Realty Income Corp (NYSE:O) has been given an average recommendation of “Hold” by the twelve research firms that are presently covering the firm. Three research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $64.67.
O has been the subject of several research reports. Zacks Investment Research cut Realty Income Corp from a “buy” rating to a “hold” rating in a report on Thursday, January 12th. Raymond James Financial, Inc. reissued an “underperform” rating on shares of Realty Income Corp in a research report on Monday, January 9th.
Shares of Realty Income Corp (NYSE:O) opened at 55.78 on Friday. Realty Income Corp has a 52-week low of $52.72 and a 52-week high of $72.29. The company’s 50-day moving average is $59.86 and its 200 day moving average is $58.80. The firm has a market capitalization of $15.23 billion, a P/E ratio of 48.59 and a beta of 0.37.
Realty Income Corp (NYSE:O) last posted its quarterly earnings data on Tuesday, April 25th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.01. Realty Income Corp had a return on equity of 5.04% and a net margin of 28.37%. The company earned $298.03 million during the quarter, compared to analysts’ expectations of $281.11 million. During the same quarter in the previous year, the business earned $0.70 EPS. Realty Income Corp’s revenue was up 11.6% compared to the same quarter last year. Analysts expect that Realty Income Corp will post $1.24 EPS for the current fiscal year.
The company also recently disclosed a may 17 dividend, which will be paid on Monday, May 15th. Stockholders of record on Monday, May 1st will be issued a $0.211 dividend. This represents a dividend yield of 4.13%. The ex-dividend date is Thursday, April 27th. Realty Income Corp’s dividend payout ratio is presently 230.00%.
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In other Realty Income Corp news, CFO Paul M. Meurer sold 16,500 shares of the stock in a transaction that occurred on Tuesday, March 21st. The stock was sold at an average price of $60.00, for a total transaction of $990,000.00. Following the transaction, the chief financial officer now owns 53,662 shares in the company, valued at $3,219,720. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Case sold 28,000 shares of the stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $59.78, for a total value of $1,673,840.00. Following the transaction, the chief executive officer now owns 195,051 shares in the company, valued at approximately $11,660,148.78. The disclosure for this sale can be found here. Insiders sold 77,241 shares of company stock worth $4,617,465 over the last three months. Corporate insiders own 0.30% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. PGGM Investments increased its position in shares of Realty Income Corp by 71.7% in the third quarter. PGGM Investments now owns 2,993,289 shares of the real estate investment trust’s stock worth $200,341,000 after buying an additional 1,250,120 shares in the last quarter. Trust Co. of Vermont boosted its position in shares of Realty Income Corp by 2.2% in the third quarter. Trust Co. of Vermont now owns 131,913 shares of the real estate investment trust’s stock worth $8,828,000 after buying an additional 2,842 shares during the last quarter. GWM Advisors LLC boosted its position in shares of Realty Income Corp by 11.6% in the third quarter. GWM Advisors LLC now owns 44,813 shares of the real estate investment trust’s stock worth $2,854,000 after buying an additional 4,653 shares during the last quarter. Nationwide Fund Advisors boosted its position in shares of Realty Income Corp by 2.1% in the third quarter. Nationwide Fund Advisors now owns 72,978 shares of the real estate investment trust’s stock worth $4,884,000 after buying an additional 1,528 shares during the last quarter. Finally, First Manhattan Co. boosted its position in shares of Realty Income Corp by 43.3% in the third quarter. First Manhattan Co. now owns 27,732 shares of the real estate investment trust’s stock worth $1,856,000 after buying an additional 8,375 shares during the last quarter. Institutional investors own 68.62% of the company’s stock.
Realty Income Corp Company Profile
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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