Realty Income (NYSE:O) Sets New 52-Week High – What’s Next?

Realty Income Co. (NYSE:O)’s share price hit a new 52-week high on Wednesday . The company traded as high as $63.92 and last traded at $63.89, with a volume of 261245 shares trading hands. The stock had previously closed at $63.36.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on O. Wells Fargo & Company restated an “equal weight” rating and issued a $65.00 target price (up previously from $62.00) on shares of Realty Income in a research report on Tuesday, October 1st. UBS Group raised their target price on shares of Realty Income from $61.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Stifel Nicolaus raised their target price on shares of Realty Income from $67.50 to $70.25 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Royal Bank of Canada raised their target price on shares of Realty Income from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $62.00 target price on shares of Realty Income in a research report on Tuesday, August 6th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $63.63.

Realty Income Price Performance

The business’s 50 day moving average is $61.79 and its two-hundred day moving average is $56.87. The firm has a market cap of $55.46 billion, a P/E ratio of 58.68, a P/E/G ratio of 4.30 and a beta of 0.99. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.66.

Realty Income (NYSE:O) last announced its earnings results on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). Realty Income had a return on equity of 2.36% and a net margin of 17.89%. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the business earned $1.00 EPS. Realty Income’s quarterly revenue was up 31.4% on a year-over-year basis. As a group, analysts anticipate that Realty Income Co. will post 4.2 earnings per share for the current year.

Realty Income Dividend Announcement

The company also recently announced a nov 24 dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a dividend of $0.2635 per share. This represents a yield of 5.1%. The ex-dividend date is Friday, November 1st. Realty Income’s dividend payout ratio is presently 292.59%.

Insider Buying and Selling

In other news, Director A. Larry Chapman sold 5,000 shares of Realty Income stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $60.77, for a total transaction of $303,850.00. Following the completion of the transaction, the director now directly owns 5,257 shares in the company, valued at $319,467.89. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director A. Larry Chapman sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $60.77, for a total value of $303,850.00. Following the sale, the director now owns 5,257 shares of the company’s stock, valued at $319,467.89. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mary Hogan Preusse sold 1,712 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total transaction of $107,136.96. Following the sale, the director now directly owns 26,579 shares in the company, valued at $1,663,313.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Realty Income

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Realty Income by 18.3% during the 1st quarter. Vanguard Group Inc. now owns 134,768,614 shares of the real estate investment trust’s stock valued at $7,290,982,000 after buying an additional 20,848,560 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Realty Income by 4.5% during the 2nd quarter. Legal & General Group Plc now owns 12,258,468 shares of the real estate investment trust’s stock valued at $647,492,000 after acquiring an additional 531,008 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Realty Income by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 11,682,105 shares of the real estate investment trust’s stock worth $617,043,000 after buying an additional 413,865 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Realty Income by 2.2% in the first quarter. Daiwa Securities Group Inc. now owns 9,214,683 shares of the real estate investment trust’s stock worth $498,514,000 after buying an additional 196,635 shares during the last quarter. Finally, APG Asset Management US Inc. boosted its holdings in shares of Realty Income by 3.1% in the second quarter. APG Asset Management US Inc. now owns 8,680,325 shares of the real estate investment trust’s stock worth $454,502,000 after buying an additional 265,000 shares during the last quarter. Hedge funds and other 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.