Shares of Realty Income Corp (NYSE:O) have been assigned an average recommendation of “Hold” from the sixteen ratings firms that are currently covering the firm, Marketbeat reports. Nine investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $56.26.
A number of research firms have recently issued reports on O. Royal Bank of Canada lifted their price objective on shares of Realty Income from $57.00 to $60.00 and gave the company a “sector perform” rating in a report on Tuesday. Mizuho set a $58.00 price objective on shares of Realty Income and gave the company a “hold” rating in a report on Monday, August 13th. ValuEngine upgraded shares of Realty Income from a “hold” rating to a “buy” rating in a report on Tuesday, October 23rd. Bank of America lifted their price objective on shares of Realty Income from $53.50 to $57.50 and gave the company a “neutral” rating in a report on Monday, August 13th. Finally, Zacks Investment Research downgraded shares of Realty Income from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st.
In related news, Director A. Larry Chapman sold 9,000 shares of the firm’s stock in a transaction 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 directly owns 18,757 shares of the company’s stock, valued at $1,098,409.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gregory Mclaughlin sold 3,100 shares of the firm’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $58.00, for a total transaction of $179,800.00. Following the completion of the transaction, the director now directly owns 16,886 shares of the company’s stock, valued at $979,388. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the stock. Clarus Wealth Advisors bought a new position in Realty Income during the second quarter worth $114,000. Moody National Bank Trust Division bought a new position in Realty Income during the third quarter worth $136,000. NEXT Financial Group Inc bought a new position in Realty Income during the third quarter worth $172,000. New England Asset Management Inc. bought a new position in Realty Income during the second quarter worth $178,000. Finally, Piedmont Investment Advisors LLC bought a new position in Realty Income during the second quarter worth $179,000. 68.44% of the stock is owned by institutional investors and hedge funds.
O stock traded up $0.09 during mid-day trading on Thursday, hitting $61.56. 1,854,622 shares of the company were exchanged, compared to its average volume of 2,651,710. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.20 and a current ratio of 1.20. The company has a market capitalization of $17.48 billion, a P/E ratio of 20.12, a price-to-earnings-growth ratio of 4.50 and a beta of -0.01. Realty Income has a 1-year low of $47.25 and a 1-year high of $61.99.
Realty Income (NYSE:O) last announced its earnings results on Wednesday, October 31st. The real estate investment trust reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. The firm had revenue of $338.08 million for the quarter, compared to the consensus estimate of $319.60 million. Realty Income had a net margin of 26.19% and a return on equity of 5.17%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the company posted $0.77 EPS. Analysts forecast that Realty Income will post 3.17 earnings per share for the current year.
The firm also recently disclosed a nov 18 dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be issued a $0.2205 dividend. The ex-dividend date of this dividend is Wednesday, October 31st. This represents a dividend yield of 4.56%. Realty Income’s dividend payout ratio (DPR) is presently 86.60%.
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.
See Also: Dividend Aristocrat Index
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