Raymond James Financial upgraded shares of Realty Income (NYSE:O) from an underperform rating to a market perform rating in a research report report published on Wednesday, December 20th, Marketbeat reports.
A number of other research firms have also recently commented on O. Citigroup upgraded Realty Income to a market perform rating in a research report on Wednesday, December 20th. They noted that the move was a valuation call. B. Riley set a $56.00 price objective on Realty Income and gave the company a hold rating in a research report on Monday, December 4th. Vetr upgraded Realty Income from a hold rating to a buy rating and set a $58.60 price objective for the company in a research report on Monday, November 20th. Stifel Nicolaus reiterated a buy rating and set a $65.00 price target on shares of Realty Income in a research report on Wednesday, November 1st. Finally, Ladenburg Thalmann Financial Services reiterated a hold rating on shares of Realty Income in a research report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. Realty Income presently has a consensus rating of Hold and a consensus price target of $64.09.
Realty Income (NYSE O) traded up $0.22 on Wednesday, reaching $53.28. The company’s stock had a trading volume of 2,239,341 shares, compared to its average volume of 1,880,000. 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 $15,010.00, a price-to-earnings ratio of 43.67, a PEG ratio of 4.21 and a beta of 0.29. Realty Income has a 52 week low of $52.80 and a 52 week high of $63.60.
Realty Income (NYSE:O) last issued its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the 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 business had revenue of $306.90 million during the quarter, compared to the consensus estimate of $292.73 million. During the same quarter last year, the company earned $0.72 earnings per share. The company’s quarterly revenue was up 10.8% on a year-over-year basis. research analysts predict that Realty Income will post 2.91 earnings per share for the current fiscal year.
The firm also recently declared a jan 17 dividend, which will be paid on Friday, January 12th. Stockholders of record on Tuesday, January 2nd will be paid a $0.2125 dividend. This represents a dividend yield of 4.48%. The ex-dividend date is Friday, December 29th. This is a positive change from Realty Income’s previous jan 17 dividend of $0.21. Realty Income’s dividend payout ratio is 209.02%.
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 transaction of $98,561.70. Following the transaction, the senior vice president now owns 14,913 shares of the company’s stock, valued at approximately $841,838.85. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Paul M. Meurer sold 5,603 shares of the company’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $54.75, for a total value of $306,764.25. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Realty Income by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 46,814,575 shares of the real estate investment trust’s stock valued at $2,583,229,000 after acquiring an additional 834,811 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Realty Income by 3.9% in the 2nd quarter. BlackRock Inc. now owns 27,144,544 shares of the real estate investment trust’s stock valued at $1,497,836,000 after acquiring an additional 1,024,539 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Realty Income by 3.6% in the 2nd quarter. Northern Trust Corp now owns 4,718,094 shares of the real estate investment trust’s stock valued at $260,344,000 after acquiring an additional 164,326 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Realty Income by 10.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,436,861 shares of the real estate investment trust’s stock valued at $256,540,000 after acquiring an additional 437,803 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Realty Income by 8.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,345,915 shares of the real estate investment trust’s stock valued at $248,543,000 after acquiring an additional 322,239 shares during the last quarter. Institutional investors own 69.92% of the company’s stock.
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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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