Realty Income (NYSE:O) Trading 0.1% Higher After Dividend Announcement

Shares of Realty Income Co. (NYSE:O) shot up 0.1% during mid-day trading on Wednesday following a dividend announcement from the company. The company traded as high as $52.62 and last traded at $52.31. 2,706,222 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 5,256,132 shares. The stock had previously closed at $52.27.

The newly announced dividend which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be paid a $0.2685 dividend. The ex-dividend date is Thursday, May 1st. This represents a dividend yield of 6%. Realty Income’s dividend payout ratio (DPR) is currently 328.57%.

Analyst Upgrades and Downgrades

O has been the topic of several analyst reports. Royal Bank of Canada lowered their target price on shares of Realty Income from $62.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Barclays lifted their price objective on Realty Income from $56.00 to $59.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. BNP Paribas downgraded Realty Income from an “outperform” rating to a “neutral” rating and set a $61.00 target price for the company. in a research note on Tuesday, February 25th. Stifel Nicolaus decreased their price target on Realty Income from $70.00 to $66.50 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, Mizuho increased their price objective on Realty Income from $54.00 to $59.00 and gave the stock a “neutral” rating in a research report on Thursday, April 3rd. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Realty Income presently has a consensus rating of “Hold” and a consensus target price of $62.42.

Realty Income Stock Performance

The stock has a market cap of $48.24 billion, a price-to-earnings ratio of 51.51, a price-to-earnings-growth ratio of 2.10 and a beta of 0.79. 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 stock’s 50-day moving average is $55.85 and its 200-day moving average is $56.76.

Realty Income (NYSE:O) last released its earnings results on Monday, February 24th. The real estate investment trust reported $1.05 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.01). Realty Income had a net margin of 17.57% and a return on equity of 2.35%. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.28 billion. Analysts anticipate that Realty Income Co. will post 4.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Realty Income in the fourth quarter valued at approximately $624,666,000. Raymond James Financial Inc. purchased a new position in shares of Realty Income in the 4th quarter valued at $553,572,000. Northern Trust Corp lifted its holdings in shares of 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 valued at $701,792,000 after acquiring an additional 3,834,403 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of Realty Income by 26.7% during the 4th quarter. California Public Employees Retirement System now owns 3,849,998 shares of the real estate investment trust’s stock valued at $205,628,000 after acquiring an additional 811,037 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Realty Income by 6,002.1% during the 1st quarter. GAMMA Investing LLC now owns 706,562 shares of the real estate investment trust’s stock worth $40,988,000 after purchasing an additional 694,983 shares during the period. Institutional investors and hedge funds 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.