Realty Income (NYSE:O) Stock Price Down 4% on Analyst Downgrade

Realty Income Co. (NYSE:O)’s stock price dropped 4% during mid-day trading on Wednesday after Stifel Nicolaus lowered their price target on the stock from $70.50 to $70.00. Stifel Nicolaus currently has a buy rating on the stock. Realty Income traded as low as $56.45 and last traded at $56.47. Approximately 3,383,483 shares traded hands during trading, a decline of 40% from the average daily volume of 5,656,701 shares. The stock had previously closed at $58.82.

A number of other brokerages also recently issued reports on O. Morgan Stanley reaffirmed an “equal weight” rating and issued a $62.00 price target on shares of Realty Income in a report on Tuesday, August 6th. UBS Group increased their target price on shares of Realty Income from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada boosted their price target 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. JPMorgan Chase & Co. raised their price objective on Realty Income from $60.00 to $67.00 and gave the stock a “neutral” rating in a report on Tuesday, September 3rd. Finally, Wedbush initiated coverage on Realty Income in a report on Monday, August 19th. They issued a “neutral” rating and a $64.00 target price for the company. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $63.92.

Insider Buying and Selling

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

Institutional Trading of Realty Income

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Realty Income by 18.3% in the 1st quarter. Vanguard Group Inc. now owns 134,768,614 shares of the real estate investment trust’s stock worth $7,290,982,000 after buying an additional 20,848,560 shares during the period. Legal & General Group Plc increased its stake in Realty Income by 4.5% during the second quarter. Legal & General Group Plc now owns 12,258,468 shares of the real estate investment trust’s stock worth $647,492,000 after acquiring an additional 531,008 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Realty Income by 3.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,682,105 shares of the real estate investment trust’s stock worth $617,043,000 after purchasing an additional 413,865 shares during the period. APG Asset Management US Inc. lifted its stake in shares of Realty Income by 3.1% in the 2nd quarter. APG Asset Management US Inc. now owns 8,680,325 shares of the real estate investment trust’s stock valued at $454,502,000 after purchasing an additional 265,000 shares in the last quarter. Finally, Centersquare Investment Management LLC grew its holdings in shares of Realty Income by 14.9% during the 1st quarter. Centersquare Investment Management LLC now owns 6,824,420 shares of the real estate investment trust’s stock worth $365,379,000 after purchasing an additional 885,852 shares during the period. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Realty Income Stock Performance

The stock’s 50-day moving average is $62.16 and its 200-day moving average is $57.86. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.66. The stock has a market cap of $49.18 billion, a price-to-earnings ratio of 52.29, a P/E/G ratio of 4.09 and a beta of 0.99.

Realty Income (NYSE:O) last announced its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.75). The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.26 billion. Realty Income had a net margin of 17.89% and a return on equity of 2.36%. The firm’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.02 earnings per share. On average, analysts expect that Realty Income Co. will post 4.2 EPS for the current year.

Realty Income Dividend Announcement

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

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.