Realty Income Corp. (O) Sees Large Volume Increase
Realty Income Corp. (NYSE:O) shares saw unusually-high trading volume on Wednesday . Approximately 2,775,134 shares traded hands during trading, an increase of 116% from the previous session’s volume of 1,286,273 shares.The stock last traded at $65.73 and had previously closed at $65.44.
O has been the topic of several analyst reports. Citigroup Inc. increased their target price on Realty Income Corp. from $50.00 to $60.00 and gave the stock a “sell” rating in a research report on Thursday, July 7th. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $66.00 target price (up from $58.00) on shares of Realty Income Corp. in a research report on Monday, August 1st. Vetr lowered Realty Income Corp. from a “sell” rating to a “strong sell” rating and set a $58.50 target price on the stock. in a research report on Monday, June 27th. Stifel Nicolaus increased their target price on Realty Income Corp. from $66.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Finally, Zacks Investment Research raised Realty Income Corp. from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research report on Wednesday, July 27th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Realty Income Corp. has an average rating of “Hold” and an average price target of $65.14.
The firm’s 50-day moving average is $68.75 and its 200 day moving average is $64.02. The stock has a market capitalization of $17.00 billion and a price-to-earnings ratio of 60.30.
Realty Income Corp. (NYSE:O) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by $0.02. The firm earned $260.06 million during the quarter, compared to the consensus estimate of $274.34 million. During the same quarter in the previous year, the firm earned $0.69 earnings per share. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities analysts forecast that Realty Income Corp. will post $2.85 EPS for the current fiscal year.
The company also recently disclosed a sep 16 dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be issued a dividend of $0.2015 per share. This represents a dividend yield of 3.42%. This is a positive change from Realty Income Corp.’s previous sep 16 dividend of $0.20. The ex-dividend date of this dividend is Tuesday, August 30th.
In related news, Director Gregory Mclaughlin sold 1,950 shares of the business’s stock in a transaction on Wednesday, June 15th. The stock was sold at an average price of $63.87, for a total value of $124,546.50. Following the sale, the director now owns 18,936 shares of the company’s stock, valued at approximately $1,209,442.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Benjamin N. Fox sold 2,174 shares of the business’s stock in a transaction on Friday, June 24th. The shares were sold at an average price of $65.79, for a total value of $143,027.46. Following the completion of the sale, the senior vice president now directly owns 12,130 shares in the company, valued at approximately $798,032.70. The disclosure for this sale can be found here.
A number of hedge funds recently made changes to their positions in O. American International Group Inc. increased its position in shares of Realty Income Corp. by 7.2% in the fourth quarter. American International Group Inc. now owns 297,250 shares of the company’s stock valued at $15,346,000 after buying an additional 19,946 shares during the last quarter. BlackRock Advisors LLC increased its position in shares of Realty Income Corp. by 51.0% in the fourth quarter. BlackRock Advisors LLC now owns 275,873 shares of the company’s stock valued at $14,243,000 after buying an additional 93,127 shares during the last quarter. Finally, KBC Group NV increased its position in shares of Realty Income Corp. by 15.0% in the fourth quarter. KBC Group NV now owns 68,365 shares of the company’s stock valued at $3,530,000 after buying an additional 8,921 shares during the last quarter.
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. Its portfolio includes approximately 4,540 properties, of which over 4,519 are single-tenant properties, and the remaining are multi-tenant properties.