Zacks: Brokerages Anticipate Realty Income Corp (NYSE:O) to Post $0.83 Earnings Per Share

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Equities research analysts predict that Realty Income Corp (NYSE:O) will post $0.83 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Nine analysts have issued estimates for Realty Income’s earnings. The lowest EPS estimate is $0.82 and the highest is $0.83. Realty Income posted earnings per share of $0.81 in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.5%. The business is expected to issue its next quarterly earnings report after the market closes on Monday, November 4th.

On average, analysts expect that Realty Income will report full year earnings of $3.29 per share for the current fiscal year, with EPS estimates ranging from $3.28 to $3.30. For the next financial year, analysts anticipate that the company will report earnings of $3.52 per share, with EPS estimates ranging from $3.43 to $3.60. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Realty Income.

Realty Income (NYSE:O) last posted its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. The business had revenue of $365.50 million during the quarter, compared to analyst estimates of $344.42 million. Realty Income had a net margin of 27.86% and a return on equity of 4.79%. The company’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.34 earnings per share.

A number of research firms have recently weighed in on O. Morgan Stanley boosted their price objective on shares of Realty Income from $72.00 to $75.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 17th. Standpoint Research boosted their price objective on shares of Realty Income to $83.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Deutsche Bank began coverage on shares of Realty Income in a research report on Tuesday, August 27th. They issued a “hold” rating and a $73.00 price objective for the company. Wells Fargo & Co set a $82.00 price objective on shares of Realty Income and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, Stifel Nicolaus boosted their target price on shares of Realty Income from $75.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $76.70.

In other Realty Income news, CFO Paul M. Meurer sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $75.33, for a total transaction of $753,300.00. Following the completion of the sale, the chief financial officer now directly owns 30,468 shares in the company, valued at $2,295,154.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director A. Larry Chapman sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $75.09, for a total transaction of $600,720.00. Following the sale, the director now owns 14,757 shares of the company’s stock, valued at $1,108,103.13. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Successful Portfolios LLC purchased a new stake in Realty Income during the third quarter worth approximately $279,000. Foster Victor Wealth Advisors LLC grew its stake in Realty Income by 99.2% during the third quarter. Foster Victor Wealth Advisors LLC now owns 35,597 shares of the real estate investment trust’s stock worth $2,770,000 after buying an additional 17,729 shares during the period. Townsend & Associates Inc grew its stake in Realty Income by 2.3% during the third quarter. Townsend & Associates Inc now owns 28,892 shares of the real estate investment trust’s stock worth $2,251,000 after buying an additional 660 shares during the period. Pacer Advisors Inc. grew its stake in Realty Income by 17.5% during the third quarter. Pacer Advisors Inc. now owns 39,620 shares of the real estate investment trust’s stock worth $3,038,000 after buying an additional 5,897 shares during the period. Finally, RB Capital Management LLC grew its stake in Realty Income by 2.9% during the third quarter. RB Capital Management LLC now owns 10,014 shares of the real estate investment trust’s stock worth $779,000 after buying an additional 285 shares during the period. Institutional investors own 70.80% of the company’s stock.

NYSE:O opened at $77.89 on Wednesday. The firm has a 50 day simple moving average of $75.48 and a 200-day simple moving average of $71.89. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market cap of $24.91 billion, a PE ratio of 24.42, a P/E/G ratio of 6.14 and a beta of 0.06. Realty Income has a 1-year low of $55.55 and a 1-year high of $78.97.

The business also recently announced a sep 19 dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a $0.227 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a yield of 3.6%. Realty Income’s payout ratio is 85.27%.

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 5,700 real estate properties owned under long-term lease agreements with regional and national commercial tenants.

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