Realty Income (NYSE:O) Trading Down 2.6%

Realty Income Co. (NYSE:O - Get Free Report)'s stock price dropped 2.6% on Thursday . The company traded as low as $60.42 and last traded at $60.58. Approximately 1,811,768 shares changed hands during trading, a decline of 69% from the average daily volume of 5,815,350 shares. The stock had previously closed at $62.19.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on O shares. KeyCorp started coverage on shares of Realty Income in a report on Wednesday, June 12th. They issued a "sector weight" rating for the company. Scotiabank upped their price objective on shares of Realty Income from $61.00 to $64.00 and gave the company a "sector perform" rating in a report on Tuesday. Wedbush started coverage on shares of Realty Income in a report on Monday, August 19th. They issued a "neutral" rating and a $64.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on shares of Realty Income from $60.00 to $67.00 and gave the company a "neutral" rating in a report on Tuesday, September 3rd. Finally, UBS Group upped their price objective on shares of Realty Income from $61.00 to $68.00 and gave the company a "buy" rating in a report on Thursday, July 18th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $62.59.

Realty Income Trading Down 2.4 %

The company's fifty day moving average is $60.16 and its two-hundred day moving average is $55.60. The stock has a market cap of $52.85 billion, a price-to-earnings ratio of 56.19, a PEG ratio of 4.65 and a beta of 0.99. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.66.

Realty Income (NYSE:O - Get Free Report) last issued its earnings results on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.07). The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.22 billion. Realty Income had a net margin of 17.89% and a return on equity of 3.27%. The firm's revenue was up 31.4% compared to the same quarter last year. During the same period last year, the business earned $1.00 EPS. On average, research analysts predict that Realty Income Co. will post 3.93 EPS for the current fiscal year.

Realty Income Increases Dividend

The business also recently declared a oct 24 dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a $0.2635 dividend. This is a positive change from Realty Income's previous oct 24 dividend of $0.26. This represents a yield of 5%. The ex-dividend date of this dividend is Tuesday, October 1st. Realty Income's dividend payout ratio is currently 292.59%.

Insider Buying and Selling at Realty Income

In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $60.77, for a total value of $303,850.00. Following the transaction, the director now directly owns 5,257 shares in the company, valued at $319,467.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Mary Hogan Preusse sold 1,712 shares of the firm's stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total transaction of $107,136.96. Following the transaction, the director now directly owns 26,579 shares in the company, valued at $1,663,313.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director A. Larry Chapman sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $60.77, for a total transaction of $303,850.00. Following the transaction, 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

A number of hedge funds and other institutional investors have recently bought and sold shares of O. Vanguard Group Inc. grew its position in Realty Income by 18.3% in the 1st quarter. Vanguard Group Inc. now owns 134,768,614 shares of the real estate investment trust's stock valued at $7,290,982,000 after buying an additional 20,848,560 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its holdings in Realty Income by 213.3% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,171,853 shares of the real estate investment trust's stock valued at $124,708,000 after acquiring an additional 1,478,577 shares during the period. Raymond James & Associates lifted its holdings in Realty Income by 76.6% in the second quarter. Raymond James & Associates now owns 3,366,982 shares of the real estate investment trust's stock valued at $177,844,000 after acquiring an additional 1,460,884 shares during the period. GRS Advisors LLC acquired a new stake in Realty Income in the fourth quarter valued at $58,843,000. Finally, Canada Pension Plan Investment Board lifted its holdings in Realty Income by 63.2% in the second quarter. Canada Pension Plan Investment Board now owns 2,610,483 shares of the real estate investment trust's stock valued at $137,886,000 after acquiring an additional 1,010,876 shares during the period. 70.81% of the stock is currently 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.