Realty Income (NYSE:O) Trading Up 1.4% After Dividend Announcement

Realty Income Co. (NYSE:O) traded up 1.4% during mid-day trading on Monday following a dividend announcement from the company. The company traded as high as $58.42 and last traded at $58.31. 1,066,860 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 5,679,688 shares. The stock had previously closed at $57.51.

The newly announced dividend which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be given a $0.2635 dividend. This is a boost from Realty Income’s previous monthly dividend of $0.24. The ex-dividend date is Monday, December 2nd. This represents a $3.16 annualized dividend and a yield of 5.56%. Realty Income’s dividend payout ratio (DPR) is presently 300.96%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Royal Bank of Canada lowered their price objective on Realty Income from $67.00 to $63.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Wells Fargo & Company reissued an “equal weight” rating and issued a $65.00 price target (up from $62.00) on shares of Realty Income in a research report on Tuesday, October 1st. Morgan Stanley reaffirmed an “equal weight” rating and set a $62.00 price objective on shares of Realty Income in a report on Tuesday, August 6th. JPMorgan Chase & Co. increased their target price 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, Scotiabank raised their price target 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 equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Realty Income presently has a consensus rating of “Hold” and a consensus target price of $63.85.

Realty Income Stock Performance

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 company’s 50 day moving average price is $61.67 and its 200-day moving average price is $57.98. The company has a market cap of $49.81 billion, a PE ratio of 54.51, a price-to-earnings-growth ratio of 4.01 and a beta of 0.99.

Realty Income (NYSE:O) last issued its earnings results on Monday, November 4th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.75). The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.26 billion. Realty Income had a net margin of 17.57% and a return on equity of 2.35%. The business’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.02 earnings per share. Equities research analysts anticipate that Realty Income Co. will post 4.19 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake 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 worth $7,290,982,000 after buying an additional 20,848,560 shares in the last quarter. Parnassus Investments LLC increased its stake in Realty Income by 7.4% in the third quarter. Parnassus Investments LLC now owns 24,448,225 shares of the real estate investment trust’s stock valued at $1,550,506,000 after acquiring an additional 1,676,293 shares during the last quarter. Legal & General Group Plc raised its position in Realty Income by 4.5% during the second quarter. Legal & General Group Plc now owns 12,258,468 shares of the real estate investment trust’s stock valued at $647,492,000 after purchasing an additional 531,008 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Realty Income by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 11,682,105 shares of the real estate investment trust’s stock worth $617,043,000 after purchasing an additional 413,865 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Realty Income by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,729,229 shares of the real estate investment trust’s stock worth $617,028,000 after purchasing an additional 463,286 shares in the last quarter. 70.81% of the stock is currently 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.