Vetr Inc. Upgrades Realty Income Corp. (O) to “Buy”
Realty Income Corp. (NYSE:O) was upgraded by equities researchers at Vetr from a “hold” rating to a “buy” rating in a research note issued on Saturday.
Other equities research analysts have also recently issued research reports about the stock. Oppenheimer Holdings Inc. boosted their target price on shares of Realty Income Corp. from $66.00 to $78.00 and gave the company 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 target on the stock in a report on Wednesday, July 27th. Wunderlich upped their price target 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 issued a $66.00 price target (up previously from $58.00) on shares of Realty Income Corp. in a report on Monday, August 1st. Finally, Stifel Nicolaus upped their price target 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 investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $63.32.
Realty Income Corp. (NYSE:O) opened at 61.46 on Friday. The company’s 50-day moving average price is $65.90 and its 200 day moving average price is $65.12. The company has a market capitalization of $15.89 billion, a price-to-earnings ratio of 56.39 and a beta of 0.33. Realty Income Corp. has a 12 month low of $45.98 and a 12 month high of $72.30.
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Realty Income Corp. (NYSE:O) last issued its earnings results on Thursday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $260.06 million for the quarter, compared to the consensus estimate of $274.34 million. During the same period in the previous year, the firm earned $0.69 EPS. The company’s revenue was up 7.7% compared to the same quarter last year. Analysts forecast that Realty Income Corp. will post $2.85 EPS for the current fiscal year.
The firm also recently declared a oct 16 dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be given a dividend of $0.202 per share. This represents a yield of 3.77%. This is a positive change from Realty Income Corp.’s previous oct 16 dividend of $0.20. The ex-dividend date of this dividend is Thursday, September 29th. Realty Income Corp.’s dividend payout ratio is presently 222.02%.
In other news, Director Kathleen Allen sold 4,000 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $70.49, for a total transaction of $281,960.00. Following the completion of the transaction, the director now directly owns 74,000 shares of the company’s stock, valued at $5,216,260. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ronald Merriman sold 2,500 shares of the company’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $66.68, for a total transaction of $166,700.00. Following the transaction, the director now directly owns 12,075 shares of the company’s stock, valued at $805,161. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Invictus RG purchased a new position in shares of Realty Income Corp. during the second quarter valued at approximately $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 valued at $152,000 after buying an additional 258 shares during the period. Chicago Partners Investment Group LLC purchased a new position in shares of Realty Income Corp. during the second quarter valued at approximately $180,000. Rehmann Capital Advisory Group purchased a new position in shares of Realty Income Corp. during the second quarter valued at approximately $202,000. Finally, WealthTrust Fairport LLC purchased a new position in shares of Realty Income Corp. during the second quarter valued at approximately $202,000. 70.99% of the stock is owned by hedge funds and other institutional investors.
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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