Realty Income Corp (NYSE:O) – Investment analysts at B. Riley cut their FY2017 earnings estimates for shares of Realty Income in a research report issued on Tuesday, Zacks Investment Research reports. B. Riley analyst D. Corak now forecasts that the real estate investment trust will post earnings per share of $2.83 for the year, down from their previous forecast of $2.98. B. Riley has a “Hold” rating and a $56.00 price target on the stock. B. Riley also issued estimates for Realty Income’s Q4 2017 earnings at $0.61 EPS.
Realty Income (NYSE:O) last posted its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.32 EPS 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 firm had revenue of $306.90 million for 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 business’s revenue for the quarter was up 10.8% compared to the same quarter last year.
Several other research firms also recently commented on O. Raymond James Financial raised Realty Income from an “underperform” rating to a “market perform” rating in a research note on Wednesday, December 20th. Citigroup raised Realty Income to a “market perform” rating in a research note on Wednesday, December 20th. They noted that the move was a valuation call. Vetr raised Realty Income from a “hold” rating to a “buy” rating and set a $58.60 target price on the stock in a research note on Thursday, October 19th. Zacks Investment Research downgraded Realty Income from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Finally, Ladenburg Thalmann Financial Services reissued a “hold” rating on shares of Realty Income in a research note on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $64.09.
Realty Income (NYSE O) opened at $53.28 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.26 and a quick ratio of 1.26. Realty Income has a 12 month low of $52.80 and a 12 month high of $63.60. The company has a market capitalization of $15,010.00, a PE ratio of 43.67, a PEG ratio of 4.21 and a beta of 0.29.
The business also recently announced a jan 17 dividend, which will be paid on Friday, January 12th. Stockholders of record on Tuesday, January 2nd will be issued a $0.2125 dividend. This is a boost from Realty Income’s previous jan 17 dividend of $0.21. The ex-dividend date of this dividend is Friday, December 29th. This represents a dividend yield of 4.48%. Realty Income’s payout ratio is 209.02%.
In related news, CFO Paul M. Meurer sold 5,603 shares of the business’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Joel Tomlinson sold 1,746 shares of the business’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 approximately $841,838.85. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. raised its position in shares of Realty Income by 8.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 959,540 shares of the real estate investment trust’s stock worth $52,948,000 after acquiring an additional 75,982 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Realty Income by 0.9% in the 2nd quarter. Prudential Financial Inc. now owns 402,584 shares of the real estate investment trust’s stock worth $22,215,000 after acquiring an additional 3,630 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Realty Income by 8.5% in the 2nd quarter. Pacer Advisors Inc. now owns 4,900 shares of the real estate investment trust’s stock worth $270,000 after acquiring an additional 384 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Realty Income by 92.8% in the 2nd quarter. Principal Financial Group Inc. now owns 790,148 shares of the real estate investment trust’s stock worth $43,600,000 after acquiring an additional 380,379 shares in the last quarter. Finally, Commerce Bank raised its position in shares of Realty Income by 33.2% in the 2nd quarter. Commerce Bank now owns 5,708 shares of the real estate investment trust’s stock worth $315,000 after acquiring an additional 1,422 shares in 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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