Realty Income (NYSE:O) Price Target Cut to $71.00 by Analysts at UBS Group

Realty Income (NYSE:O) had its target price reduced by UBS Group from $72.00 to $71.00 in a report published on Thursday morning,Benzinga reports. UBS Group currently has a buy rating on the real estate investment trust’s stock.

Several other brokerages have also commented on O. Morgan Stanley reiterated an “equal weight” rating and set a $62.00 price objective on shares of Realty Income in a research report on Tuesday, August 6th. Scotiabank lifted their price target on shares of Realty Income from $61.00 to $64.00 and gave the stock a “sector perform” rating in a research note on Tuesday, September 17th. Wedbush initiated coverage on shares of Realty Income in a report on Monday, August 19th. They issued a “neutral” rating and a $64.00 price objective for the company. Stifel Nicolaus reduced their target price on shares of Realty Income from $70.50 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Mizuho cut shares of Realty Income from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $64.00 to $60.00 in a research report on Thursday. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $63.85.

Realty Income Trading Up 0.8 %

Shares of O opened at $56.54 on Thursday. Realty Income has a 1-year low of $50.65 and a 1-year high of $64.88. The company has a market capitalization of $49.48 billion, a P/E ratio of 53.85, a P/E/G ratio of 3.98 and a beta of 0.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.40. The firm’s 50 day simple moving average is $61.31 and its 200 day simple moving average is $58.01.

Realty Income (NYSE:O) last posted its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.75). Realty Income had a net margin of 17.57% and a return on equity of 2.35%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.26 billion. The business’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.02 EPS. Sell-side analysts forecast that Realty Income will post 4.19 earnings per share for the current fiscal year.

Realty Income Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a $0.2635 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $3.16 annualized dividend and a yield of 5.59%. This is a boost from Realty Income’s previous monthly dividend of $0.24. Realty Income’s dividend payout ratio (DPR) is 300.96%.

Insider Activity

In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of Realty Income 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 of the company’s stock, valued at approximately $1,663,313.82. The trade was a 6.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 5,257 shares of the company’s stock, valued at $319,467.89. This represents a 48.75 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Realty Income

Several institutional investors and hedge funds have recently added to or reduced their stakes in O. Vanguard Group Inc. boosted 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 purchasing an additional 20,848,560 shares in the last quarter. Parnassus Investments LLC raised its stake in Realty Income by 7.4% during the third quarter. Parnassus Investments LLC now owns 24,448,225 shares of the real estate investment trust’s stock valued at $1,550,506,000 after buying an additional 1,676,293 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Realty Income by 1.1% in the third quarter. Geode Capital Management LLC now owns 22,815,454 shares of the real estate investment trust’s stock worth $1,445,036,000 after acquiring an additional 242,786 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Realty Income by 4.5% in 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. Finally, Dimensional Fund Advisors LP grew its stake 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 acquiring an additional 413,865 shares during the last quarter. Hedge funds and other institutional investors 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.