Realty Income Corp (NYSE:O)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $70.40, but opened at $70.41. Realty Income shares last traded at $68.50, with a volume of 2,206,216 shares.
Several equities analysts recently commented on the stock. Stifel Nicolaus increased their target price on shares of Realty Income from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Citigroup set a $74.00 target price on shares of Realty Income and gave the company a “hold” rating in a report on Tuesday, June 11th. Zacks Investment Research lowered shares of Realty Income from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. Wells Fargo & Co increased their target price on shares of Realty Income from $71.00 to $78.00 and gave the company an “outperform” rating in a report on Thursday, March 21st. They noted that the move was a valuation call. Finally, Capital One Financial raised shares of Realty Income from an “underweight” rating to an “equal weight” rating in a report on Wednesday, May 8th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $61.91.
The stock has a market capitalization of $21.95 billion, a price-to-earnings ratio of 21.47, a PEG ratio of 4.87 and a beta of 0.16. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.80. The business’s 50-day simple moving average is $70.70.
The company also recently declared a monthly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be given a dividend of $0.227 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.72 annualized dividend and a yield of 3.98%. This is a boost from Realty Income’s previous monthly dividend of $0.18. Realty Income’s dividend payout ratio is presently 84.95%.
In other Realty Income news, EVP Benjamin N. Fox sold 2,631 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $70.70, for a total transaction of $186,011.70. Following the completion of the sale, the executive vice president now owns 12,812 shares of the company’s stock, valued at approximately $905,808.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ronald Merriman sold 6,000 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $70.72, for a total transaction of $424,320.00. Following the sale, the director now directly owns 18,075 shares of the company’s stock, valued at approximately $1,278,264. The disclosure for this sale can be found here. Insiders have sold a total of 19,460 shares of company stock valued at $1,366,521 in the last three months. 0.20% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the company. Pearl River Capital LLC purchased a new stake in shares of Realty Income in the 4th quarter worth about $26,000. Investors Research Corp purchased a new stake in shares of Realty Income in the 1st quarter worth about $27,000. Cornerstone Advisors Inc. lifted its position in shares of Realty Income by 245.9% in the 1st quarter. Cornerstone Advisors Inc. now owns 377 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 268 shares during the period. Cascade Investment Advisors Inc. lifted its position in shares of Realty Income by 900.0% in the 1st quarter. Cascade Investment Advisors Inc. now owns 400 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 360 shares during the period. Finally, Somerset Trust Co lifted its position in shares of Realty Income by 192.3% in the 1st quarter. Somerset Trust Co now owns 456 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 300 shares during the period. 69.24% of the stock is owned by hedge funds and other institutional investors.
About Realty Income (NYSE:O)
Realty Income, The Monthly Dividend Company, is an S&P 500 company dedicated to providing stockholders with dependable monthly income. The company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 5,700 real estate properties owned under long-term lease agreements with regional and national commercial tenants.
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