Realty Income (NYSE:O) Price Target Raised to $58.00 at Scotiabank

Realty Income (NYSE:O) had its target price increased by Scotiabank from $57.00 to $58.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price would indicate a potential upside of 5.34% from the company’s previous close.

Several other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Realty Income from $64.00 to $61.00 and set a “neutral” rating for the company in a research report on Monday, May 5th. Stifel Nicolaus increased their price target on Realty Income from $65.50 to $68.00 and gave the company a “buy” rating in a research note on Tuesday, May 6th. Wedbush reissued a “neutral” rating and issued a $61.00 price target on shares of Realty Income in a research note on Wednesday, May 7th. Mizuho increased their price objective on shares of Realty Income from $54.00 to $59.00 and gave the stock a “neutral” rating in a research report on Thursday, April 3rd. Finally, Barclays reiterated an “overweight” rating on shares of Realty Income in a research report on Tuesday, April 22nd. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $61.15.

Realty Income Price Performance

O stock opened at $55.06 on Monday. The company has a 50 day simple moving average of $56.45 and a 200 day simple moving average of $55.84. The stock has a market cap of $49.72 billion, a price-to-earnings ratio of 52.44, a P/E/G ratio of 2.10 and a beta of 0.78. Realty Income has a 1 year low of $50.71 and a 1 year high of $64.88. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.40.

Realty Income (NYSE:O) last released its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.06. Realty Income had a net margin of 17.57% and a return on equity of 2.35%. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the company earned $1.03 EPS. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. Research analysts anticipate that Realty Income will post 4.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Realty Income by 2.4% in the first quarter. Vanguard Group Inc. now owns 142,511,359 shares of the real estate investment trust’s stock worth $8,267,084,000 after purchasing an additional 3,274,853 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Realty Income by 2.9% during the 4th 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 buying an additional 658,240 shares during the last quarter. Northern Trust Corp lifted its stake 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 buying an additional 3,834,403 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Realty Income by 3.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,108,561 shares of the real estate investment trust’s stock valued at $702,381,000 after buying an additional 451,307 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Realty Income during the 4th quarter valued at approximately $624,666,000. Hedge funds and other 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.