Brokerages Set Realty Income Corporation (NYSE:O) Target Price at $63.21

Realty Income Corporation (NYSE:O) has been given a consensus rating of “Hold” by the sixteen analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $63.2143.

O has been the topic of a number of recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Realty Income in a research report on Monday, December 29th. Mizuho lowered their target price on Realty Income from $63.00 to $60.00 and set a “neutral” rating on the stock in a report on Wednesday, December 17th. Morgan Stanley upped their price target on Realty Income from $62.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 24th. Barclays lifted their price objective on Realty Income from $63.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 3rd. Finally, Wells Fargo & Company upped their target price on Realty Income from $59.00 to $60.00 and gave the company an “equal weight” rating in a report on Tuesday, November 25th.

Institutional Investors Weigh In On Realty Income

Institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp increased its position in Realty Income by 1.1% during the second quarter. State Street Corp now owns 61,732,956 shares of the real estate investment trust’s stock worth $3,556,436,000 after acquiring an additional 676,697 shares during the period. OLD National Bancorp IN bought a new stake in shares of Realty Income in the third quarter valued at approximately $3,391,000. Federated Hermes Inc. increased its stake in Realty Income by 13.1% during the 2nd quarter. Federated Hermes Inc. now owns 2,669,031 shares of the real estate investment trust’s stock worth $153,763,000 after acquiring an additional 309,902 shares during the period. Bank of New York Mellon Corp raised its holdings in Realty Income by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,813,174 shares of the real estate investment trust’s stock valued at $334,897,000 after acquiring an additional 84,066 shares in the last quarter. Finally, Allied Investment Advisors LLC bought a new stake in shares of Realty Income during the 3rd quarter valued at $10,870,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Realty Income Price Performance

Shares of O stock opened at $63.27 on Monday. Realty Income has a fifty-two week low of $50.71 and a fifty-two week high of $63.90. The firm has a market capitalization of $58.20 billion, a price-to-earnings ratio of 58.58, a PEG ratio of 3.74 and a beta of 0.79. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.53 and a current ratio of 1.53. The stock’s 50-day simple moving average is $58.78 and its 200-day simple moving average is $58.55.

Realty Income Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be issued a $0.27 dividend. This represents a c) annualized dividend and a yield of 5.1%. The ex-dividend date is Friday, January 30th. Realty Income’s payout ratio is 300.00%.

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.