Realty Income (NYSE:O) had its target price boosted by Royal Bank of Canada from $57.00 to $60.00 in a research note issued to investors on Tuesday morning. Royal Bank of Canada currently has a sector perform rating on the real estate investment trust’s stock.
A number of other equities analysts also recently issued reports on the company. Zacks Investment Research downgraded Realty Income from a buy rating to a hold rating in a research report on Wednesday, October 24th. ValuEngine upgraded Realty Income from a hold rating to a buy rating in a research report on Tuesday, October 23rd. Morgan Stanley downgraded Realty Income from an overweight rating to an equal rating and set a $31.00 price objective for the company. in a research report on Monday, October 1st. JPMorgan Chase & Co. lifted their target price on Realty Income from $57.00 to $58.00 and gave the stock a neutral rating in a report on Monday, September 17th. Finally, Wells Fargo & Co set a $65.00 target price on Realty Income and gave the stock a buy rating in a report on Tuesday, September 4th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $56.78.
Shares of O opened at $62.76 on Tuesday. Realty Income has a 1 year low of $47.25 and a 1 year high of $62.96. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.88. The stock has a market cap of $18.17 billion, a PE ratio of 20.51, a P/E/G ratio of 4.48 and a beta of -0.01.
The firm also recently announced a nov 18 dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st will be issued a $0.2205 dividend. The ex-dividend date of this dividend is Wednesday, October 31st. This represents a yield of 4.56%. Realty Income’s payout ratio is currently 86.60%.
In other Realty Income news, Director A. Larry Chapman sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $58.56, for a total value of $527,040.00. Following the completion of the sale, the director now owns 18,757 shares of the company’s stock, valued at $1,098,409.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory Mclaughlin sold 3,100 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $58.00, for a total value of $179,800.00. Following the completion of the sale, the director now directly owns 16,886 shares of the company’s stock, valued at approximately $979,388. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in O. Moody National Bank Trust Division acquired a new stake in Realty Income in the third quarter valued at approximately $136,000. NEXT Financial Group Inc acquired a new stake in Realty Income in the third quarter valued at approximately $172,000. New England Asset Management Inc. acquired a new stake in Realty Income in the second quarter valued at approximately $178,000. Elmwood Wealth Management Inc. grew its stake in Realty Income by 100.0% in the second quarter. Elmwood Wealth Management Inc. now owns 3,392 shares of the real estate investment trust’s stock valued at $179,000 after acquiring an additional 1,696 shares during the period. Finally, Piedmont Investment Advisors LLC acquired a new stake in Realty Income in the second quarter valued at approximately $179,000. 68.44% of the stock is owned by hedge funds and other institutional investors.
Realty Income Company Profile
Realty Income, The Monthly Dividend Company is an S&P 500 company dedicated to providing stockholders with dependable monthly income. The company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 5,400 real estate properties owned under long-term lease agreements with regional and national commercial tenants.
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