Realty Income (NYSE:O) Given New $59.00 Price Target at Scotiabank

Realty Income (NYSE:OGet Free Report) had its target price cut by equities researchers at Scotiabank from $61.00 to $59.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective indicates a potential upside of 8.49% from the stock’s current price.

Other analysts have also issued reports about the stock. Royal Bank of Canada lowered their price target on shares of Realty Income from $67.00 to $63.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Wells Fargo & Company reiterated an “equal weight” rating and set a $65.00 price objective (up previously from $62.00) on shares of Realty Income in a research report on Tuesday, October 1st. Mizuho lowered their price target on shares of Realty Income from $60.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. UBS Group decreased their target price on shares of Realty Income from $72.00 to $71.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Finally, Barclays initiated coverage on Realty Income in a report on Tuesday, December 17th. They issued an “equal weight” rating and a $59.00 price target for the company. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $62.12.

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Realty Income Stock Performance

Shares of Realty Income stock traded up $1.21 on Thursday, reaching $54.38. 2,739,299 shares of the stock were exchanged, compared to its average volume of 4,847,560. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.68. The business has a fifty day moving average price of $55.09 and a two-hundred day moving average price of $58.37. Realty Income has a 1-year low of $50.65 and a 1-year high of $64.88. The firm has a market capitalization of $47.60 billion, a PE ratio of 51.78, a PEG ratio of 1.85 and a beta of 1.00.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in O. Atlanta Consulting Group Advisors LLC purchased a new position in shares of Realty Income in the third quarter valued at $896,000. Code Waechter LLC purchased a new position in Realty Income in the 3rd quarter valued at about $1,308,000. Charles Schwab Investment Management Inc. grew its stake in shares of Realty Income by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 9,729,229 shares of the real estate investment trust’s stock valued at $617,028,000 after acquiring an additional 463,286 shares in the last quarter. Swiss National Bank increased its position in shares of Realty Income by 1.4% during the third quarter. Swiss National Bank now owns 2,584,694 shares of the real estate investment trust’s stock worth $163,921,000 after acquiring an additional 35,100 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Realty Income by 3.5% in the third quarter. Principal Financial Group Inc. now owns 2,190,739 shares of the real estate investment trust’s stock worth $138,937,000 after acquiring an additional 74,185 shares in the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

About Realty Income

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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.

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