Insider Selling: Realty Income Corporation (O) CFO Sells 5,603 Shares of Stock
Realty Income Corporation (NYSE:O) CFO Paul M. Meurer sold 5,603 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $54.75, for a total transaction of $306,764.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of Realty Income Corporation (NYSE:O) traded up $1.26 on Friday, reaching $55.19. 1,238,360 shares of the company’s stock traded hands, compared to its average volume of 1,691,706. The company has a market capitalization of $15.48 billion, a price-to-earnings ratio of 17.95 and a beta of 0.28.
Realty Income Corporation (NYSE:O) last posted its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. Realty Income Corporation had a net margin of 29.37% and a return on equity of 5.11%. The business had revenue of $306.90 million for the quarter, compared to analysts’ expectations of $292.73 million. During the same period in the prior year, the company posted $0.72 EPS. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. sell-side analysts predict that Realty Income Corporation will post 3 earnings per share for the current year.
The business also recently declared a nov 17 dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be paid a dividend of $0.212 per share. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a dividend yield of 4.49%. Realty Income Corporation’s dividend payout ratio (DPR) is presently 208.20%.
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Several brokerages have recently weighed in on O. FBR & Co began coverage on shares of Realty Income Corporation in a research report on Monday, July 17th. They set a “market perform” rating and a $56.00 price objective for the company. Zacks Investment Research downgraded shares of Realty Income Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Ladenburg Thalmann Financial Services restated a “hold” rating on shares of Realty Income Corporation in a research report on Thursday, October 26th. Capital One Financial Corporation reiterated an “equal weight” rating on shares of Realty Income Corporation in a research report on Wednesday, October 25th. Finally, Vetr upgraded shares of Realty Income Corporation from a “hold” rating to a “buy” rating and set a $58.60 price target for the company in a research report on Thursday, October 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $65.43.
Several large investors have recently bought and sold shares of the company. APG Asset Management US Inc. grew its stake in Realty Income Corporation by 111.1% in the 2nd quarter. APG Asset Management US Inc. now owns 2,111,300 shares of the real estate investment trust’s stock valued at $116,502,000 after acquiring an additional 1,111,300 shares during the last quarter. BlackRock Inc. grew its stake in Realty Income Corporation by 3.9% in the 2nd quarter. BlackRock Inc. now owns 27,144,544 shares of the real estate investment trust’s stock valued at $1,497,836,000 after acquiring an additional 1,024,539 shares during the last quarter. Vanguard Group Inc. grew its stake in Realty Income Corporation by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 46,814,575 shares of the real estate investment trust’s stock valued at $2,583,229,000 after acquiring an additional 834,811 shares during the last quarter. Standard Life Investments LTD acquired a new stake in Realty Income Corporation in the 2nd quarter valued at about $29,611,000. Finally, Principal Financial Group Inc. grew its stake in Realty Income Corporation by 92.8% in the 2nd quarter. Principal Financial Group Inc. now owns 790,148 shares of the real estate investment trust’s stock valued at $43,600,000 after acquiring an additional 380,379 shares during the last quarter. 69.04% of the stock is currently owned by institutional investors and hedge funds.
About Realty Income Corporation
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. As of December 31, 2016, the Company owned a diversified portfolio of 4,944 properties located in 49 states and Puerto Rico, with over 83.0 million square feet of leasable space leased to 248 different commercial tenants doing business in 47 separate industries.
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