Realty Income (NYSE:O) Stock Price Up 1.6% Following Dividend Announcement

Shares of Realty Income Corporation (NYSE:O) shot up 1.6% during trading on Wednesday after the company announced a dividend. The company traded as high as $62.41 and last traded at $62.2260. 6,366,211 shares were traded during trading, an increase of 2% from the average session volume of 6,236,302 shares. The stock had previously closed at $61.25.

The newly announced dividend which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.271 dividend. This is an increase from Realty Income’s previous monthly dividend of $0.27. This represents a c) dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Tuesday, June 30th. Realty Income’s dividend payout ratio is currently 266.39%.

Wall Street Analyst Weigh In

A number of research firms recently commented on O. Royal Bank Of Canada increased their price objective on Realty Income from $70.00 to $71.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Scotiabank restated an “outperform” rating on shares of Realty Income in a report on Tuesday, May 12th. Mizuho lowered their target price on shares of Realty Income from $68.00 to $66.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Evercore restated a “positive” rating on shares of Realty Income in a report on Wednesday, February 25th. Finally, Cantor Fitzgerald raised their target price on Realty Income from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $67.46.

Realty Income Stock Performance

The company has a market cap of $58.03 billion, a P/E ratio of 51.00, a price-to-earnings-growth ratio of 4.69 and a beta of 0.72. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.72. The stock’s 50-day moving average price is $62.38 and its 200 day moving average price is $61.35.

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

Insider Activity

In other news, insider Michelle Bushore sold 7,400 shares of the firm’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $62.42, for a total value of $461,908.00. Following the sale, the insider owned 67,641 shares in the company, valued at approximately $4,222,151.22. This trade represents a 9.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Realty Income

Several hedge funds and other institutional investors have recently modified their holdings of O. Brighton Jones LLC grew its stake in shares of Realty Income by 11.2% in the fourth quarter. Brighton Jones LLC now owns 6,101 shares of the real estate investment trust’s stock worth $326,000 after acquiring an additional 615 shares during the last quarter. Bison Wealth LLC acquired a new stake in shares of Realty Income in the fourth quarter worth $571,000. Empowered Funds LLC grew its stake in shares of Realty Income by 8.0% in the first quarter. Empowered Funds LLC now owns 18,029 shares of the real estate investment trust’s stock worth $1,041,000 after acquiring an additional 1,330 shares during the last quarter. Woodline Partners LP grew its stake in shares of Realty Income by 41.3% in the first quarter. Woodline Partners LP now owns 73,942 shares of the real estate investment trust’s stock worth $4,289,000 after acquiring an additional 21,603 shares during the last quarter. Finally, Intech Investment Management LLC grew its stake in shares of Realty Income by 14.9% in the first quarter. Intech Investment Management LLC now owns 25,401 shares of the real estate investment trust’s stock worth $1,474,000 after acquiring an additional 3,290 shares during the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

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.