Equities analysts forecast that Realty Income Corp (NYSE:O) will post sales of $307.31 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Realty Income’s earnings, with the highest sales estimate coming in at $318.63 million and the lowest estimate coming in at $294.34 million. Realty Income reported sales of $287.84 million during the same quarter last year, which indicates a positive year over year growth rate of 6.8%. The company is scheduled to report its next quarterly earnings results after the market closes on Wednesday, February 21st.
According to Zacks, analysts expect that Realty Income will report full-year sales of $307.31 million for the current year, with estimates ranging from $1.16 billion to $1.22 billion. For the next year, analysts forecast that the company will post sales of $1.28 billion per share, with estimates ranging from $1.19 billion to $1.33 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Realty Income.
Several research analysts recently issued reports on the stock. B. Riley reiterated a “neutral” rating on shares of Realty Income in a research report on Wednesday, November 1st. Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of Realty Income in a research report on Thursday, October 26th. Vetr upgraded shares of Realty Income from a “hold” rating to a “buy” rating and set a $58.60 target price for the company in a research report on Monday, November 20th. Capital One Financial reiterated an “equal weight” rating on shares of Realty Income in a research report on Wednesday, October 25th. Finally, Zacks Investment Research lowered shares of Realty Income from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. Realty Income presently has an average rating of “Hold” and a consensus price target of $64.09.
The business also recently announced a feb 18 dividend, which will be paid on Thursday, February 15th. Investors of record on Thursday, February 1st will be given a $0.219 dividend. The ex-dividend date is Wednesday, January 31st. This is a positive change from Realty Income’s previous feb 18 dividend of $0.21. This represents a yield of 0.00413675859463544%. Realty Income’s payout ratio is 215.57%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its position in Realty Income by 3.8% during the fourth quarter. BlackRock Inc. now owns 29,151,833 shares of the real estate investment trust’s stock valued at $1,662,238,000 after buying an additional 1,054,431 shares during the period. JPMorgan Chase & Co. raised its stake 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 acquiring an additional 437,803 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Realty Income by 8.0% during the third quarter. Bank of New York Mellon Corp now owns 4,345,915 shares of the real estate investment trust’s stock valued at $248,543,000 after acquiring an additional 322,239 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Realty Income by 2.2% during the third quarter. Dimensional Fund Advisors LP now owns 3,774,476 shares of the real estate investment trust’s stock valued at $215,866,000 after acquiring an additional 81,691 shares during the last quarter. Finally, APG Asset Management US Inc. raised its stake in shares of Realty Income by 36.5% during the fourth quarter. APG Asset Management US Inc. now owns 2,882,000 shares of the real estate investment trust’s stock valued at $164,332,000 after acquiring an additional 770,700 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.
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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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