Realty Income (NYSE:O) Sees Unusually-High Trading Volume – Here’s Why

Realty Income Corporation (NYSE:O) saw strong trading volume on Wednesday . Approximately 4,130,455 shares were traded during trading, a decline of 32% from the previous session’s volume of 6,056,252 shares.The stock last traded at $62.0210 and had previously closed at $61.89.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on O shares. Jefferies Financial Group initiated coverage on shares of Realty Income in a research report on Monday, June 1st. They issued a “buy” rating and a $69.00 target price for the company. Evercore set a $68.00 price target on shares of Realty Income in a report on Friday, August 7th. Scotiabank dropped their price target on shares of Realty Income from $72.00 to $67.00 and set a “sector outperform” rating on the stock in a research note on Thursday, June 18th. Weiss Ratings upgraded Realty Income from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Finally, Wells Fargo & Company lifted their price objective on Realty Income from $64.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Realty Income has a consensus rating of “Moderate Buy” and a consensus target price of $67.42.

Realty Income Stock Up 0.7%

The business has a fifty day moving average of $63.03 and a 200 day moving average of $63.09. The stock has a market cap of $59.67 billion, a price-to-earnings ratio of 46.03, a P/E/G ratio of 4.54 and a beta of 0.71. The company has a debt-to-equity ratio of 0.73, a current ratio of 5.88 and a quick ratio of 5.88.

Realty Income Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a $0.271 dividend. This represents a c) annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Friday, July 31st. Realty Income’s payout ratio is currently 237.23%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. EFG International AG acquired a new stake in shares of Realty Income in the 4th quarter valued at $26,000. Dunhill Financial LLC acquired a new position in Realty Income during the second quarter worth $27,000. Evolution Wealth Management Inc. increased its position in Realty Income by 257.1% during the fourth quarter. Evolution Wealth Management Inc. now owns 500 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 360 shares during the last quarter. Quattro Advisors LLC acquired a new position in Realty Income during the fourth quarter worth $29,000. Finally, Sankala Group LLC bought a new position in Realty Income during the fourth quarter valued at about $32,000. Institutional investors 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.