Realty Income Corp. (O) Stock Rating Upgraded by Zacks Investment Research
Realty Income Corp. (NYSE:O) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage presently has a $70.00 target price on the stock. Zacks Investment Research’s price target indicates a potential upside of 11.73% from the company’s current price.
According to Zacks, “REALTY INCOME CORP. is a fully integrated, self-administered and self-managed real estate company with in-house acquisition, leasing, legal, financial underwriting, porfolio management and capital markets expertise. “
Other analysts have also recently issued reports about the company. Mizuho started coverage on Realty Income Corp. in a report on Thursday, October 13th. They set a “neutral” rating and a $65.00 price objective for the company. Vetr raised Realty Income Corp. from a “hold” rating to a “buy” rating in a report on Saturday, October 8th. BTIG Research started coverage on Realty Income Corp. in a report on Thursday, August 25th. They set a “neutral” rating for the company. RBC Capital Markets reissued a “sector perform” rating and set a $66.00 price objective (up from $58.00) on shares of Realty Income Corp. in a report on Monday, August 1st. Finally, Royal Bank Of Canada boosted their price objective on Realty Income Corp. from $58.00 to $66.00 and gave the stock a “sector perform” rating in a report on Monday, August 1st. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $62.80.
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Realty Income Corp. (NYSE:O) last issued 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. The company had revenue of $260.06 million for the quarter, compared to analyst estimates of $274.34 million. Realty Income Corp. had a return on equity of 5.08% and a net margin of 27.95%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $0.69 EPS.
The company also recently declared a nov 16 dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Tuesday, November 1st will be given a dividend of $0.202 per share. This represents a yield of 3.93%. The ex-dividend date is Friday, October 28th. Realty Income Corp.’s dividend payout ratio (DPR) is currently 222.02%.
In other news, Director Kathleen Allen sold 4,000 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $70.49, for a total value of $281,960.00. Following the completion of the sale, the director now owns 74,000 shares of the company’s stock, valued at approximately $5,216,260. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ronald Merriman sold 2,500 shares of the 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 completion of the sale, the director now directly owns 12,075 shares of the company’s stock, valued at approximately $805,161. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.
Several large investors have recently added to or reduced their stakes in O. Victory Capital Management Inc. increased its stake in Realty Income Corp. by 0.4% in the second quarter. Victory Capital Management Inc. now owns 3,288 shares of the company’s stock valued at $228,000 after buying an additional 13 shares during the last quarter. Atlanta Capital Group increased its stake in Realty Income Corp. by 0.4% in the second quarter. Atlanta Capital Group now owns 4,743 shares of the company’s stock valued at $329,000 after buying an additional 18 shares during the last quarter. Raymond James Trust N.A. increased its stake in Realty Income Corp. by 0.3% in the second quarter. Raymond James Trust N.A. now owns 15,955 shares of the company’s stock valued at $1,107,000 after buying an additional 46 shares during the last quarter. Checchi Capital Advisers LLC increased its stake in Realty Income Corp. by 1.7% in the second quarter. Checchi Capital Advisers LLC now owns 3,286 shares of the company’s stock valued at $228,000 after buying an additional 54 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its stake in Realty Income Corp. by 1.4% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 6,326 shares of the company’s stock valued at $395,000 after buying an additional 88 shares during the last quarter. 70.96% of the stock is owned by 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.
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