Royal Bank of Canada Lowers Realty Income (NYSE:O) Price Target to $60.00

Realty Income (NYSE:O) had its price objective lowered by stock analysts at Royal Bank of Canada from $62.00 to $60.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s target price suggests a potential upside of 6.33% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Realty Income in a research note on Wednesday, December 11th. They issued a “hold” rating and a $62.00 price target for the company. Stifel Nicolaus reduced their price objective on Realty Income from $70.00 to $66.50 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. UBS Group reduced their price target 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. Mizuho cut their price target on shares of Realty Income from $60.00 to $54.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, BNP Paribas lowered Realty Income from an “outperform” rating to a “neutral” rating and set a $61.00 price target on the stock. in a research report on Tuesday. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $61.96.

Realty Income Stock Performance

Shares of O traded up $0.19 during mid-day trading on Wednesday, hitting $56.43. 2,541,222 shares of the company’s stock were exchanged, compared to its average volume of 4,784,077. The stock’s 50-day simple moving average is $54.00 and its 200-day simple moving average is $58.00. The firm has a market cap of $49.39 billion, a price-to-earnings ratio of 53.77, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. Realty Income has a 52 week low of $50.65 and a 52 week high of $64.88. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.68.

Realty Income (NYSE:O) last released its earnings results on Monday, February 24th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.01). Realty Income had a net margin of 17.57% and a return on equity of 2.35%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.28 billion. On average, equities research analysts expect that Realty Income will post 4.19 EPS for the current year.

Hedge Funds Weigh In On Realty Income

A number of large investors have recently made changes to their positions in the stock. Trust Co. of Vermont raised its stake in shares of Realty Income by 12.7% during the 4th quarter. Trust Co. of Vermont now owns 253,503 shares of the real estate investment trust’s stock worth $13,540,000 after buying an additional 28,480 shares during the last quarter. Atlanta Consulting Group Advisors LLC acquired a new stake in shares of Realty Income in the third quarter valued at approximately $896,000. Charles Schwab Investment Management Inc. grew its position in shares of Realty Income by 5.0% in 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 purchasing an additional 463,286 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in shares of Realty Income by 6.0% during the 4th quarter. Asset Management One Co. Ltd. now owns 1,782,196 shares of the real estate investment trust’s stock worth $93,850,000 after purchasing an additional 101,184 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of Realty Income by 1.4% during the 3rd quarter. Swiss National Bank now owns 2,584,694 shares of the real estate investment trust’s stock worth $163,921,000 after purchasing an additional 35,100 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

About Realty Income

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.