Vetr Inc. Upgrades Realty Income Corp. (O) to “Buy”
Realty Income Corp. (NYSE:O) was upgraded by stock analysts at Vetr from a “hold” rating to a “buy” rating in a report released on Saturday.
Several other research analysts have also recently weighed in on the company. Citigroup Inc. upped their price objective on Realty Income Corp. from $50.00 to $60.00 and gave the stock a “sell” rating in a research report on Thursday, July 7th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $66.00 price objective (up from $58.00) on shares of Realty Income Corp. in a research report on Monday, August 1st. Wunderlich upped their target price on Realty Income Corp. from $53.00 to $60.00 and gave the stock a “sell” rating in a report on Monday, August 1st. Oppenheimer Holdings Inc. upped their target price on Realty Income Corp. from $66.00 to $78.00 and gave the stock an “outperform” rating in a report on Thursday, July 28th. Finally, Stifel Nicolaus upped their target price on Realty Income Corp. from $66.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Realty Income Corp. presently has an average rating of “Hold” and an average price target of $63.32.
Shares of Realty Income Corp. (NYSE:O) opened at 61.46 on Friday. The stock’s 50 day moving average price is $65.90 and its 200 day moving average price is $65.12. Realty Income Corp. has a one year low of $45.98 and a one year high of $72.30. The firm has a market cap of $15.89 billion, a price-to-earnings ratio of 56.39 and a beta of 0.33.
Realty Income Corp. (NYSE:O) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.72 by $0.02. The firm had revenue of $260.06 million for the quarter, compared to analyst estimates of $274.34 million. Realty Income Corp. had a return on equity of 5.08% and a net margin of 27.95%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.69 earnings per share. On average, equities analysts anticipate that Realty Income Corp. will post $2.85 earnings per share for the current fiscal 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 dividend of $0.202 per share. The ex-dividend date is Thursday, September 29th. This represents a dividend yield of 3.77%. This is a positive change from Realty Income Corp.’s previous oct 16 dividend of $0.20. Realty Income Corp.’s dividend payout ratio (DPR) is 222.02%.
In related news, Director Kathleen Allen sold 4,000 shares of the stock in a transaction that occurred 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 owns 74,000 shares of the company’s stock, valued at $5,216,260. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ronald Merriman sold 2,500 shares of the stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $66.68, for a total value of $166,700.00. Following the sale, the director now directly owns 12,075 shares in the company, valued at approximately $805,161. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.
A number of large investors have recently modified their holdings of O. Invictus RG bought a new stake in shares of Realty Income Corp. during the second quarter worth about $105,000. CENTRAL TRUST Co increased its stake in shares of Realty Income Corp. by 13.3% in the second quarter. CENTRAL TRUST Co now owns 2,197 shares of the company’s stock worth $152,000 after buying an additional 258 shares in the last quarter. Chicago Partners Investment Group LLC bought a new stake in shares of Realty Income Corp. during the second quarter worth about $180,000. Rehmann Capital Advisory Group bought a new stake in shares of Realty Income Corp. during the second quarter worth about $202,000. Finally, WealthTrust Fairport LLC bought a new stake in shares of Realty Income Corp. during the second quarter worth about $202,000. 70.99% of the stock is currently owned by institutional investors and hedge funds.
About Realty Income Corp.
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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