Realty Income Corp (NYSE:O) – Equities researchers at B. Riley increased their FY2018 earnings estimates for Realty Income in a research note issued to investors on Tuesday. B. Riley analyst D. Corak now expects that the real estate investment trust will earn $3.16 per share for the year, up from their previous estimate of $3.15. B. Riley currently has a “Hold” rating and a $56.00 price target on the stock. B. Riley also issued estimates for Realty Income’s Q4 2018 earnings at $0.80 EPS and FY2019 earnings at $3.18 EPS.
Realty Income (NYSE:O) last announced its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. The business had revenue of $306.90 million during the quarter, compared to analyst estimates 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 for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 earnings per share.
Several other equities analysts also recently weighed in on O. UBS Group upgraded Realty Income from a “sell” rating to a “neutral” rating and raised their price target for the company from $52.00 to $57.00 in a report on Friday, September 8th. Vetr upgraded Realty Income from a “hold” rating to a “buy” rating and set a $58.60 price target for the company in a report on Thursday, October 19th. Zacks Investment Research downgraded Realty Income from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. FBR & Co set a $56.00 price target on Realty Income and gave the company a “hold” rating in a report on Thursday, October 26th. Finally, Ladenburg Thalmann Financial Services restated a “hold” rating on shares of Realty Income in a report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $64.09.
Shares of Realty Income (NYSE:O) traded down $1.22 during trading on Thursday, reaching $55.25. The company’s stock had a trading volume of 1,879,200 shares, compared to its average volume of 1,681,367. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market capitalization of $15,520.00, a price-to-earnings ratio of 45.29, a P/E/G ratio of 4.29 and a beta of 0.29. Realty Income has a fifty-two week low of $52.85 and a fifty-two week high of $63.60.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Parametric Portfolio Associates LLC lifted its holdings in Realty Income by 16.2% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 448,710 shares of the real estate investment trust’s stock worth $25,662,000 after purchasing an additional 62,446 shares in the last quarter. Chicago Partners Investment Group LLC lifted its holdings in Realty Income by 401.5% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 11,866 shares of the real estate investment trust’s stock worth $679,000 after purchasing an additional 9,500 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Realty Income by 4.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 144,436 shares of the real estate investment trust’s stock worth $8,260,000 after purchasing an additional 5,567 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in Realty Income by 79.2% in the 3rd quarter. GSA Capital Partners LLP now owns 13,943 shares of the real estate investment trust’s stock worth $797,000 after purchasing an additional 6,161 shares in the last quarter. Finally, Moors & Cabot Inc. lifted its holdings in Realty Income by 11.2% in the 3rd quarter. Moors & Cabot Inc. now owns 18,425 shares of the real estate investment trust’s stock worth $1,049,000 after purchasing an additional 1,860 shares in the last quarter. 69.92% of the stock is currently owned by institutional investors.
In other news, CFO Paul M. Meurer sold 5,603 shares of Realty Income stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $54.75, for a total transaction of $306,764.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Joel Tomlinson sold 1,746 shares of Realty Income stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $56.45, for a total value of $98,561.70. Following the transaction, the senior vice president now directly owns 14,913 shares in the company, valued at $841,838.85. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.
The company also recently declared a jan 17 dividend, which will be paid on Friday, January 12th. Shareholders of record on Tuesday, January 2nd will be paid a dividend of $0.2125 per share. This is an increase from Realty Income’s previous jan 17 dividend of $0.21. This represents a dividend yield of 4.48%. The ex-dividend date is Friday, December 29th. Realty Income’s payout ratio is currently 209.02%.
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About Realty Income
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.
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