Realty Income (NYSE:O) Stock Rating Upgraded by Citigroup

Realty Income (NYSE:O) was upgraded by equities research analysts at Citigroup from a “neutral” rating to a “buy” rating in a report issued on Thursday, MarketBeat.com reports. The firm currently has a $87.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $78.00. Citigroup‘s price objective indicates a potential upside of 20.00% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. Stifel Nicolaus boosted their price target on shares of Realty Income from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Royal Bank of Canada set a $75.00 price target on shares of Realty Income and gave the stock a “hold” rating in a report on Friday, October 18th. Deutsche Bank began coverage on shares of Realty Income in a report on Tuesday, August 27th. They issued a “hold” rating and a $73.00 price target on the stock. Standpoint Research increased their price target on shares of Realty Income to $83.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Finally, Zacks Investment Research raised shares of Realty Income from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a report on Tuesday, October 15th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $81.89.

Shares of Realty Income stock opened at $72.50 on Thursday. Realty Income has a fifty-two week low of $59.93 and a fifty-two week high of $82.17. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.45 and a quick ratio of 2.45. The firm has a market capitalization of $24.31 billion, a P/E ratio of 22.88, a P/E/G ratio of 6.02 and a beta of 0.01. The company’s 50 day moving average price is $77.57 and its two-hundred day moving average price is $74.18.

Realty Income (NYSE:O) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.51). Realty Income had a return on equity of 4.61% and a net margin of 27.30%. The business had revenue of $374.20 million for the quarter, compared to analyst estimates of $369.86 million. During the same quarter last year, the firm posted $0.34 EPS. Realty Income’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, analysts expect that Realty Income will post 3.27 earnings per share for the current year.

Several large investors have recently modified their holdings of the stock. Nuveen Asset Management LLC boosted its holdings in Realty Income by 437.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,960,078 shares of the real estate investment trust’s stock valued at $342,096,000 after acquiring an additional 4,036,826 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Realty Income by 147.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 4,892,536 shares of the real estate investment trust’s stock valued at $375,159,000 after acquiring an additional 2,915,287 shares during the period. Vanguard Group Inc. boosted its holdings in Realty Income by 4.2% during the 2nd quarter. Vanguard Group Inc. now owns 50,385,673 shares of the real estate investment trust’s stock valued at $3,475,100,000 after acquiring an additional 2,012,975 shares during the period. State Street Corp boosted its holdings in Realty Income by 3.2% during the 3rd quarter. State Street Corp now owns 23,613,269 shares of the real estate investment trust’s stock valued at $1,815,967,000 after acquiring an additional 732,888 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in Realty Income by 26.4% during the 2nd quarter. California Public Employees Retirement System now owns 2,199,550 shares of the real estate investment trust’s stock valued at $151,703,000 after acquiring an additional 459,043 shares during the period. 73.99% of the stock is owned by hedge funds and other institutional investors.

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 5,700 real estate properties owned under long-term lease agreements with regional and national commercial tenants.

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Analyst Recommendations for Realty Income (NYSE:O)

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