Realty Income (NYSE:O) Trading 1.7% Higher After Dividend Announcement

Realty Income Corporation (NYSE:O) shares shot up 1.7% during mid-day trading on Wednesday after the company announced a dividend. The company traded as high as $60.32 and last traded at $60.2650. 6,733,459 shares traded hands during trading, an increase of 5% from the average session volume of 6,422,923 shares. The stock had previously closed at $59.23.

The newly announced dividend which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be given a dividend of $0.27 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date is Friday, January 30th. Realty Income’s dividend payout ratio (DPR) is presently 300.00%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on O shares. Evercore ISI began coverage on Realty Income in a report on Wednesday, October 1st. They issued an “in-line” rating and a $62.00 price target on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Realty Income in a research report on Monday, December 29th. Mizuho lowered their price target on shares of Realty Income from $63.00 to $60.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. Royal Bank Of Canada raised their price objective on shares of Realty Income from $60.00 to $61.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Finally, Wells Fargo & Company upped their target price on Realty Income from $59.00 to $60.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 25th. Three equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $62.23.

Realty Income Price Performance

The company’s 50 day simple moving average is $57.17 and its 200 day simple moving average is $58.06. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $55.44 billion, a PE ratio of 55.80, a PEG ratio of 3.78 and a beta of 0.80.

Realty Income (NYSE:O) last issued its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.01. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.35 billion. Realty Income had a return on equity of 2.45% and a net margin of 17.17%.The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.05 EPS. Realty Income has set its FY 2025 guidance at 4.250-4.270 EPS. On average, equities analysts anticipate that Realty Income Corporation will post 4.19 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Compagnie Lombard Odier SCmA acquired a new stake in shares of Realty Income in the second quarter worth approximately $25,000. Stance Capital LLC purchased a new position in Realty Income during the third quarter worth approximately $27,000. Heartwood Wealth Advisors LLC acquired a new position in shares of Realty Income in the 3rd quarter valued at $29,000. Strengthening Families & Communities LLC grew its stake in shares of Realty Income by 586.1% during the 3rd quarter. Strengthening Families & Communities LLC now owns 494 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 422 shares during the period. Finally, Avion Wealth grew its stake in shares of Realty Income by 142.4% during the 2nd quarter. Avion Wealth now owns 526 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 309 shares during the period. Institutional investors and hedge funds own 70.81% of the company’s stock.

Realty Income Company Profile

Realty Income Corporation (NYSE: O) is a real estate investment trust (REIT) that acquires, owns and manages commercial properties subject primarily to long-term net lease agreements. The company’s business model focuses on generating predictable, contractual rental income by leasing properties to tenants under agreements that typically place responsibility for taxes, insurance and maintenance on the tenant. Realty Income is publicly traded on the New York Stock Exchange and markets itself as a reliable income-oriented REIT.

Realty Income’s portfolio is concentrated in single-tenant, retail and service-oriented properties such as drugstores, convenience stores, dollar and discount retailers, restaurants, and other essential-service businesses.