Realty Income Corp. (NYSE:O) – Equities researchers at Capital One Financial Corp. boosted their FY2016 earnings per share estimates for Realty Income Corp. in a research report issued on Tuesday. Capital One Financial Corp. analyst C. Lucas now forecasts that the firm will earn $2.86 per share for the year, up from their prior estimate of $2.81. Capital One Financial Corp. also issued estimates for Realty Income Corp.’s Q1 2017 earnings at $0.74 EPS, Q2 2017 earnings at $0.75 EPS, Q4 2017 earnings at $0.76 EPS, FY2017 earnings at $3.01 EPS and FY2018 earnings at $3.15 EPS.
Realty Income Corp. (NYSE:O) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by $0.02. Realty Income Corp. had a return on equity of 5.08% and a net margin of 27.95%. The firm had revenue of $260.06 million for the quarter, compared to analysts’ expectations of $274.34 million. During the same period last year, the firm earned $0.69 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis.
Other equities research analysts have also issued research reports about the stock. Vetr lowered shares of Realty Income Corp. from a “strong-buy” rating to a “buy” rating and set a $74.01 price target on the stock. in a report on Wednesday, September 21st. Stifel Nicolaus upped their price objective on shares of Realty Income Corp. from $66.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Zacks Investment Research upgraded shares of Realty Income Corp. from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a research note on Wednesday, July 27th. BTIG Research initiated coverage on shares of Realty Income Corp. in a research note on Thursday, August 25th. They issued a “neutral” rating on the stock. Finally, Oppenheimer Holdings Inc. upped their price objective on shares of Realty Income Corp. from $66.00 to $78.00 and gave the company an “outperform” rating in a research note on Thursday, July 28th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $63.32.
Shares of Realty Income Corp. (NYSE:O) opened at 61.46 on Friday. The company’s 50-day moving average is $65.90 and its 200 day moving average is $65.12. Realty Income Corp. has a 1-year low of $45.98 and a 1-year high of $72.30. The stock has a market cap of $15.89 billion, a P/E ratio of 56.39 and a beta of 0.33.
Several hedge funds 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 boosted 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 during 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. 70.99% of the stock is owned by institutional investors and hedge funds.
In related news, Director Ronald Merriman sold 2,500 shares of the company’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $66.68, for a total transaction of $166,700.00. Following the completion of the sale, the director now directly owns 12,075 shares of the company’s stock, valued at approximately $805,161. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kathleen Allen sold 4,000 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $70.49, for a total transaction of $281,960.00. Following the sale, the director now directly owns 74,000 shares of the company’s stock, valued at $5,216,260. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.
The company also recently disclosed a oct 16 dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be issued a dividend of $0.202 per share. This is an increase from Realty Income Corp.’s previous oct 16 dividend of $0.20. This represents a dividend yield of 3.77%. The ex-dividend date of this dividend is Thursday, September 29th. Realty Income Corp.’s dividend payout ratio is currently 222.02%.
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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