Realty Income Corp. (O) Upgraded at Zacks Investment Research
Realty Income Corp. (NYSE:O) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage currently has a $70.00 target price on the stock. Zacks Investment Research’s price objective suggests a potential upside of 11.73% from the stock’s previous close.
According to Zacks, “REALTY INCOME CORP. is a fully integrated, self-administered and self-managed real estate company with in-house acquisition, leasing, legal, financial underwriting, porfolio management and capital markets expertise. “
A number of other research firms have also recently issued reports on O. Mizuho began coverage on shares of Realty Income Corp. in a research note on Thursday, October 13th. They issued a “neutral” rating and a $65.00 target price for the company. Citigroup Inc. boosted their price objective 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. RBC Capital Markets restated a “sector perform” rating and issued a $66.00 price objective (up previously from $58.00) on shares of Realty Income Corp. in a research report on Monday, August 1st. Vetr cut shares of Realty Income Corp. from a “sell” rating to a “strong sell” rating and set a $58.50 price objective for the company. in a research report on Monday, June 27th. Finally, Stifel Nicolaus boosted their price objective on shares of Realty Income Corp. from $66.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $62.80.
Shares of Realty Income Corp. (NYSE:O) opened at 62.65 on Tuesday. Realty Income Corp. has a 12 month low of $45.98 and a 12 month high of $72.30. The stock has a 50 day moving average price of $65.09 and a 200-day moving average price of $65.15. The stock has a market cap of $16.20 billion, a P/E ratio of 57.48 and a beta of 0.33.
Realty Income Corp. (NYSE:O) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by $0.02. The business had revenue of $260.06 million for 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 firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.69 EPS. On average, analysts forecast that Realty Income Corp. will post $2.85 EPS for the current fiscal year.
The company also recently declared a nov 16 dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 1st will be issued a $0.202 dividend. This represents a dividend yield of 3.93%. The ex-dividend date of this dividend is Friday, October 28th. Realty Income Corp.’s dividend payout ratio (DPR) is 222.02%.
In other news, Director Ronald Merriman sold 2,500 shares of the business’s 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 completion of the transaction, the director now owns 12,075 shares of the company’s stock, valued at approximately $805,161. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kathleen Allen sold 4,000 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $70.49, for a total transaction of $281,960.00. Following the completion of the transaction, the director now directly owns 74,000 shares of the company’s stock, valued at approximately $5,216,260. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in O. Invictus RG bought a new stake in Realty Income Corp. during the second quarter valued at approximately $105,000. CENTRAL TRUST Co boosted its stake 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 acquired a new stake in shares of Realty Income Corp. during the second quarter valued at approximately $180,000. Rehmann Capital Advisory Group acquired a new stake in shares of Realty Income Corp. during the second quarter valued at approximately $202,000. Finally, WealthTrust Fairport LLC acquired a new stake in shares of Realty Income Corp. during the second quarter valued at approximately $202,000. 70.96% of the stock is 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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