Realty Income (NYSE:O) Given New $63.00 Price Target at Truist Financial

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

O has been the topic of several other research reports. Mizuho set a $187.00 target price on Realty Income in a report on Monday, October 19th. Wells Fargo & Company decreased their price target 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. Huntington assumed coverage on Realty Income in a research report on Monday, November 2nd. They set a “strong-buy” rating on the stock. Cantor Fitzgerald dropped their price objective on Realty Income from $68.00 to $63.00 and set a “neutral” rating on the stock in a research note on Thursday, November 5th. Finally, Scotiabank lowered Realty Income from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $67.00 to $59.00 in a report on Wednesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $71.69.

Realty Income Price Performance

Realty Income stock traded down $0.23 during trading hours on Tuesday, hitting $59.27. 807,629 shares of the company traded hands, compared to its average volume of 6,469,761. Realty Income has a 1-year low of $53.15 and a 1-year high of $67.93. The firm has a market cap of $56.37 billion, a P/E ratio of 40.89, a P/E/G ratio of 4.62 and a beta of 0.65. The firm’s 50-day simple moving average is $57.05 and its two-hundred day simple moving average is $61.53. The company has a quick ratio of 5.88, a current ratio of 6.04 and a debt-to-equity ratio of 0.74.

Realty Income (NYSE:O) last issued its quarterly earnings results on Monday, November 2nd. The real estate investment trust reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The company 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 for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.08 EPS. As a group, analysts forecast that Realty Income will post 4.52 earnings per share for the current fiscal year.

Institutional Trading of Realty Income

Several institutional investors and hedge funds have recently added to or reduced their stakes in O. Allspring Global Investments Holdings LLC increased its holdings in shares of Realty Income by 3.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 55,533 shares of the real estate investment trust’s stock valued at $2,973,000 after buying an additional 2,008 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Realty Income by 17.5% during the 3rd quarter. Pictet Asset Management Holding SA now owns 520,679 shares of the real estate investment trust’s stock valued at $28,273,000 after acquiring an additional 77,368 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Realty Income by 165.1% during the 3rd quarter. International Assets Investment Management LLC now owns 25,000 shares of the real estate investment trust’s stock valued at $1,358,000 after acquiring an additional 15,569 shares during the last quarter. Pathway Financial Advisers LLC lifted its position in shares of Realty Income by 3.2% during the 3rd quarter. Pathway Financial Advisers LLC now owns 106,492 shares of the real estate investment trust’s stock valued at $5,782,000 after acquiring an additional 3,296 shares during the last quarter. Finally, Chicago Partners Investment Group LLC boosted its stake in shares of Realty Income by 290.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 41,929 shares of the real estate investment trust’s stock worth $2,385,000 after acquiring an additional 31,185 shares in the last quarter. 70.81% of the stock is owned by institutional investors and hedge funds.

More Realty Income News

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.