Wall Street Analyst Initiated Realty Income Corp. [O]. What else is Wall St. saying

Realty Income Corp. [NYSE: O] surged by $0.22 during the normal trading session on while it closed the day at $52.69. The company report on February 20, 2024 at 4:15 PM that Realty Income Announces Operating Results for the Three Months and Year Ended December 31, 2023.

Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced operating results for the three months and year ended December 31, 2023. All per share amounts presented in this press release are on a diluted per common share basis unless stated otherwise.

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“As we focus on 2024 and beyond, I am energized by the strong position we have established through our continued emphasis on thoughtful growth,” said Sumit Roy, Realty Income’s President and Chief Executive Officer. “Subsequent to year end, we closed on the previously announced merger with Spirit, laying the foundation for 2024 AFFO per share growth guidance of 3.3% to 5.3%. More importantly, our capital raising activity in the fourth quarter and January further solidified our strong balance sheet and we have over $600 million of unsettled forward equity outstanding as of today, positioning us to achieve this guidance range with minimal reliance on the capital markets in 2024.”.

Realty Income Corp. stock has also gained 2.27% of its value over the past 7 days. However, O stock has declined by -0.42% in the 3 months of the year. Over the past six months meanwhile, it has lost -6.30% and lost -8.24% year-on date.

The market cap for O stock reached $38.14 billion, with 752.46 million shares outstanding and 723.05 million shares in the current float. Compared to the average trading volume of 7.60M shares, O reached a trading volume of 6514793 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Realty Income Corp. [O]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for O shares is $61.68 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on O stock is a recommendation set at 2.06. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BMO Capital Markets have made an estimate for Realty Income Corp. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on February 13, 2024. The new note on the price target was released on December 13, 2023, representing the official price target for Realty Income Corp. stock. Previously, the target price had yet another raise from $48 to $58, while Mizuho kept a Buy rating on O stock.

The Average True Range (ATR) for Realty Income Corp. is set at 1.07, with the Price to Sales ratio for O stock in the period of the last 12 months amounting to 9.35. The Price to Book ratio for the last quarter was 1.20, with the Price to Cash per share for the same quarter was set at 0.32. Price to Free Cash Flow for O in the course of the last twelve months was 13.86.

O stock trade performance evaluation

Realty Income Corp. [O] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.27. With this latest performance, O shares dropped by -5.20% in over the last four-week period, additionally sinking by -6.30% over the last 6 months – not to mention a drop of -20.31% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for O stock in for the last two-week period is set at 40.96, with the RSI for the last a single of trading hit 42.65, and the three-weeks RSI is set at 42.19 for Realty Income Corp. [O]. The present Moving Average for the last 50 days of trading for this stock 55.76, while it was recorded at 52.18 for the last single week of trading, and 56.13 for the last 200 days.

Earnings per share (EPS) analysis for Realty Income Corp. [O] stock

With the latest financial reports released by the company, Realty Income Corp. posted 0.34/share EPS, while the average EPS was predicted by analysts to be reported at 0.34/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for O. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Realty Income Corp. go to 22.62%.

Realty Income Corp. [O]: Institutional Ownership

The top three institutional holders of O stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in O stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in O stock with ownership which is approximately 5.8325%.