Realty Income (NYSE:O) Receives “Equal Weight” Rating from Wells Fargo & Company

by · The Markets Daily

Wells Fargo & Company restated their equal weight rating on shares of Realty Income (NYSE:O – Free Report) in a report published on Tuesday, Benzinga reports. They currently have a $65.00 price target on the real estate investment trust’s stock, up from their previous price target of $62.00.

Several other research firms have also recently weighed in on O. Wedbush initiated coverage on shares of Realty Income in a research report on Monday, August 19th. They set a neutral rating and a $64.00 price objective for the company. Royal Bank of Canada lifted their price objective on Realty Income from $58.00 to $64.00 and gave the stock an outperform rating in a research report on Wednesday, August 7th. Morgan Stanley restated an equal weight rating and set a $62.00 target price on shares of Realty Income in a research report on Tuesday, August 6th. Robert W. Baird boosted their price target on Realty Income from $57.00 to $58.00 and gave the company a neutral rating in a research note on Tuesday, August 6th. Finally, Scotiabank raised their price objective on Realty Income from $61.00 to $64.00 and gave the company a sector perform rating in a research note on Tuesday, September 17th. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $62.80.

Get Our Latest Research Report on O

Realty Income Stock Down 0.6 %

Shares of NYSE:O opened at $62.01 on Tuesday. The firm has a market cap of $54.00 billion, a P/E ratio of 57.42, a P/E/G ratio of 4.34 and a beta of 0.99. Realty Income has a 12-month low of $45.03 and a 12-month high of $63.60. The business has a fifty day simple moving average of $61.34 and a 200 day simple moving average of $56.38. 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 – Get Free Report) last posted its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.22 billion. Realty Income had a return on equity of 3.27% and a net margin of 17.89%. Realty Income’s revenue was up 31.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.00 earnings per share. Analysts predict that Realty Income will post 4.2 earnings per share for the current year.

Realty Income Increases Dividend

The business also recently announced a oct 24 dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a $0.2635 dividend. This is an increase from Realty Income’s previous oct 24 dividend of $0.26. This represents a yield of 5%. The ex-dividend date of this dividend is Tuesday, October 1st. Realty Income’s dividend payout ratio (DPR) is currently 292.59%.

Insiders Place Their Bets

In other news, Director Mary Hogan Preusse sold 1,712 shares of the 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 transaction, the director now directly owns 26,579 shares in the company, valued at approximately $1,663,313.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Mary Hogan Preusse sold 1,712 shares of the business’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 transaction, the director now owns 26,579 shares in the company, valued at $1,663,313.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 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 disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Realty Income

Institutional investors have recently bought and sold shares of the stock. Vima LLC bought a new stake in Realty Income during the fourth quarter worth about $25,000. Pacifica Partners Inc. grew its holdings in shares of Realty Income by 444.4% in the second quarter. Pacifica Partners Inc. now owns 490 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 400 shares during the period. Northwest Investment Counselors LLC bought a new stake in shares of Realty Income in the first quarter worth $27,000. Bell Investment Advisors Inc grew its holdings in shares of Realty Income by 69.6% in the first quarter. Bell Investment Advisors Inc now owns 529 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 217 shares during the period. Finally, Able Wealth Management LLC bought a new stake in shares of Realty Income in the fourth quarter worth $32,000. 70.81% of the stock is owned by institutional investors.

About Realty Income

(Get Free Report)

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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