Scotiabank Boosts Realty Income (NYSE:O) Price Target to $64.00

Realty Income (NYSE:O) had its price target raised by equities research analysts at Scotiabank from $61.00 to $64.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target points to a potential upside of 1.57% from the company’s current price.

A number of other brokerages also recently issued reports on O. Royal Bank of Canada increased their price target on shares of Realty Income from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Wedbush assumed coverage on Realty Income in a research note on Monday, August 19th. They issued a “neutral” rating and a $64.00 target price on the stock. Wells Fargo & Company upped their price target on Realty Income from $57.00 to $62.00 and gave the company an “equal weight” rating in a research report on Monday, August 26th. Robert W. Baird upped their price objective on shares of Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Finally, KeyCorp started coverage on Realty Income in a research note on Wednesday, June 12th. They issued a “sector weight” rating for the company. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Realty Income has an average rating of “Hold” and an average price target of $62.59.

Realty Income Stock Performance

O traded up $0.33 during midday trading on Tuesday, reaching $63.01. The company had a trading volume of 882,217 shares, compared to its average volume of 5,828,873. Realty Income has a 12-month low of $45.03 and a 12-month high of $63.39. The business has a 50-day moving average price of $59.68 and a two-hundred day moving average price of $55.45. The stock has a market cap of $54.87 billion, a PE ratio of 58.34, a P/E/G ratio of 4.65 and a beta of 0.99. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.39 and a current ratio of 1.39.

Realty Income (NYSE:O) last issued its quarterly earnings results 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 firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Realty Income had a net margin of 17.89% and a return on equity of 3.27%. The firm’s quarterly revenue was up 31.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.00 EPS. On average, sell-side analysts expect that Realty Income will post 3.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Mary Hogan Preusse sold 1,712 shares of the company’s stock in a transaction on 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 owns 26,579 shares of the company’s stock, valued at approximately $1,663,313.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 transaction of $107,136.96. Following the completion of the transaction, the director now owns 26,579 shares of the company’s stock, valued at approximately $1,663,313.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director A. Larry Chapman sold 5,000 shares of the business’s stock in a transaction dated 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 sale, the director now owns 5,257 shares in the company, valued at $319,467.89. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Realty Income

Institutional investors and hedge funds have recently made changes to their positions in the business. Vima LLC purchased a new position in shares of Realty Income during the fourth quarter worth approximately $25,000. Pacifica Partners Inc. increased its holdings in Realty Income by 444.4% during the 2nd quarter. Pacifica Partners Inc. now owns 490 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 400 shares during the period. Northwest Investment Counselors LLC bought a new stake in Realty Income during the 1st quarter valued at $27,000. Bell Investment Advisors Inc raised 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 valued at $29,000 after acquiring an additional 217 shares in the last quarter. Finally, Able Wealth Management LLC purchased a new stake in shares of Realty Income in the 4th quarter worth approximately $32,000. 70.81% of the stock is owned by hedge funds and other institutional investors.

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.