Capital One Financial Equities Analysts Boost Earnings Estimates for Realty Income Corporation (O)
Realty Income Corporation (NYSE:O) – Research analysts at Capital One Financial lifted their FY2019 earnings per share estimates for Realty Income in a report issued on Thursday. Capital One Financial analyst C. Lucas now expects that the real estate investment trust will earn $3.26 per share for the year, up from their prior forecast of $3.24. Capital One Financial has a “Equal Weight” rating on the stock.
Realty Income (NYSE:O) last announced its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $306.90 million for the quarter, compared to analyst estimates of $292.73 million. Realty Income had a net margin of 29.37% and a return on equity of 5.11%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 EPS.
Shares of Realty Income (O) traded up $0.25 on Friday, hitting $55.55. 2,938,413 shares of the stock were exchanged, compared to its average volume of 1,750,051. The company has a market cap of $15,650.00, a price-to-earnings ratio of 18.26, a price-to-earnings-growth ratio of 4.59 and a beta of 0.28. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.26 and a quick ratio of 1.26. Realty Income has a 52-week low of $52.85 and a 52-week high of $63.60.
The company also recently announced a dec 17 dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a $0.212 dividend. The ex-dividend date is Thursday, November 30th. This represents a yield of 4.49%. Realty Income’s dividend payout ratio (DPR) is presently 208.20%.
In other Realty Income news, CFO Paul M. Meurer sold 5,603 shares of Realty Income stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $54.75, for a total value of $306,764.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory Mclaughlin sold 3,200 shares of Realty Income stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $58.85, for a total transaction of $188,320.00. Following the completion of the transaction, the director now directly owns 15,986 shares of the company’s stock, valued at $940,776.10. The disclosure for this sale can be found here. Insiders sold 10,549 shares of company stock valued at $593,646 over the last ninety days. Corporate insiders own 0.30% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in O. BlackRock Inc. raised its holdings in shares of Realty Income by 3.9% during the second quarter. BlackRock Inc. now owns 27,144,544 shares of the real estate investment trust’s stock valued at $1,497,836,000 after purchasing an additional 1,024,539 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Realty Income by 1.8% during the second 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 purchasing an additional 834,811 shares during the last quarter. Standard Life Investments LTD purchased a new position in shares of Realty Income during the second quarter valued at approximately $29,611,000. JPMorgan Chase & Co. raised its holdings in shares of Realty Income by 10.9% during the third quarter. JPMorgan Chase & Co. now owns 4,436,861 shares of the real estate investment trust’s stock valued at $256,540,000 after purchasing an additional 437,803 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Realty Income by 92.8% during the second quarter. Principal Financial Group Inc. now owns 790,148 shares of the real estate investment trust’s stock valued at $43,600,000 after purchasing an additional 380,379 shares during the last quarter. 70.07% of the stock is owned by hedge funds and other institutional investors.
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About Realty Income
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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