Realty Income (NYSE:O) Shares Down 0.6% Following Analyst Downgrade

Shares of Realty Income Co. (NYSE:O - Get Free Report) traded down 0.6% on Thursday after Royal Bank of Canada lowered their price target on the stock from $67.00 to $63.00. Royal Bank of Canada currently has an outperform rating on the stock. Realty Income traded as low as $56.61 and last traded at $56.63. 1,586,074 shares changed hands during trading, a decline of 72% from the average session volume of 5,675,053 shares. The stock had previously closed at $57.00.

A number of other research analysts have also weighed in on the stock. Wedbush started 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 on the stock. Morgan Stanley restated an "equal weight" rating and issued a $62.00 price objective on shares of Realty Income in a report on Tuesday, August 6th. Wells Fargo & Company restated an "equal weight" rating and issued a $65.00 price objective (up previously from $62.00) on shares of Realty Income in a report on Tuesday, October 1st. JPMorgan Chase & Co. upped their price objective on Realty Income from $60.00 to $67.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 3rd. Finally, Scotiabank increased their price objective on shares of Realty Income from $61.00 to $64.00 and gave the company a "sector perform" rating in a research report on Tuesday, September 17th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $63.85.

Insider Buying and Selling

In other news, Director A. Larry Chapman sold 5,000 shares of the firm's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $60.77, for a total value of $303,850.00. Following the completion of the transaction, 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 through the SEC website. In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction 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 sale, the director now owns 5,257 shares in the company, valued at approximately $319,467.89. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary Hogan Preusse sold 1,712 shares of the business's stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total value of $107,136.96. Following the completion of the transaction, the director now directly owns 26,579 shares of the company's stock, valued at approximately $1,663,313.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Realty Income

A number of institutional investors have recently bought and sold shares of O. ZWJ Investment Counsel Inc. increased its position in Realty Income by 0.6% during the 3rd quarter. ZWJ Investment Counsel Inc. now owns 29,279 shares of the real estate investment trust's stock worth $1,857,000 after purchasing an additional 164 shares in the last quarter. Whittier Trust Co. boosted its position in Realty Income by 4.5% in the 3rd quarter. Whittier Trust Co. now owns 3,871 shares of the real estate investment trust's stock valued at $245,000 after buying an additional 166 shares during the last quarter. Greenleaf Trust grew its stake in shares of Realty Income by 1.0% during the third quarter. Greenleaf Trust now owns 16,911 shares of the real estate investment trust's stock valued at $1,072,000 after acquiring an additional 170 shares in the last quarter. Grove Bank & Trust increased its position in shares of Realty Income by 14.3% during the third quarter. Grove Bank & Trust now owns 1,409 shares of the real estate investment trust's stock worth $89,000 after acquiring an additional 176 shares during the last quarter. Finally, Buckley Wealth Management LLC boosted its stake in shares of Realty Income by 1.9% during the 3rd quarter. Buckley Wealth Management LLC now owns 9,450 shares of the real estate investment trust's stock valued at $599,000 after buying an additional 176 shares during the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Realty Income Price Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 1.39 and a quick ratio of 1.39. The business's 50-day moving average price is $62.06 and its two-hundred day moving average price is $57.85. The firm has a market cap of $49.10 billion, a price-to-earnings ratio of 53.91, a P/E/G ratio of 4.12 and a beta of 0.99.

Realty Income (NYSE:O - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.05 by ($0.75). The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.26 billion. Realty Income had a return on equity of 2.38% and a net margin of 17.57%. The company's quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.02 earnings per share. On average, research analysts forecast that Realty Income Co. will post 4.2 EPS for the current fiscal year.

Realty Income Announces Dividend

The firm also recently announced a nov 24 dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.2635 per share. This represents a yield of 5.1%. The ex-dividend date of this dividend is Friday, November 1st. Realty Income's payout ratio is currently 300.96%.

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.