The stock of Realty Income Corporation (NYSE:O) last traded at $62.62, up 1.44% from the previous session.
Data from the available sources indicates that Realty Income Corporation (NYSE:O) is covered by 17 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $74.00 and a low of $65.00, we find $70.00. Given the previous closing price of $61.73, this indicates a potential upside of 13.4 percent. O stock price is now 3.63% away from the 50-day moving average and 0.21% away from the 200-day moving average. The market capitalization of the company currently stands at $42.25B.
In total, 9 analysts have assigned it a hold rating, and 7 have given it a buy rating. Brokers who have rated the stock have averaged $69.71 as their price target over the next twelve months.
With the price target maintained at $69, Scotiabank recently Upgraded its rating from Sector Perform to Sector Outperform for Realty Income Corporation (NYSE: O).
In other news, Abraham Neil, insider sold 26,600 shares of the company’s stock on Feb 27. The stock was sold for $1,738,118 at an average price of $65.34. Upon completion of the transaction, the insider now directly owns 41,630 shares in the company, valued at $2.61 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 01, Director Chapman A. Larry sold 7,000 shares of the business’s stock. A total of $475,790 was realized by selling the stock at an average price of $67.97. This leaves the insider owning 10,090 shares of the company worth $0.63 million. Insiders disposed of 119,726 shares of company stock worth roughly $7.5 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in O stock. A new stake in Realty Income Corporation shares was purchased by WATERFRONT CAPITAL PARTNERS, LLC during the first quarter worth $60,537,000. NAN SHAN LIFE INSURANCE CO., LTD. invested $46,262,000 in shares of O during the first quarter. In the first quarter, TUDOR INVESTMENT CORP ET AL acquired a new stake in Realty Income Corporation valued at approximately $12,720,000. NATIXIS acquired a new stake in O for approximately $11,313,000. ALLSTATE INVESTMENT MANAGEMENT CO purchased a new stake in O valued at around $10,221,000 in the second quarter. In total, there are 1,464 active investors with 83.00% ownership of the company’s stock.
During the past 12 months, Realty Income Corporation has had a low of $55.50 and a high of $75.11. According to the stock market information, the enterprise value for the company is $61.36B, which is based on a 43.94 price-to-earnings ratio, a 1.94 price-to-earnings-growth ratio, and a beta of 0.78. The fifty day moving average price for O is $60.43 and a two-hundred day moving average price translates $62.51 for the stock.
The latest earnings results from Realty Income Corporation (NYSE: O) was released for Mar, 2023. According to the REIT – Retail Company, earnings per share came in at $0.34, inline with analysts’ expectations of $0.34. This compares to $0.34 EPS in the same period last year. The net profit margin was 25.70% and return on equity was 3.20% for O. The company reported revenue of $944.4 million for the quarter, compared to $807.34 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 16.98 percent. For the current quarter, analysts expect O to generate $947.73M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/15/2023. Investors who held shares on 08/01/2023 were paid a $0.2555 dividend. On an annualized basis, this represents a $3.07 dividend and a 4.90% percent yield. There was an ex-dividend date of 07/31/2023 for this dividend. In terms of dividend payout ratio, O is presently at 208.90%.
Realty Income Corporation(O) 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 12,400 real estate properties primarily owned under long-term net lease agreements with commercial clients. To date, the company has declared 634 consecutive monthly dividends on its shares of common stock throughout its 54-year operating history and increased the dividend 120 times since Realty Income’s public listing in 1994 (NYSE: O).
