Realty Income Corp. (O) Cut to “Buy” at Vetr Inc.
Realty Income Corp. (NYSE:O) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday. They presently have a $74.01 target price on the stock. Vetr‘s price target would indicate a potential upside of 10.86% from the company’s current price.
Other analysts have also issued research reports about the stock. Oppenheimer Holdings Inc. raised their price objective on shares of Realty Income Corp. from $66.00 to $78.00 and gave the stock an “outperform” rating in a report on Thursday, July 28th. Zacks Investment Research raised shares of Realty Income Corp. from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a report on Wednesday, July 27th. Wunderlich raised their price objective on shares of Realty Income Corp. from $53.00 to $60.00 and gave the stock a “sell” rating in a report on Monday, August 1st. RBC Capital Markets reaffirmed a “sector perform” rating and set a $66.00 price objective (up previously from $58.00) on shares of Realty Income Corp. in a report on Monday, August 1st. Finally, Stifel Nicolaus raised their price objective on shares of Realty Income Corp. from $66.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. Realty Income Corp. currently has a consensus rating of “Hold” and a consensus price target of $64.31.
Shares of Realty Income Corp. (NYSE:O) traded up 1.78% during trading on Wednesday, reaching $66.76. The company’s stock had a trading volume of 1,458,175 shares. The stock has a market capitalization of $17.26 billion, a price-to-earnings ratio of 61.25 and a beta of 0.39. The company’s 50-day moving average price is $66.79 and its 200 day moving average price is $64.64. Realty Income Corp. has a 1-year low of $45.65 and a 1-year high of $72.30.
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Realty Income Corp. (NYSE:O) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by $0.02. Realty Income Corp. had a return on equity of 5.08% and a net margin of 27.95%. The business earned $260.06 million during the quarter, compared to analyst estimates of $274.34 million. During the same period last year, the company earned $0.69 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. Analysts anticipate that Realty Income Corp. will post $2.85 EPS for the current year.
The company also recently announced a oct 16 dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be issued a $0.202 dividend. 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 yield of 3.77%. Realty Income Corp.’s dividend payout ratio (DPR) is 222.02%.
In other Realty Income Corp. news, Director Kathleen Allen sold 4,000 shares of the stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $70.49, for a total value of $281,960.00. Following the sale, the director now directly owns 74,000 shares in the company, valued at $5,216,260. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ronald Merriman sold 2,500 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $66.68, for a total transaction of $166,700.00. Following the completion of 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. 0.30% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. Invictus RG purchased a new stake in Realty Income Corp. during the second quarter valued at $105,000. CENTRAL TRUST Co raised its stake in Realty Income Corp. by 13.3% in the second quarter. CENTRAL TRUST Co now owns 2,197 shares of the company’s stock valued at $152,000 after buying an additional 258 shares during the period. Chicago Partners Investment Group LLC purchased a new stake in Realty Income Corp. during the second quarter valued at $180,000. Rehmann Capital Advisory Group purchased a new stake in Realty Income Corp. during the second quarter valued at $202,000. Finally, WealthTrust Fairport LLC purchased a new stake in Realty Income Corp. during the second quarter valued at $202,000. Institutional investors own 70.97% of the company’s stock.
Realty Income Corp. Company Profile
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.
To view Vetr’s full report, visit Vetr’s official website.
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