Realty Income Corp. (O) Upgraded to “Buy” at Vetr Inc.
Vetr upgraded shares of Realty Income Corp. (NYSE:O) from a hold rating to a buy rating in a report published on Saturday morning.
O has been the topic of several other research reports. Wunderlich lifted their price objective on Realty Income Corp. from $53.00 to $60.00 and gave the stock a sell rating in a report on Monday, August 1st. Oppenheimer Holdings Inc. lifted their price objective on Realty Income Corp. from $66.00 to $78.00 and gave the stock an outperform rating in a report on Thursday, July 28th. Zacks Investment Research lowered Realty Income Corp. from a buy rating to a hold rating in a report on Tuesday, August 2nd. BTIG Research assumed coverage on Realty Income Corp. in a report on Thursday, August 25th. They set a neutral rating on the stock. Finally, Royal Bank Of Canada boosted their price target on Realty Income Corp. from $58.00 to $66.00 and gave the company a sector perform rating in a research note on Monday, August 1st. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $63.32.
Realty Income Corp. (NYSE:O) opened at 61.46 on Friday. The stock’s 50 day moving average price is $65.90 and its 200-day moving average price is $65.12. The firm has a market capitalization of $15.89 billion, a price-to-earnings ratio of 56.39 and a beta of 0.33. Realty Income Corp. has a one year low of $45.98 and a one year high of $72.30.
Realty Income Corp. (NYSE:O) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by $0.02. The business earned $260.06 million during the quarter, compared to the consensus estimate of $274.34 million. Realty Income Corp. had a return on equity of 5.08% and a net margin of 27.95%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 earnings per share. On average, equities research analysts anticipate that Realty Income Corp. will post $2.85 earnings per share for the current fiscal year.
The company also recently announced a oct 16 dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be given a dividend of $0.202 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a dividend yield of 3.77%. This is an increase from Realty Income Corp.’s previous oct 16 dividend of $0.20. Realty Income Corp.’s payout ratio is presently 222.02%.
In other news, Director Kathleen Allen sold 4,000 shares of the business’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $70.49, for a total transaction of $281,960.00. Following the completion of the sale, the director now owns 74,000 shares in the company, valued at $5,216,260. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ronald Merriman sold 2,500 shares of the business’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $66.68, for a total value of $166,700.00. Following the sale, the director now owns 12,075 shares of the company’s stock, valued at approximately $805,161. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Eqis Capital Management Inc. increased its stake in Realty Income Corp. by 21.7% in the third quarter. Eqis Capital Management Inc. now owns 6,203 shares of the company’s stock worth $415,000 after buying an additional 1,104 shares during the last quarter. Evercore Wealth Management LLC increased its stake in Realty Income Corp. by 16.9% in the second quarter. Evercore Wealth Management LLC now owns 5,430 shares of the company’s stock worth $377,000 after buying an additional 784 shares in the last quarter. Macquarie Group Ltd. increased its stake in Realty Income Corp. by 0.5% in the second quarter. Macquarie Group Ltd. now owns 66,036 shares of the company’s stock worth $4,580,000 after buying an additional 300 shares in the last quarter. Carnick & Kubik Group LLC bought a new stake in Realty Income Corp. during the second quarter worth approximately $2,248,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Realty Income Corp. during the second quarter worth approximately $721,000. Institutional investors own 70.99% of the company’s stock.
About Realty Income Corp.
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.
To view Vetr’s full report, visit Vetr’s official website.
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