Scotiabank Lowers Realty Income (NYSE:O) Price Target to $67.00

Realty Income (NYSE:O) had its price objective dropped by analysts at Scotiabank from $72.00 to $67.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank’s price target would suggest a potential upside of 10.57% from the company’s current price.

O has been the topic of several other research reports. Mizuho lowered their target price on Realty Income from $68.00 to $66.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Morgan Stanley set a $67.00 price target on Realty Income in a research note on Monday, April 27th. Wall Street Zen raised Realty Income from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Freedom Capital raised Realty Income from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. Finally, Jefferies Financial Group initiated coverage on Realty Income in a research note on Monday, June 1st. They issued a “buy” rating and a $69.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Realty Income presently has an average rating of “Hold” and an average target price of $67.11.

Realty Income Stock Up 0.0%

NYSE:O traded up $0.03 on Thursday, hitting $60.60. 2,266,686 shares of the company’s stock traded hands, compared to its average volume of 6,170,348. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.72. Realty Income has a 1 year low of $55.86 and a 1 year high of $67.93. The firm has a 50-day moving average price of $62.41 and a 200-day moving average price of $61.57. The company has a market cap of $56.50 billion, a PE ratio of 49.66, a price-to-earnings-growth ratio of 4.86 and a beta of 0.72.

Realty Income (NYSE:O) last released its earnings results on Wednesday, May 6th. The real estate investment trust reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.03. Realty Income had a return on equity of 2.80% and a net margin of 18.94%.The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the previous year, the business posted $1.06 EPS. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. Realty Income has set its FY 2026 guidance at 4.410-4.440 EPS. Equities analysts anticipate that Realty Income will post 4.44 EPS for the current fiscal year.

Insider Activity at Realty Income

In related news, insider Michelle Bushore sold 7,400 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $62.42, for a total value of $461,908.00. Following the completion of the sale, the insider directly owned 67,641 shares in the company, valued at approximately $4,222,151.22. The trade was a 9.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Realty Income

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Realty Income by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 150,415,287 shares of the real estate investment trust’s stock worth $8,478,910,000 after purchasing an additional 684,949 shares during the last quarter. State Street Corp lifted its holdings in shares of Realty Income by 0.8% during the fourth quarter. State Street Corp now owns 63,559,987 shares of the real estate investment trust’s stock worth $3,599,676,000 after buying an additional 531,095 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Realty Income by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 29,206,196 shares of the real estate investment trust’s stock worth $1,655,991,000 after buying an additional 793,100 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Realty Income by 21.6% during the fourth quarter. Morgan Stanley now owns 18,291,294 shares of the real estate investment trust’s stock worth $1,031,080,000 after buying an additional 3,252,091 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Realty Income by 1.2% during the first quarter. Dimensional Fund Advisors LP now owns 13,018,219 shares of the real estate investment trust’s stock worth $796,457,000 after buying an additional 154,581 shares during the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.

About Realty Income

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.