Vetr downgraded shares of Realty Income Corporation (NYSE:O) from a buy rating to a hold rating in a research note released on Monday morning. The firm currently has $58.60 target price on the real estate investment trust’s stock.
Several other analysts have also issued reports on the company. Zacks Investment Research lowered Realty Income Corporation from a hold rating to a sell rating in a research note on Wednesday, October 25th. UBS AG raised Realty Income Corporation from a sell rating to a neutral rating and upped their target price for the stock from $52.00 to $57.00 in a research note on Friday, September 8th. Ladenburg Thalmann Financial Services reaffirmed a hold rating on shares of Realty Income Corporation in a research note on Wednesday, November 1st. Morgan Stanley upped their target price on Realty Income Corporation from $91.00 to $95.00 and gave the stock an overweight rating in a research note on Monday, July 17th. Finally, Stifel Nicolaus reaffirmed a buy rating and issued a $65.00 target price on shares of Realty Income Corporation in a research note on Wednesday, November 1st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. Realty Income Corporation presently has a consensus rating of Hold and a consensus price target of $65.43.
Shares of Realty Income Corporation (NYSE O) opened at $56.57 on Monday. Realty Income Corporation has a 52-week low of $52.85 and a 52-week high of $63.60. The firm has a market capitalization of $15,910.00, a PE ratio of 18.46, a PEG ratio of 4.60 and a beta of 0.28. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.78.
Realty Income Corporation (NYSE:O) last posted its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The company had revenue of $306.90 million for the quarter, compared to analysts’ expectations of $292.73 million. Realty Income Corporation had a net margin of 29.37% and a return on equity of 5.11%. Realty Income Corporation’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.72 earnings per share. sell-side analysts predict that Realty Income Corporation will post 3 EPS for the current year.
The company also recently disclosed a dec 17 dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a $0.212 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a yield of 4.49%. Realty Income Corporation’s dividend payout ratio (DPR) is 208.20%.
In other news, CFO Paul M. Meurer sold 5,603 shares of the firm’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $54.75, for a total transaction of $306,764.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Joel Tomlinson sold 1,746 shares of the firm’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $56.45, for a total value of $98,561.70. Following the transaction, the senior vice president now owns 14,913 shares of the company’s stock, valued at $841,838.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,549 shares of company stock valued at $593,646. 0.30% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Moors & Cabot Inc. boosted its position in shares of Realty Income Corporation by 11.2% during the third quarter. Moors & Cabot Inc. now owns 18,425 shares of the real estate investment trust’s stock valued at $1,049,000 after buying an additional 1,860 shares during the last quarter. IFM Investors Pty Ltd purchased a new stake in shares of Realty Income Corporation during the third quarter valued at $444,000. Wealthcare Advisory Partners LLC purchased a new stake in shares of Realty Income Corporation during the third quarter valued at $130,000. Ameritas Investment Partners Inc. boosted its position in shares of Realty Income Corporation by 6.6% during the third quarter. Ameritas Investment Partners Inc. now owns 17,881 shares of the real estate investment trust’s stock valued at $1,024,000 after buying an additional 1,100 shares during the last quarter. Finally, Griffin Asset Management Inc. purchased a new stake in shares of Realty Income Corporation during the third quarter valued at $824,000. Hedge funds and other institutional investors own 67.20% of the company’s stock.
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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