Realty Income Corp. (O) Earns Neutral Rating from Analysts at Mizuho
A number of other brokerages also recently weighed in on O. Citigroup Inc. boosted their price target on Realty Income Corp. from $50.00 to $60.00 and gave the company a sell rating in a report on Thursday, July 7th. RBC Capital Markets restated a sector perform rating and set a $66.00 price objective (up previously 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 price objective for the company. in a research report on Monday, June 27th. Stifel Nicolaus boosted their price objective on Realty Income Corp. from $66.00 to $73.00 and gave the company a buy rating in a research report on Thursday, July 28th. Finally, Zacks Investment Research upgraded Realty Income Corp. from a hold rating to a buy rating and set a $79.00 price objective for the company in a research report on Wednesday, July 27th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $62.80.
Realty Income Corp. (NYSE:O) opened at 62.65 on Thursday. Realty Income Corp. has a 12 month low of $45.98 and a 12 month high of $72.30. The stock has a 50 day moving average price of $65.09 and a 200-day moving average price of $65.15. The stock has a market cap of $16.20 billion, a PE ratio of 57.48 and a beta of 0.33.
Realty Income Corp. (NYSE:O) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.72 by $0.02. Realty Income Corp. had a net margin of 27.95% and a return on equity of 5.08%. The firm earned $260.06 million during the quarter, compared to the consensus estimate of $274.34 million. During the same quarter last year, the firm posted $0.69 earnings per share. Realty Income Corp.’s revenue was up 7.7% compared to the same quarter last year. On average, analysts expect that Realty Income Corp. will post $2.85 EPS for the current year.
The company also recently disclosed a nov 16 dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 1st will be paid a $0.202 dividend. This represents a dividend yield of 3.93%. The ex-dividend date of this dividend is Friday, October 28th. Realty Income Corp.’s dividend payout ratio is presently 222.02%.
In other news, 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 transaction of $166,700.00. Following the sale, the director now directly owns 12,075 shares of the company’s stock, valued at $805,161. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $281,960.00. Following the sale, the director now directly owns 74,000 shares in the company, valued at $5,216,260. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the company. Gateway Advisory LLC raised its position in Realty Income Corp. by 4.3% in the third quarter. Gateway Advisory LLC now owns 25,867 shares of the company’s stock valued at $1,647,000 after buying an additional 1,062 shares during the last quarter. Reliance Trust Co. of Delaware acquired a new position in Realty Income Corp. during the third quarter valued at $317,000. National Pension Service raised its position in Realty Income Corp. by 9.0% in the third quarter. National Pension Service now owns 199,226 shares of the company’s stock valued at $13,334,000 after buying an additional 16,428 shares during the last quarter. W.G. Shaheen & Associates DBA Whitney & Co acquired a new position in Realty Income Corp. during the third quarter valued at $264,000. Finally, MSI Financial Services Inc raised its position in Realty Income Corp. by 88.6% in the third quarter. MSI Financial Services Inc now owns 64,808 shares of the company’s stock valued at $4,337,000 after buying an additional 30,454 shares during the last quarter. 70.96% of the stock is currently owned by institutional investors.
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.
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