Streetbeat News

Realty Income Corporation

https://www.realtyincome.com

Industry

REIT - Retail

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 6,500 real estate properties owned under long-term lease agreements with our commercial clients. To date, the company has declared 608 consecutive common stock monthly dividends throughout its 52-year operating history and increased the dividend 109 times since Realty Income's public listing in 1994 (NYSE: O). The company is a member of the S&P 500 Dividend Aristocrats index. Additional information about the company can be obtained from the corporate website at www.realtyincome.com.

Open

56.72

Mkt cap

50B

Volume

1.9M

High

57.23

P/E Ratio

54.36

52-wk high

64.88

Low

56.33

Div yield

0.05

52-wk low

50.65

Exane BNP Paribas analyst Nate Crossett upgraded Realty Income (NYSE:O) from Neutral to Outperform and set a price target of $63.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 1:29 pm

Realty Income Corporation (NYSE: O), known as The Monthly Dividend Company®, has increased its monthly cash dividend from $0.2560 to $0.2565 per share. This marks the 123rd dividend increase since its NYSE listing in 1994. The dividend is payable on January 12, 2024, to shareholders of record on January 2, 2024, with an ex-dividend date of December 29, 2023. The annualized dividend amount has risen from $3.072 to $3.078 per share. CEO Sumit Roy emphasized the company's commitment to providing stockholders with reliable monthly dividends, noting this is the 105th consecutive quarter of dividend increases.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 9:13 pm

Realty Income Corporation's acquisition of Spirit Realty Capital positions it as the fourth-largest REIT and in the top 200 companies of the S&P 500. The merger is expected to be accretive to AFFO and offers benefits like enhanced bargaining power, improved equity liquidity, and lower financing costs. However, challenges include potential difficulties in sustaining M&A growth and diversification risks. Realty Income's valuation is attractive post-acquisition, with analysts from RBC Capital and Wolfe Research upgrading the stock and raising price targets.

Portfolio Pulse from Surbhi Jain

December 11, 2023 | 1:44 pm

Realty Income (NYSE:O) has received mixed analyst ratings in the last quarter, with 1 bullish, 2 somewhat bullish, 3 indifferent, and no bearish ratings. The average 12-month price target among 6 analysts is $58.25, which is a 6.31% decrease from the previous target of $62.17. Analysts' ratings are based on financial predictions and company performance assessments.

Portfolio Pulse from Benzinga Insights

December 06, 2023 | 1:01 pm

Wolfe Research analyst Andrew Rosivach upgraded Realty Income (NYSE:O) from Peer Perform to Outperform and set a price target of $66.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 10:26 am

Realty Income Inc. (NYSE:O) saw a slight decrease of 0.04% in its share price, currently at $53.94. Despite a 7.08% increase over the past month, the stock has fallen by 12.52% over the past year. The company's P/E ratio of 40.88 is lower than the Retail REITs industry average of 73.86, which could suggest undervaluation or weaker growth prospects. Investors are advised to consider the P/E ratio among other financial metrics and industry trends for a comprehensive analysis.

Portfolio Pulse from Benzinga Insights

December 01, 2023 | 7:00 pm

Realty Income Corporation (NYSE:O) has priced a public offering of £750 million in senior unsecured notes, split into two tranches: £300 million at 5.750% due 2031 and £450 million at 6.000% due 2039. The offering prices were 99.298% and 99.250% of the principal amounts, respectively. The proceeds will be used for general corporate purposes, including debt repayment, property development, and acquisitions. The offering is set to close on December 5, 2023, with Wells Fargo Securities, Barclays, BNP Paribas, BofA Securities, and RBC Capital Markets as the active joint book-running managers.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 9:26 pm

Realty Income (NYSE:O) has seen a 7.65% decrease in short interest, now at 9.80 million shares or 1.57% of float, with a short-covering time of 1.18 days. This decline in short interest may indicate a more bullish sentiment among investors, although it doesn't necessarily predict a near-term price rise. Realty Income has a lower short interest compared to its peer group average of 5.11%.

Portfolio Pulse from Benzinga Insights

November 24, 2023 | 1:45 pm

RBC Capital analyst Brad Heffern maintains an Outperform rating on Realty Income (NYSE:O) and raises the price target from $56 to $57.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 8:09 pm

Realty Income Corporation (O) has announced plans to acquire Spirit Realty Capital (SRC) in an all-stock deal valued at $9.3 billion. The deal is expected to enhance Realty Income's portfolio and provide significant financial benefits.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 7:55 pm

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