Realty Income Corp. (NYSE:O) had its target price hoisted by research analysts at Stifel Nicolaus from $66.00 to $73.00 in a research note issued to investors on Thursday. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 13.23% from the stock’s current price.
A number of other equities analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Realty Income Corp. from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a research report on Wednesday, July 27th. Vetr upgraded shares of Realty Income Corp. from a “strong sell” rating to a “hold” rating and set a $71.54 target price for the company in a research report on Tuesday, July 12th. Citigroup Inc. upped their target price on shares of Realty Income Corp. from $50.00 to $60.00 and gave the stock a “sell” rating in a research report on Thursday, July 7th. Finally, Mitsubishi UFJ Financial Group started coverage on shares of Realty Income Corp. in a research report on Tuesday, April 5th. They set a “neutral” rating and a $60.00 target price for the company. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $65.14.
Shares of Realty Income Corp. (NYSE:O) traded up 0.22% during midday trading on Thursday, reaching $64.47. 2,471,765 shares of the company’s stock were exchanged. The stock has a market cap of $16.67 billion, a PE ratio of 59.15 and a beta of 0.39. The stock’s 50 day moving average is $67.75 and its 200-day moving average is $64.41. Realty Income Corp. has a 12-month low of $45.60 and a 12-month high of $72.30.
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Realty Income Corp. (NYSE:O) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.72 by $0.02. The firm earned $260.06 million during the quarter, compared to the consensus estimate of $274.34 million. Realty Income Corp. had a return on equity of 5.08% and a net margin of 27.95%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 earnings per share. On average, equities analysts expect that Realty Income Corp. will post $2.85 EPS for the current year.
The company also recently announced a oct 16 dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be paid a $0.202 dividend. The ex-dividend date is Thursday, September 29th. This represents a dividend yield of 3.77%. This is an increase from Realty Income Corp.’s previous oct 16 dividend of $0.20. Realty Income Corp.’s dividend payout ratio is currently 222.02%.
In other news, Director Ronald Merriman sold 2,500 shares of the stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $66.68, for a total value of $166,700.00. Following the sale, the director now owns 12,075 shares of the company’s stock, valued at $805,161. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Benjamin N. Fox sold 2,174 shares of the firm’s stock in a transaction dated Friday, June 24th. The stock was sold at an average price of $65.79, for a total transaction of $143,027.46. Following the completion of the transaction, the senior vice president now directly owns 12,130 shares in the company, valued at approximately $798,032.70. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Invictus RG bought a new position in Realty Income Corp. during the second quarter valued at approximately $105,000. CENTRAL TRUST Co increased its position in Realty Income Corp. by 13.3% in the second quarter. CENTRAL TRUST Co now owns 2,197 shares of the company’s stock valued at $152,000 after buying an additional 258 shares in the last quarter. Chicago Partners Investment Group LLC bought a new position in Realty Income Corp. during the second quarter valued at approximately $180,000. Rehmann Capital Advisory Group bought a new position in Realty Income Corp. during the second quarter valued at approximately $202,000. Finally, WealthTrust Fairport LLC bought a new position in Realty Income Corp. during the second quarter valued at approximately $202,000. 71.16% of the stock is currently owned by institutional investors.
Realty Income Corp. 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. Its portfolio includes approximately 4,540 properties, of which over 4,519 are single-tenant properties, and the remaining are multi-tenant properties.
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