Realty Income Corp (NYSE:O) has received an average rating of “Hold” from the sixteen research firms that are covering the company, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $55.92.
O has been the topic of a number of research analyst reports. Morgan Stanley cut Realty Income from an “overweight” rating to an “equal” rating and set a $31.00 price target on the stock. in a report on Monday, October 1st. Zacks Investment Research raised Realty Income from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a report on Friday, October 5th. Mitsubishi UFJ Financial Group raised Realty Income from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $54.00 to $62.00 in a report on Tuesday, July 10th. Janney Montgomery Scott cut Realty Income from a “buy” rating to a “neutral” rating and set a $44.00 price objective on the stock. in a report on Wednesday, August 29th. They noted that the move was a valuation call. Finally, Wells Fargo & Co set a $65.00 price objective on Realty Income and gave the stock a “buy” rating in a report on Tuesday, September 4th.
In related news, COO Sumit Roy sold 18,682 shares of the stock in a transaction on Monday, August 6th. The stock was sold at an average price of $57.49, for a total transaction of $1,074,028.18. Following the sale, the chief operating officer now owns 70,041 shares in the company, valued at approximately $4,026,657.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John Case sold 35,000 shares of the stock in a transaction on Monday, August 6th. The shares were sold at an average price of $57.70, for a total value of $2,019,500.00. Following the sale, the chief executive officer now owns 158,961 shares in the company, valued at approximately $9,172,049.70. The disclosure for this sale can be found here. Insiders have sold a total of 89,067 shares of company stock worth $5,142,150 in the last 90 days. 0.20% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Clarus Wealth Advisors bought a new position in shares of Realty Income during the 2nd quarter worth $114,000. Moody National Bank Trust Division bought a new position in shares of Realty Income during the 3rd quarter worth $136,000. NEXT Financial Group Inc bought a new position in shares of Realty Income during the 3rd quarter worth $172,000. New England Asset Management Inc. bought a new position in shares of Realty Income during the 2nd quarter worth $178,000. Finally, Elmwood Wealth Management Inc. grew its position in shares of Realty Income by 100.0% during the 2nd quarter. Elmwood Wealth Management Inc. now owns 3,392 shares of the real estate investment trust’s stock worth $179,000 after buying an additional 1,696 shares in the last quarter. Institutional investors own 68.34% of the company’s stock.
Shares of NYSE:O opened at $60.27 on Thursday. Realty Income has a 12 month low of $47.25 and a 12 month high of $61.99. The company has a market cap of $17.32 billion, a P/E ratio of 19.70, a PEG ratio of 4.57 and a beta of 0.11. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.87.
Realty Income (NYSE:O) last announced its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.45). Realty Income had a return on equity of 5.05% and a net margin of 25.96%. The firm had revenue of $328.90 million for the quarter, compared to the consensus estimate of $311.95 million. During the same period in the previous year, the firm earned $0.76 EPS. Realty Income’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, analysts anticipate that Realty Income will post 3.18 earnings per share for the current fiscal year.
The business also recently declared a nov 18 dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, November 1st will be issued a dividend of $0.2205 per share. The ex-dividend date is Wednesday, October 31st. This represents a yield of 4.56%. Realty Income’s payout ratio is presently 86.60%.
About Realty Income
Realty Income, The Monthly Dividend Company is an S&P 500 company dedicated to providing stockholders with dependable monthly income. The company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 5,400 real estate properties owned under long-term lease agreements with regional and national commercial tenants.
Further Reading: Balance Sheet
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