Realty Income Corp (NYSE:O) – Equities researchers at Capital One Financial cut their FY2017 earnings per share estimates for Realty Income in a report issued on Wednesday, according to Zacks Investment Research. Capital One Financial analyst C. Lucas now anticipates that the real estate investment trust will post earnings of $2.83 per share for the year, down from their prior estimate of $2.96. Capital One Financial currently has a “Equal Weight” rating on the stock. Capital One Financial also issued estimates for Realty Income’s FY2019 earnings at $3.24 EPS.
Realty Income (NYSE:O) last announced its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.01. Realty Income had a return on equity of 5.11% and a net margin of 29.37%. The company had revenue of $306.90 million during the quarter, compared to analyst estimates of $292.73 million. During the same period in the prior year, the firm posted $0.72 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis.
O has been the subject of several other research reports. Zacks Investment Research downgraded Realty Income from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. UBS raised Realty Income 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 report on Friday, September 8th. Ladenburg Thalmann Financial Services reaffirmed a “hold” rating on shares of Realty Income in a research report on Wednesday, November 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $65.00 target price on shares of Realty Income in a research report on Wednesday, November 1st. Finally, Vetr raised Realty Income from a “hold” rating to a “buy” rating and set a $58.60 target price for the company in a research report on Monday, November 20th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Realty Income presently has a consensus rating of “Hold” and a consensus target price of $64.09.
Shares of Realty Income (O) traded up $0.10 during midday trading on Monday, hitting $56.97. The stock had a trading volume of 2,045,250 shares, compared to its average volume of 1,757,810. Realty Income has a 52 week low of $52.85 and a 52 week high of $63.60. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market capitalization of $16,000.00, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 4.58 and a beta of 0.29.
A number of large investors have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC lifted its holdings in Realty Income by 16.2% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 448,710 shares of the real estate investment trust’s stock worth $25,662,000 after buying an additional 62,446 shares during the last quarter. Chicago Partners Investment Group LLC lifted its holdings in Realty Income by 401.5% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 11,866 shares of the real estate investment trust’s stock worth $679,000 after buying an additional 9,500 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Realty Income by 4.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 144,436 shares of the real estate investment trust’s stock worth $8,260,000 after buying an additional 5,567 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in Realty Income by 79.2% during the 3rd quarter. GSA Capital Partners LLP now owns 13,943 shares of the real estate investment trust’s stock worth $797,000 after buying an additional 6,161 shares during the last quarter. Finally, Moors & Cabot Inc. lifted its holdings in Realty Income by 11.2% during the 3rd quarter. Moors & Cabot Inc. now owns 18,425 shares of the real estate investment trust’s stock worth $1,049,000 after buying an additional 1,860 shares during the last quarter. 70.04% of the stock is currently owned by institutional investors.
In related news, SVP Joel Tomlinson sold 1,746 shares of the stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $56.45, for a total value of $98,561.70. Following the completion of the transaction, the senior vice president now owns 14,913 shares of the company’s stock, valued at $841,838.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory Mclaughlin sold 3,200 shares of the stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $58.85, for a total value of $188,320.00. Following the completion of the transaction, the director now directly owns 15,986 shares of the company’s stock, valued at approximately $940,776.10. The disclosure for this sale can be found here. Insiders sold 10,549 shares of company stock valued at $593,646 in the last three months. 0.30% of the stock is currently owned by company insiders.
The firm also recently declared a jan 17 dividend, which will be paid on Friday, January 12th. Investors of record on Tuesday, January 2nd will be issued a $0.2125 dividend. The ex-dividend date of this dividend is Friday, December 29th. This represents a yield of 4.48%. This is an increase from Realty Income’s previous jan 17 dividend of $0.21. Realty Income’s dividend payout ratio is currently 208.20%.
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About Realty Income
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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