Realty Income (NYSE:O) Stock Price Down 0.7% - Here's Why

Realty Income Co. (NYSE:O - Get Free Report)'s stock price traded down 0.7% during mid-day trading on Thursday . The stock traded as low as $59.79 and last traded at $60.06. 1,150,215 shares were traded during mid-day trading, a decline of 80% from the average session volume of 5,639,642 shares. The stock had previously closed at $60.48.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. UBS Group raised their target price on shares of Realty Income from $70.00 to $72.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Robert W. Baird raised their target price on shares of Realty Income from $57.00 to $58.00 and gave the company a "neutral" rating in a research note on Tuesday, August 6th. Scotiabank raised their target price on shares of Realty Income from $61.00 to $64.00 and gave the company a "sector perform" rating in a research note on Tuesday, September 17th. Royal Bank of Canada raised their target price on shares of Realty Income from $58.00 to $64.00 and gave the company an "outperform" rating in a research note on Wednesday, August 7th. Finally, Wedbush assumed coverage on shares of Realty Income in a research note on Monday, August 19th. They issued a "neutral" rating and a $64.00 target price for the company. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $63.94.

Realty Income Stock Performance

The company's fifty day simple moving average is $62.32 and its two-hundred day simple moving average is $57.62. The stock has a market capitalization of $51.69 billion, a P/E ratio of 54.96, a PEG ratio of 4.27 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 - Get Free Report) last announced its earnings results on Monday, August 5th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.07). Realty Income had a return on equity of 2.36% and a net margin of 17.89%. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the business posted $1.00 earnings per share. The firm's revenue for the quarter was up 31.4% compared to the same quarter last year. As a group, equities analysts forecast that Realty Income Co. will post 4.2 EPS for the current year.

Realty Income Dividend Announcement

The company also recently declared a nov 24 dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a dividend of $0.2635 per share. The ex-dividend date is Friday, November 1st. This represents a dividend yield of 5.1%. Realty Income's dividend payout ratio is 292.59%.

Insider Buying and Selling

In related news, Director Mary Hogan Preusse sold 1,712 shares of the 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 sale, the director now owns 26,579 shares in the company, valued at approximately $1,663,313.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the firm's 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 sale, the director now owns 5,257 shares in the company, valued at $319,467.89. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 completion of the sale, the director now owns 26,579 shares in the company, valued at $1,663,313.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Institutional Trading of Realty Income

Several institutional investors have recently modified their holdings of the business. SeaCrest Wealth Management LLC boosted its position in Realty Income by 6.4% during the first quarter. SeaCrest Wealth Management LLC now owns 5,102 shares of the real estate investment trust's stock valued at $276,000 after acquiring an additional 306 shares during the last quarter. Norden Group LLC acquired a new position in shares of Realty Income during the first quarter valued at about $5,714,000. Kovack Advisors Inc. raised its holdings in shares of Realty Income by 85.0% during the first quarter. Kovack Advisors Inc. now owns 28,256 shares of the real estate investment trust's stock valued at $1,529,000 after purchasing an additional 12,985 shares during the period. First Trust Direct Indexing L.P. raised its holdings in shares of Realty Income by 16.6% during the first quarter. First Trust Direct Indexing L.P. now owns 24,277 shares of the real estate investment trust's stock valued at $1,313,000 after purchasing an additional 3,451 shares during the period. Finally, Teamwork Financial Advisors LLC acquired a new position in shares of Realty Income during the first quarter valued at about $225,000. 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.