Zacks: Brokerages Anticipate Realty Income Corporation (O) Will Announce Quarterly Sales of $298.97 Million
Equities research analysts expect that Realty Income Corporation (NYSE:O) will report sales of $298.97 million for the current quarter, Zacks reports. Seven analysts have made estimates for Realty Income Corporation’s earnings. The highest sales estimate is $311.32 million and the lowest is $287.31 million. Realty Income Corporation posted sales of $277.17 million in the same quarter last year, which suggests a positive year over year growth rate of 7.9%. The firm is expected to report its next earnings report after the market closes on Wednesday, October 25th.
According to Zacks, analysts expect that Realty Income Corporation will report full year sales of $298.97 million for the current fiscal year, with estimates ranging from $1.15 billion to $1.23 billion. For the next fiscal year, analysts forecast that the business will post sales of $1.27 billion per share, with estimates ranging from $1.17 billion to $1.34 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Realty Income Corporation.
Realty Income Corporation (NYSE:O) last released its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.76 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.76. Realty Income Corporation had a net margin of 29.19% and a return on equity of 5.14%. The company had revenue of $300.20 million during the quarter, compared to the consensus estimate of $289.86 million. During the same period last year, the firm earned $0.70 EPS. Realty Income Corporation’s revenue for the quarter was up 10.8% on a year-over-year basis.
O has been the subject of a number of research reports. Canaccord Genuity initiated coverage on shares of Realty Income Corporation in a research report on Tuesday, July 18th. They set a “buy” rating and a $61.00 target price for the company. Stifel Nicolaus reissued a “buy” rating and issued a $65.00 target price on shares of Realty Income Corporation in a research note on Friday, July 14th. BidaskClub raised shares of Realty Income Corporation from a “sell” rating to a “hold” rating in a research note on Sunday, July 16th. Ladenburg Thalmann Financial Services reissued a “hold” rating on shares of Realty Income Corporation in a research note on Thursday, July 27th. Finally, FBR & Co assumed coverage on shares of Realty Income Corporation in a research note on Monday, July 17th. They issued a “market perform” rating and a $56.00 target price on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Realty Income Corporation currently has an average rating of “Hold” and a consensus target price of $64.27.
In other Realty Income Corporation news, Director Gregory Mclaughlin sold 3,200 shares of Realty Income Corporation stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $58.85, for a total transaction of $188,320.00. Following the sale, the director now owns 15,986 shares of the company’s stock, valued at approximately $940,776.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.30% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Bank of America Corp DE raised its holdings in Realty Income Corporation by 12.2% in the 1st quarter. Bank of America Corp DE now owns 2,197,976 shares of the real estate investment trust’s stock valued at $130,845,000 after buying an additional 239,764 shares during the period. Lockheed Martin Investment Management Co. increased its stake in Realty Income Corporation by 167.5% during the second quarter. Lockheed Martin Investment Management Co. now owns 52,700 shares of the real estate investment trust’s stock worth $2,908,000 after purchasing an additional 33,000 shares during the period. Ameriprise Financial Inc. increased its stake in Realty Income Corporation by 3.5% during the second quarter. Ameriprise Financial Inc. now owns 2,270,081 shares of the real estate investment trust’s stock worth $124,609,000 after purchasing an additional 76,311 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Realty Income Corporation by 20.6% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 65,936 shares of the real estate investment trust’s stock worth $3,638,000 after purchasing an additional 11,241 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Realty Income Corporation by 92.8% during the second quarter. Principal Financial Group Inc. now owns 790,148 shares of the real estate investment trust’s stock worth $43,600,000 after purchasing an additional 380,379 shares during the period. 68.98% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Realty Income Corporation (NYSE:O) traded down 0.96% on Friday, reaching $56.48. 2,045,214 shares of the company’s stock traded hands. The stock has a market cap of $15.48 billion, a price-to-earnings ratio of 48.31 and a beta of 0.32. The firm’s 50-day moving average is $57.97 and its 200-day moving average is $57.34. Realty Income Corporation has a 52-week low of $52.72 and a 52-week high of $63.60.
The business also recently declared a oct 17 dividend, which will be paid on Friday, October 13th. Investors of record on Monday, October 2nd will be issued a $0.212 dividend. This represents a yield of 4.33%. The ex-dividend date is Friday, September 29th. This is a positive change from Realty Income Corporation’s previous oct 17 dividend of $0.21. Realty Income Corporation’s payout ratio is presently 217.09%.
About Realty Income Corporation
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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