StockNews.com Enhances Rating for Realty Income Corporation to Hold

Realty Income Corporation NYSE:O has had its rating revised by equity research analysts at StockNews.com, moving from a previou 'sell' to a current stance of 'hold'. The update was communicated to investors in a release on Friday, marking a notable change in the investment analysis firm's view of the real estate investment trust's stock performance.

Analyst Insights on Realty Income

A collective of research analysts have recently provided their assessments on NYSE:O. Mizuho has dropped their price target on Realty Income from $61.00 to $48.00, maintaining a 'neutral' rating on the shares as of October 31st. Scotiabank has relegated Realty Income from a 'sector outperform' to a 'sector perform' rating, bringing down the price objective from $61.00 to $54.00 on October 16th. Similarly, TheStreet downgraded Realty Income's shares from a 'b-' to a 'c+' rating on August 23rd. On October 10th, Bank of America shifted their stance, rating Realty Income as 'neutral' from 'buy', while reducing the price objective from $67.00 to $52.00. Wells Fargo & Company initiated coverage on Realty Income on September 20th, recommending an 'equal weight' rating with a $59.00 price target.

In consideration of these analyst verdicts, Realty Income now has an aggregate rating of 'Hold' and an average price target of $60.90, as compiled by MarketBeat data.

Realty Income's Market Performance

The opening share price for NYSE:O was recorded at $50.06 on the rating upgrade day. The stock has been navigating at a 50-day simple moving average of $51.19 and a 200-day simple moving average of $56.94. With a market capitalization standing at $36.24 billion, the stock holds a price-to-earnings ratio of 37.92, a price-to-earnings-growth ratio of 2.51, and a beta of 0.87. The reported quick ratio is 1.56, the current ratio is 1.55, and the debt-to-equity ratio hovers around 0.64. Over the last year, Realty Income's shares have seen a low of $45.03 and a peak of $68.85.

As for their financial reporting, Realty Income last released their earnings data on November 6th, disclosing quarterly earnings per share (EPS) of $0.33, a figure which fell short of the consensus estimate of $1.00 by $0.67. The net margin reported was 22.64% with a return on equity of 2.90%. The reported revenue was $1.04 billion, compared to the expected $999.01 million. Year-over-year, the company's revenue witnessed a 24.1% increase for the comparable quarter. Presently, analysts are anticipating Realty Income to announce an EPS of 4 for the ongoing fiscal year.

Institutional Holdings in Realty Income

Numerous hedge funds have either increased or decreased their holdings in NYSE:O. BlackRock Inc. NYSE:BLK, State Street Corp NYSE:STT, Cohen & Steers Inc. NYSE:CNS, Bank of America Corp DE NYSE:BAC, and Morgan Stanley NYSE:MS have all made significant adjustments to their stake in Realty Income. Institutional investors and hedge funds are reported to own approximately 78.82% of the company's shares.

Background on Realty Income

Realty Income, renowned as 'The Monthly Dividend Company', is an S&P 500 constituent and a member of the venerated S&P 500 Dividend Aristocrats index. As a REIT, Realty Income primarily focuses on investments in over 13,100 real estate properties, accruing dependable monthly dividends underpinned by robust commercial lease agreements.

With these updates in view, investors and stakeholders are keeping a closer watch on the performance and stability of Realty Income amidst fluctuating market conditions.

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