for a total value of $664,730.00. Following the transaction, the director directly owned 19,211 shares of the company's stock, valued at $1,160,920.73. This represents a 36.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.10% of the company's stock.

Hedge Funds Weigh In On Realty Income

Institutional investors and hedge funds have recently modified their holdings of the business. Norinchukin Bank The grew its stake in Realty Income by 9.7% during the first quarter. Norinchukin Bank The now owns 84,968 shares of the real estate investment trust's stock worth $4,929,000 after buying an additional 7,497 shares in the last quarter. Trust Co. of Vermont grew its stake in Realty Income by 2.7% during the second quarter. Trust Co. of Vermont now owns 262,700 shares of the real estate investment trust's stock worth $15,134,000 after buying an additional 6,885 shares in the last quarter. Victory Capital Management Inc. grew its stake in Realty Income by 5.3% during the first quarter. Victory Capital Management Inc. now owns 396,798 shares of the real estate investment trust's stock worth $23,018,000 after buying an additional 19,965 shares in the last quarter. Community Bank of Raymore grew its stake in Realty Income by 19.7% during the first quarter. Community Bank of Raymore now owns 148,864 shares of the real estate investment trust's stock worth $8,636,000 after buying an additional 24,467 shares in the last quarter. Finally, Venture Visionary Partners LLC grew its stake in Realty Income by 6.2% during the first quarter. Venture Visionary Partners LLC now owns 142,496 shares of the real estate investment trust's stock worth $8,266,000 after buying an additional 8,297 shares in the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.

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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