B. Riley Weighs in on Realty Income Corporation’s Q1 2018 Earnings (O)
Realty Income Corporation (NYSE:O) – Stock analysts at B. Riley lowered their Q1 2018 EPS estimates for Realty Income in a research report issued on Monday. B. Riley analyst D. Corak now expects that the real estate investment trust will earn $0.77 per share for the quarter, down from their previous estimate of $0.78. B. Riley currently has a “Hold” rating and a $56.00 price objective on the stock. B. Riley also issued estimates for Realty Income’s Q4 2018 earnings at $0.79 EPS, FY2018 earnings at $3.15 EPS, Q2 2019 earnings at $0.79 EPS and Q3 2019 earnings at $0.79 EPS.
Several other equities research analysts have also commented on the company. UBS upgraded Realty Income from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $52.00 to $57.00 in a research report on Friday, September 8th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $65.00 target price on shares of Realty Income in a research note on Wednesday, November 1st. FBR & Co set a $56.00 target price on Realty Income and gave the stock a “hold” rating in a research note on Thursday, October 26th. Vetr raised Realty Income from a “hold” rating to a “buy” rating and set a $58.60 price objective for the company in a research report on Thursday, October 19th. Finally, Ladenburg Thalmann Financial Services reissued a “hold” rating on shares of Realty Income in a research report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. Realty Income presently has a consensus rating of “Hold” and a consensus price target of $64.09.
Realty Income (NYSE:O) last released its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. Realty Income had a net margin of 29.37% and a return on equity of 5.11%. The firm had revenue of $306.90 million for the quarter, compared to analysts’ expectations of $292.73 million. During the same quarter last year, the business posted $0.72 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in shares of Realty Income by 3.9% in the 2nd quarter. BlackRock Inc. now owns 27,144,544 shares of the real estate investment trust’s stock worth $1,497,836,000 after purchasing an additional 1,024,539 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Realty Income by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 46,814,575 shares of the real estate investment trust’s stock worth $2,583,229,000 after purchasing an additional 834,811 shares during the last quarter. Standard Life Investments LTD bought a new stake in shares of Realty Income in the 2nd quarter worth approximately $29,611,000. JPMorgan Chase & Co. lifted its holdings in shares of Realty Income by 10.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,436,861 shares of the real estate investment trust’s stock worth $256,540,000 after purchasing an additional 437,803 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Realty Income 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 period. 70.04% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP Joel Tomlinson sold 1,746 shares of the stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $56.45, for a total transaction of $98,561.70. Following the transaction, the senior vice president now directly owns 14,913 shares in the company, valued at $841,838.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory Mclaughlin sold 3,200 shares of the stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $58.85, for a total value of $188,320.00. Following the transaction, the director now owns 15,986 shares in the company, valued at $940,776.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,549 shares of company stock worth $593,646. 0.30% of the stock is owned by company insiders.
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 given a dividend of $0.212 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a yield of 4.49%. Realty Income’s payout ratio is 208.20%.
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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