Realty Income (NYSE:O) Given New $60.00 Price Target at Royal Bank of Canada

Realty Income (NYSE:O) had its price target decreased by research analysts at Royal Bank of Canada from $62.00 to $60.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 6.03% from the company’s previous close.

Several other equities research analysts also recently commented on O. Mizuho decreased their target price on shares of Realty Income from $60.00 to $54.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. UBS Group cut their target price on Realty Income from $72.00 to $71.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft assumed coverage on Realty Income in a research report on Wednesday, December 11th. They issued a “hold” rating and a $62.00 price target for the company. Stifel Nicolaus lowered their target price on shares of Realty Income from $70.00 to $66.50 and set a “buy” rating for the company in a report on Wednesday, January 8th. Finally, Scotiabank cut their price target on shares of Realty Income from $61.00 to $59.00 and set a “sector perform” rating on the stock in a report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $61.96.

Realty Income Stock Performance

NYSE:O opened at $56.59 on Wednesday. The firm has a market capitalization of $49.52 billion, a P/E ratio of 53.89, a P/E/G ratio of 2.10 and a beta of 1.00. Realty Income has a twelve month low of $50.65 and a twelve month high of $64.88. The company has a fifty day moving average of $54.16 and a 200-day moving average of $57.97. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.68.

Realty Income (NYSE:O) last posted its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.01). Realty Income had a return on equity of 2.35% and a net margin of 17.57%. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.28 billion. As a group, sell-side analysts anticipate that Realty Income will post 4.19 EPS for the current year.

Institutional Trading of Realty Income

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Realty Income by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 139,236,506 shares of the real estate investment trust’s stock valued at $7,436,622,000 after buying an additional 555,908 shares in the last quarter. Parnassus Investments LLC boosted its position in shares of Realty Income by 7.4% in 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 acquiring an additional 1,676,293 shares during the period. Geode Capital Management LLC grew its stake in Realty Income by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 23,473,694 shares of the real estate investment trust’s stock valued at $1,253,584,000 after acquiring an additional 658,240 shares in the last quarter. Northern Trust Corp increased its holdings in Realty Income by 41.2% during the 4th quarter. Northern Trust Corp now owns 13,139,719 shares of the real estate investment trust’s stock worth $701,792,000 after acquiring an additional 3,834,403 shares during the period. Finally, Norges Bank purchased a new stake in Realty Income in the 4th quarter worth approximately $624,666,000. 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.