Realty Income (O) Upgraded by Citigroup to Market Perform

Realty Income (NYSE:O) was upgraded by investment analysts at Citigroup to a “market perform” rating in a report released on Wednesday, December 20th, The Fly reports. The analysts noted that the move was a valuation call.

Several other equities analysts have also issued reports on the company. B. Riley set a $56.00 target price on Realty Income and gave the stock a “hold” rating in a research note on Monday, December 4th. 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 Monday, November 20th. Stifel Nicolaus reissued a “buy” rating and set a $65.00 target price on shares of Realty Income in a research note on Wednesday, November 1st. Ladenburg Thalmann Financial Services reissued a “hold” rating on shares of Realty Income in a research note on Wednesday, November 1st. Finally, Capital One Financial reaffirmed an “equal weight” rating on shares of Realty Income in a research report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. Realty Income currently has an average rating of “Hold” and a consensus price target of $64.09.

Realty Income (NYSE O) traded down $0.55 during midday trading on Wednesday, hitting $52.72. The stock had a trading volume of 2,070,000 shares, compared to its average volume of 1,910,000. The stock has a market cap of $14,860.00, a PE ratio of 43.21, a PEG ratio of 4.04 and a beta of 0.29. 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 has a fifty-two week low of $52.63 and a fifty-two week high of $63.60.

Realty Income (NYSE:O) last released its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $306.90 million during the quarter, compared to analysts’ expectations of $292.73 million. Realty Income had a return on equity of 5.11% and a net margin of 29.37%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 EPS. analysts expect that Realty Income will post 2.9 EPS for the current fiscal year.

In related news, SVP Joel Tomlinson sold 1,746 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $841,838.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Paul M. Meurer sold 5,603 shares of the firm’s stock in a transaction that occurred on 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. 0.30% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in O. BlackRock Inc. grew its stake 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 purchasing an additional 1,024,539 shares during the last quarter. Vanguard Group Inc. grew its stake 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 purchasing an additional 834,811 shares during the last quarter. Standard Life Investments LTD purchased a new position in shares of Realty Income in the 2nd quarter valued at approximately $29,611,000. JPMorgan Chase & Co. grew its stake 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 purchasing an additional 437,803 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake 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 valued at $43,600,000 after purchasing an additional 380,379 shares during the last quarter. Institutional investors own 69.92% of the company’s stock.

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Realty Income 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.

The Fly

Analyst Recommendations for Realty Income (NYSE:O)

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