Realty Income (NYSE:O) Reaches New 52-Week High After Dividend Announcement

Shares of Realty Income Corporation (NYSE:O) reached a new 52-week high on Tuesday following a dividend announcement from the company. The stock traded as high as $66.31 and last traded at $66.1650, with a volume of 418882 shares traded. The stock had previously closed at $65.66.

The newly announced dividend which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be given a $0.27 dividend. This represents a c) annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Friday, February 27th. Realty Income’s dividend payout ratio (DPR) is presently 300.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on O shares. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $61.00 price target on shares of Realty Income in a research report on Thursday, December 18th. Barclays boosted their target price on shares of Realty Income from $63.00 to $64.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 3rd. Royal Bank Of Canada increased their price target on shares of Realty Income from $60.00 to $61.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Morgan Stanley lifted their price target on shares of Realty Income from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 24th. Finally, Wells Fargo & Company upped their price objective on Realty Income from $59.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 25th. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Realty Income currently has a consensus rating of “Hold” and an average target price of $63.21.

Realty Income Price Performance

The stock has a fifty day simple moving average of $59.95 and a 200-day simple moving average of $58.98. The company has a market capitalization of $59.90 billion, a price-to-earnings ratio of 60.29, a P/E/G ratio of 3.93 and a beta of 0.79. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.53 and a quick ratio of 1.53.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Brighton Jones LLC lifted its stake in Realty Income by 11.2% in the 4th quarter. Brighton Jones LLC now owns 6,101 shares of the real estate investment trust’s stock valued at $326,000 after buying an additional 615 shares in the last quarter. Bison Wealth LLC acquired a new position in Realty Income in the fourth quarter valued at approximately $571,000. Empowered Funds LLC grew its holdings in shares of Realty Income by 8.0% during the 1st quarter. Empowered Funds LLC now owns 18,029 shares of the real estate investment trust’s stock worth $1,041,000 after purchasing an additional 1,330 shares during the period. Woodline Partners LP boosted its stake in Realty Income by 41.3% during the first quarter. Woodline Partners LP now owns 73,942 shares of the real estate investment trust’s stock worth $4,289,000 after buying an additional 21,603 shares during the period. Finally, Intech Investment Management LLC raised its stake in shares of Realty Income by 14.9% in the 1st quarter. Intech Investment Management LLC now owns 25,401 shares of the real estate investment trust’s stock valued at $1,474,000 after acquiring an additional 3,290 shares during the period. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Realty Income Company Profile

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.