Realty Income Corp (NYSE:O) – Stock analysts at B. Riley lifted their FY2018 EPS estimates for Realty Income in a note issued to investors on Tuesday. B. Riley analyst D. Corak now forecasts that the real estate investment trust will earn $3.16 per share for the year, up from their prior estimate of $3.15. B. Riley 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 $0.80 EPS and FY2019 earnings at $3.18 EPS.
A number of other equities research analysts have also weighed in on O. UBS Group upgraded shares of Realty Income from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $52.00 to $57.00 in a report on Friday, September 8th. Vetr upgraded shares of Realty Income from a “hold” rating to a “buy” rating and set a $58.60 price objective for the company in a report on Thursday, October 19th. Zacks Investment Research lowered shares of Realty Income from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. FBR & Co set a $56.00 price objective on shares of Realty Income and gave the company a “hold” rating in a report on Thursday, October 26th. Finally, Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of Realty Income in a report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $64.09.
Realty Income (NYSE:O) last released its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The firm had revenue of $306.90 million during 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 business’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the business earned $0.72 EPS.
The company also recently disclosed a jan 17 dividend, which will be paid on Friday, January 12th. Stockholders of record on Tuesday, January 2nd will be given a $0.2125 dividend. The ex-dividend date of this dividend is Friday, December 29th. This represents a dividend yield of 4.48%. This is an increase from Realty Income’s previous jan 17 dividend of $0.21. Realty Income’s payout ratio is presently 209.02%.
In other Realty Income news, SVP Joel Tomlinson sold 1,746 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $56.45, for a total transaction of $98,561.70. Following the sale, the senior vice president now owns 14,913 shares of the company’s stock, valued at approximately $841,838.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC lifted its stake in Realty Income by 16.2% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 448,710 shares of the real estate investment trust’s stock valued at $25,662,000 after acquiring an additional 62,446 shares during the period. Chicago Partners Investment Group LLC lifted its stake in Realty Income by 401.5% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 11,866 shares of the real estate investment trust’s stock valued at $679,000 after acquiring an additional 9,500 shares during the period. Public Employees Retirement System of Ohio lifted its stake in Realty Income by 4.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 144,436 shares of the real estate investment trust’s stock valued at $8,260,000 after acquiring an additional 5,567 shares during the period. GSA Capital Partners LLP lifted its stake in Realty Income by 79.2% during the 3rd quarter. GSA Capital Partners LLP now owns 13,943 shares of the real estate investment trust’s stock valued at $797,000 after acquiring an additional 6,161 shares during the period. Finally, Moors & Cabot Inc. lifted its stake in Realty Income by 11.2% during the 3rd quarter. Moors & Cabot Inc. now owns 18,425 shares of the real estate investment trust’s stock valued at $1,049,000 after acquiring an additional 1,860 shares during the period. 69.92% of the stock is currently owned by 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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