Realty Income (NYSE:O) Shares Up 0.1% Following Dividend Announcement

Realty Income Co. (NYSE:O) was up 0.1% during trading on Wednesday after the company announced a dividend. The company traded as high as $52.62 and last traded at $52.31. Approximately 2,706,222 shares traded hands during trading, a decline of 49% from the average daily 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 given a $0.2685 dividend. This represents a yield of 6%. The ex-dividend date of this dividend is Thursday, May 1st. Realty Income’s dividend payout ratio (DPR) is 328.57%.

Analysts Set New Price Targets

O has been the topic of a number of recent research reports. BNP Paribas cut shares of Realty Income from an “outperform” rating to a “neutral” rating and set a $61.00 target price on the stock. in a research report on Tuesday, February 25th. Barclays boosted their price objective on shares of Realty Income from $56.00 to $59.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Stifel Nicolaus lowered their target price on Realty Income from $70.00 to $66.50 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Mizuho boosted their price target on Realty Income from $54.00 to $59.00 and gave the stock a “neutral” rating in a research note on Thursday, April 3rd. Finally, Scotiabank reduced their price target on Realty Income from $59.00 to $57.00 and set a “sector perform” rating for the company in a report on Friday, February 28th. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $62.42.

Realty Income Trading Up 0.2 %

The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.68. The company 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 firm has a 50-day moving average price of $55.85 and a 200 day moving average price of $56.76.

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

Hedge Funds Weigh In On Realty Income

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP grew its position in shares of Realty Income by 0.7% during the third quarter. Wellington Management Group LLP now owns 184,524 shares of the real estate investment trust’s stock worth $11,703,000 after acquiring an additional 1,194 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new position in Realty Income in the 3rd quarter worth about $201,000. Zacks Investment Management acquired a new stake in shares of Realty Income in the third quarter valued at approximately $227,000. MML Investors Services LLC raised its holdings in shares of Realty Income by 1.1% during the third quarter. MML Investors Services LLC now owns 104,997 shares of the real estate investment trust’s stock valued at $6,659,000 after buying an additional 1,190 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Realty Income during the third quarter valued at approximately $233,000. 70.81% of the stock is currently owned by institutional investors and hedge funds.

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.