Realty Income Corp. (O) Receives Consensus Rating of “Hold” from Brokerages
Shares of Realty Income Corp. (NYSE:O) have been assigned a consensus recommendation of “Hold” from the seventeen brokerages that are covering the firm. Three equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $62.92.
O has been the subject of a number of recent analyst reports. Vetr lowered Realty Income Corp. from a “sell” rating to a “strong sell” rating and set a $58.50 target price for the company. in a report on Monday, June 27th. Citigroup Inc. lifted their target price on Realty Income Corp. from $50.00 to $60.00 and gave the company a “sell” rating in a report on Thursday, July 7th. RBC Capital Markets reissued 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. Wunderlich boosted their price objective on Realty Income Corp. from $53.00 to $60.00 and gave the stock a “sell” rating in a report on Monday, August 1st. Finally, Oppenheimer Holdings Inc. boosted their price objective on Realty Income Corp. from $66.00 to $78.00 and gave the stock an “outperform” rating in a report on Thursday, July 28th.
Shares of Realty Income Corp. (NYSE:O) traded down 0.38% on Wednesday, reaching $62.42. 371,111 shares of the company were exchanged. The stock’s 50-day moving average is $64.98 and its 200 day moving average is $65.15. Realty Income Corp. has a 12-month low of $45.98 and a 12-month high of $72.30. The firm has a market capitalization of $16.14 billion, a PE ratio of 57.27 and a beta of 0.33.
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Realty Income Corp. (NYSE:O) last posted its earnings results on Thursday, July 28th. The company reported $0.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.72 by $0.02. The company had revenue of $260.06 million for the quarter, compared to analysts’ expectations of $274.34 million. Realty Income Corp. had a net margin of 27.95% and a return on equity of 5.08%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.69 EPS. On average, analysts forecast that Realty Income Corp. will post $2.85 EPS for the current year.
The business also recently disclosed a nov 16 dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Tuesday, November 1st will be given a $0.202 dividend. The ex-dividend date of this dividend is Friday, October 28th. This represents a yield of 3.93%. Realty Income Corp.’s payout ratio is currently 222.02%.
In related news, Director Ronald Merriman sold 2,500 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 12,075 shares in the company, valued at $805,161. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kathleen Allen sold 4,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 74,000 shares of the company’s stock, valued at approximately $5,216,260. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Realty Income Corp. by 4.0% in the second quarter. Vanguard Group Inc. now owns 42,640,936 shares of the company’s stock worth $2,957,575,000 after buying an additional 1,639,015 shares in the last quarter. Janus Capital Management LLC boosted its stake in shares of Realty Income Corp. by 304.8% in the second quarter. Janus Capital Management LLC now owns 2,174,113 shares of the company’s stock valued at $150,797,000 after buying an additional 1,637,045 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Realty Income Corp. by 580.4% in the second quarter. Nuveen Asset Management LLC now owns 1,349,426 shares of the company’s stock valued at $93,596,000 after buying an additional 1,151,096 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Realty Income Corp. by 12.5% in the second quarter. BlackRock Fund Advisors now owns 9,283,036 shares of the company’s stock valued at $643,871,000 after buying an additional 1,032,768 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Realty Income Corp. by 22.8% in the second quarter. JPMorgan Chase & Co. now owns 4,255,171 shares of the company’s stock valued at $295,138,000 after buying an additional 790,144 shares during the last quarter. Institutional investors own 70.96% 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.
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