Realty Income (NYSE:O) Stock Price Expected to Rise, Truist Financial Analyst Says

Realty Income (NYSE:O) had its target price increased by stock analysts at Truist Financial from $60.00 to $63.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. Truist Financial‘s price target would suggest a potential upside of 6.29% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Mizuho set a $187.00 price target on shares of Realty Income in a report on Monday, October 19th. Cantor Fitzgerald cut their price target on Realty Income from $68.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, November 5th. Barclays reduced their price objective on Realty Income from $65.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 20th. Wells Fargo & Company lowered their price objective on Realty Income from $64.00 to $59.00 and set an “equal weight” rating for the company in a research note on Monday, October 19th. Finally, Weiss Ratings lowered Realty Income from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $71.69.

Realty Income Stock Down 0.4%

NYSE O traded down $0.23 on Tuesday, reaching $59.27. The company had a trading volume of 807,629 shares, compared to its average volume of 6,469,761. The firm has a market capitalization of $56.37 billion, a PE ratio of 40.89, a P/E/G ratio of 4.62 and a beta of 0.65. Realty Income has a 1 year low of $53.15 and a 1 year high of $67.93. The firm has a 50-day moving average of $57.05 and a 200-day moving average of $61.53. The company has a debt-to-equity ratio of 0.74, a current ratio of 6.04 and a quick ratio of 5.88.

Realty Income (NYSE:O) last released its quarterly earnings results on Monday, November 2nd. The real estate investment trust reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The business had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.43 billion. Realty Income had a net margin of 21.85% and a return on equity of 3.27%. The business’s revenue was up 10.3% on a year-over-year basis. During the same period last year, the business earned $1.08 EPS. On average, equities research analysts anticipate that Realty Income will post 4.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Realty Income

Several large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Realty Income during the second quarter worth approximately $6,997,219,000. State Street Corp raised its stake in Realty Income by 3.4% during the 2nd quarter. State Street Corp now owns 65,929,425 shares of the real estate investment trust’s stock valued at $4,102,484,000 after acquiring an additional 2,166,180 shares in the last quarter. Bank of America Corp DE boosted its position in Realty Income by 10.3% during the 2nd quarter. Bank of America Corp DE now owns 19,117,994 shares of the real estate investment trust’s stock worth $1,184,551,000 after acquiring an additional 1,785,859 shares during the period. Dimensional Fund Advisors LP boosted its position in Realty Income by 1.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 13,018,219 shares of the real estate investment trust’s stock worth $796,457,000 after acquiring an additional 154,581 shares during the period. Finally, Legal & General Group Plc acquired a new position in Realty Income during the 2nd quarter worth $643,334,000. Institutional investors and hedge funds own 70.81% of the company’s stock.

Realty Income News Summary

Here are the key news stories impacting Realty Income this week:

• Positive Sentiment: Realty Income was highlighted as a monthly dividend stock suited to long-term retirement income and ranked eighth on a retirement-stock list. That favorable income-investor attention may support sentiment toward the REIT. Forget Share Price Hype: This Monthly Dividend Stock Fits Warren Buffett’s 10-Year Test
• Neutral Sentiment: A tax-planning article discusses holding high-yield REITs in a Roth account, putting the sector’s income and tax treatment in focus. The excerpt does not specify Realty Income’s role or provide company-specific news. 5 High Yield REITs That Pay You Tax Free Inside a Roth
• Negative Sentiment: A Seeking Alpha article titled “Realty Income: The Slowing Growth Is Worrying” flags growth concerns, which could temper enthusiasm for the stock despite its dividend appeal. The article details were not included in the feed. Realty Income: The Slowing Growth Is Worrying

About Realty Income

Realty Income Corporation is a real estate investment trust (REIT) that owns and manages commercial properties leased to businesses. Its portfolio includes retail, industrial, gaming, and other properties, typically leased under long-term net lease agreements in which tenants are responsible for many property operating expenses.

Founded in 1969, Realty Income is known as “The Monthly Dividend Company” for its monthly dividend payments. The company serves tenants across the United States and has expanded its property portfolio into Europe.

Realty Income is headquartered in San Diego, California.