Realty Income Corp (NYSE:O) – Equities research analysts at DA Davidson increased their FY2018 earnings per share estimates for shares of Realty Income in a research note issued on Thursday, November 1st. DA Davidson analyst B. Oxford now anticipates that the real estate investment trust will post earnings of $3.21 per share for the year, up from their prior forecast of $3.18. DA Davidson also issued estimates for Realty Income’s Q4 2018 earnings at $0.81 EPS, Q1 2019 earnings at $0.82 EPS, Q2 2019 earnings at $0.83 EPS, Q3 2019 earnings at $0.84 EPS, Q4 2019 earnings at $0.85 EPS, FY2019 earnings at $3.33 EPS, Q1 2020 earnings at $0.86 EPS, Q2 2020 earnings at $0.86 EPS, Q3 2020 earnings at $0.87 EPS and FY2020 earnings at $3.48 EPS.
Several other research firms have also weighed in on O. Zacks Investment Research lowered Realty Income from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. Bank of America increased their target price on Realty Income from $53.50 to $57.50 and gave the company a “neutral” rating in a research note on Monday, August 13th. Mizuho set a $58.00 target price on Realty Income and gave the company a “hold” rating in a research note on Monday, August 13th. Morgan Stanley lowered Realty Income from an “overweight” rating to an “equal” rating and set a $31.00 target price on the stock. in a research note on Monday, October 1st. Finally, Wells Fargo & Co set a $65.00 price target on Realty Income and gave the stock a “buy” rating in a research report on Tuesday, September 4th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $56.51.
NYSE:O opened at $60.26 on Friday. Realty Income has a 1-year low of $47.25 and a 1-year high of $61.99. The company has a current ratio of 1.20, a quick ratio of 1.28 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $17.48 billion, a price-to-earnings ratio of 19.69, a P/E/G ratio of 4.50 and a beta of -0.01.
Realty Income (NYSE:O) last issued its quarterly earnings results on Wednesday, October 31st. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. Realty Income had a return on equity of 5.17% and a net margin of 26.19%. The business had revenue of $338.08 million for the quarter, compared to analyst estimates of $319.60 million. During the same quarter in the prior year, the firm posted $0.77 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year.
The business also recently declared a nov 18 dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st will be paid a $0.2205 dividend. The ex-dividend date of this dividend is Wednesday, October 31st. This represents a yield of 4.56%. Realty Income’s dividend payout ratio is 86.60%.
In other Realty Income news, EVP Michael R. Pfeiffer sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $57.63, for a total value of $576,300.00. Following the completion of the transaction, the executive vice president now directly owns 37,655 shares in the company, valued at $2,170,057.65. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director A. Larry Chapman sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $58.56, for a total value of $527,040.00. Following the completion of the transaction, the director now owns 18,757 shares of the company’s stock, valued at $1,098,409.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,067 shares of company stock valued at $5,142,150. Corporate insiders own 0.20% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Private Trust Co. NA acquired a new stake in Realty Income during the 2nd quarter worth approximately $242,000. Clarus Wealth Advisors acquired a new stake in Realty Income during the 2nd quarter worth approximately $114,000. Gulf International Bank UK Ltd lifted its holdings in Realty Income by 2.2% during the 2nd quarter. Gulf International Bank UK Ltd now owns 90,922 shares of the real estate investment trust’s stock worth $4,890,000 after purchasing an additional 2,000 shares during the last quarter. DnB Asset Management AS lifted its holdings in Realty Income by 4.8% during the 2nd quarter. DnB Asset Management AS now owns 32,700 shares of the real estate investment trust’s stock worth $1,759,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Clinton Group Inc. acquired a new stake in Realty Income during the 2nd quarter worth approximately $287,000. Institutional investors own 68.34% of the company’s stock.
About Realty Income
Realty Income, The Monthly Dividend Company is an S&P 500 company dedicated to providing stockholders with dependable monthly income. The company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 5,400 real estate properties owned under long-term lease agreements with regional and national commercial tenants.
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