Realty Income has recently experienced notable insider trading activity. Director Mary Hogan Preusse sold 1,712 shares on September 11th at an average price of $62.58, resulting in a total transaction value of $107,136.96. Preusse now holds 26,579 shares in the company, valued at approximately $1,663,313.82. Director A. Larry Chapman also sold 5,000 shares on August 23rd at an average sale price of $60.77, totaling $303,850.00. Chapman now retains 5,257 shares in Realty Income, valued at $319,467.89. These transactions were disclosed in filings with the Securities and Exchange Commission (SEC).
Institutional investors have been adjusting their stakes in Realty Income. Pacifica Partners Inc. increased its stake by 444.4% during the second quarter, now holding 490 shares worth $26,000. Northwest Investment Counselors LLC acquired a new position valued at $27,000 in the first quarter. Bell Investment Advisors Inc. raised its position by 69.6% in the first quarter, now owning 529 shares worth $29,000. MFA Wealth Advisors LLC and Riverview Trust Co. also made new acquisitions during the second quarter and first quarter, respectively, with positions valued at $33,000 and $34,000. Hedge funds and institutional investors collectively own approximately 70.81% of Realty Income's stock.
Various research analysts have provided ratings and price targets for Realty Income. UBS Group raised its price target from $70.00 to $72.00 and maintained a buy rating. Stifel Nicolaus increased their target from $67.50 to $70.25. Morgan Stanley reiterated an "equal weight" rating with a price objective of $62.00. Scotiabank raised its target from $61.00 to $64.00 and Robert W. Baird boosted its target from $57.00 to $58.00. The consensus rating for Realty Income among analysts is currently "Hold," with an average target price of $63.94.
Realty Income's stock has shown resilience, trading up to $64.25 with a trading volume of 3,615,979 shares. The stock has a 52-week low of $45.03 and a high of $64.30.
Realty Income reported quarterly earnings of $0.29 per share, falling short of the consensus estimate of $0.36. However, the company reported revenue of $1.34 billion, surpassing analyst expectations of $1.22 billion, and showing a year-over-year revenue increase of 31.4%.
Realty Income continues to uphold its reputation as "The Monthly Dividend Company" by declaring a dividend of $0.2635, set to be paid on November 15th. The dividend represents a yield of 5.1%, but the company's dividend payout ratio is high at 292.59%.
Overall, the interplay between insider trading, institutional investment, and analyst ratings will be crucial in shaping Realty Income's trajectory as it navigates the complexities of the market.