Realty Income (NYSE:O) Stock Price Up 0.1% Following Dividend Announcement

Realty Income Co. (NYSE:O - Get Free Report)'s stock price was up 0.1% on Wednesday following a dividend announcement from the company. The stock traded as high as $52.62 and last traded at $52.31. Approximately 2,706,222 shares were traded during trading, a decline of 49% from the average daily volume of 5,256,132 shares. The stock had previously closed at $52.27.

The newly announced dividend which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a dividend of $0.2685 per share. The ex-dividend date of this dividend is Thursday, May 1st. This represents a dividend yield of 6%. Realty Income's dividend payout ratio is 328.57%.

Analyst Ratings Changes

O has been the subject of several research analyst reports. Royal Bank of Canada reduced their price objective on Realty Income from $62.00 to $60.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Barclays raised their price target on shares of Realty Income from $56.00 to $59.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. BNP Paribas lowered shares of Realty Income from an "outperform" rating to a "neutral" rating and set a $61.00 price objective on the stock. in a research note on Tuesday, February 25th. Scotiabank decreased their target price on shares of Realty Income from $59.00 to $57.00 and set a "sector perform" rating for the company in a research note on Friday, February 28th. Finally, Mizuho upped their price target on shares of Realty Income from $54.00 to $59.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Realty Income currently has an average rating of "Hold" and an average target price of $62.42.

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Realty Income Stock Up 1.8 %

The firm has a market capitalization of $49.17 billion, a price-to-earnings ratio of 52.51, a price-to-earnings-growth ratio of 2.10 and a beta of 0.79. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.40 and a current ratio of 1.40. The business's 50 day moving average is $55.87 and its 200-day moving average is $56.70.

Realty Income (NYSE:O - Get Free Report) last issued its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.01). Realty Income had a net margin of 17.57% and a return on equity of 2.35%. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.28 billion. Equities analysts anticipate that Realty Income Co. will post 4.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Realty Income

Hedge funds have recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Realty Income during the 4th quarter worth approximately $624,666,000. Raymond James Financial Inc. acquired a new stake in Realty Income during the fourth quarter worth $553,572,000. Northern Trust Corp increased its holdings in Realty Income by 41.2% in 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 during the period. California Public Employees Retirement System increased its holdings in Realty Income by 26.7% in the 4th quarter. California Public Employees Retirement System now owns 3,849,998 shares of the real estate investment trust's stock valued at $205,628,000 after buying an additional 811,037 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Realty Income by 6,002.1% during the 1st quarter. GAMMA Investing LLC now owns 706,562 shares of the real estate investment trust's stock worth $40,988,000 after acquiring an additional 694,983 shares during the period. 70.81% of the stock is owned by 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.