Realty Income Corp. (O) Shares Gap Up to $65.22
Realty Income Corp. (NYSE:O)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $65.12, but opened at $65.22. Realty Income Corp. shares last traded at $65.65, with a volume of 495,844 shares traded.
A number of equities analysts have issued reports on O shares. Vetr cut Realty Income Corp. from a “hold” rating to a “sell” rating and set a $59.00 price target on the stock. in a report on Wednesday, June 1st. Citigroup Inc. increased their price target on Realty Income Corp. from $50.00 to $60.00 and gave the stock a “sell” rating in a report on Thursday, July 7th. Zacks Investment Research upgraded Realty Income Corp. from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a report on Wednesday, July 27th. Stifel Nicolaus increased their target price on Realty Income Corp. from $66.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Finally, Oppenheimer Holdings Inc. increased their target price on Realty Income Corp. from $66.00 to $78.00 and gave the stock an “outperform” rating in a report on Thursday, July 28th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Realty Income Corp. currently has an average rating of “Hold” and an average price target of $65.14.
The firm has a market capitalization of $16.96 billion, a PE ratio of 60.17 and a beta of 0.39. The stock’s 50 day moving average is $66.88 and its 200 day moving average is $64.63.
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Realty Income Corp. (NYSE:O) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by $0.02. Realty Income Corp. had a net margin of 27.95% and a return on equity of 5.08%. The firm had revenue of $260.06 million for the quarter, compared to the consensus estimate of $274.34 million. During the same quarter in the prior year, the firm earned $0.69 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities research analysts predict that Realty Income Corp. will post $2.85 earnings per share for the current year.
The company also recently declared a oct 16 dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be given a dividend of $0.202 per share. The ex-dividend date of this dividend is Thursday, September 29th. This is a positive change from Realty Income Corp.’s previous oct 16 dividend of $0.20. This represents a dividend yield of 3.77%. Realty Income Corp.’s payout ratio is currently 222.02%.
In related news, SVP Benjamin N. Fox sold 2,174 shares of Realty Income Corp. stock in a transaction that occurred on Friday, June 24th. The stock was sold at an average price of $65.79, for a total transaction of $143,027.46. Following the sale, the senior vice president now directly owns 12,130 shares in the company, valued at $798,032.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald Merriman sold 2,500 shares of Realty Income Corp. stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $66.68, for a total value of $166,700.00. Following the sale, the director now owns 12,075 shares in the company, valued at $805,161. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.
Several large investors have recently added to or reduced their stakes in O. Invictus RG acquired a new position in shares of Realty Income Corp. during the second quarter worth about $105,000. CENTRAL TRUST Co increased its position in shares of Realty Income Corp. by 13.3% in the second quarter. CENTRAL TRUST Co now owns 2,197 shares of the company’s stock worth $152,000 after buying an additional 258 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new position in shares of Realty Income Corp. during the second quarter worth about $180,000. Rehmann Capital Advisory Group acquired a new position in shares of Realty Income Corp. during the second quarter worth about $202,000. Finally, WealthTrust Fairport LLC acquired a new position in shares of Realty Income Corp. during the second quarter worth about $202,000. Institutional investors own 71.16% of the company’s stock.
About Realty Income Corp.
Realty Income Corporation is a real estate investment trust (REIT). The Company is engaged in in-house acquisition, portfolio management, asset management, credit research, real estate research, legal, finance and accounting, information technology and capital markets capabilities. Its portfolio includes approximately 4,540 properties, of which over 4,519 are single-tenant properties, and the remaining are multi-tenant properties.
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