Realty Income Corp. (O) Rating Increased to Buy 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 to investors on Saturday. The brokerage currently has a $62.00 target price on the stock. Zacks Investment Research’s price target points to a potential upside of 12.42% from the stock’s current price.
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. “
O has been the topic of a number of other reports. Vetr cut shares of Realty Income Corp. from a “buy” rating to a “hold” rating and set a $64.82 price target on the stock. in a research report on Tuesday, October 4th. BTIG Research began coverage on Realty Income Corp. in a research note on Thursday, August 25th. They set a “neutral” rating for the company. Mizuho began coverage on Realty Income Corp. in a research note on Thursday, October 13th. They set a “neutral” rating and a $65.00 price objective for the company. Wunderlich dropped their price objective on Realty Income Corp. from $60.00 to $54.00 and set a “sell” rating for the company in a research note on Monday, October 31st. Finally, Stifel Nicolaus dropped their price objective on Realty Income Corp. from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Monday, November 14th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $61.70.
Realty Income Corp. (NYSE:O) opened at 55.15 on Friday. Realty Income Corp. has a 12-month low of $48.37 and a 12-month high of $72.30. The firm has a 50-day moving average of $59.93 and a 200 day moving average of $64.60. The company has a market capitalization of $14.26 billion, a price-to-earnings ratio of 49.95 and a beta of 0.41.
Realty Income Corp. (NYSE:O) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $0.73 EPS for the quarter, meeting analysts’ consensus estimates of $0.73. Realty Income Corp. had a net margin of 28.37% and a return on equity of 5.04%. The business had revenue of $277.20 million for the quarter, compared to analysts’ expectations of $279.57 million. During the same period last year, the business earned $0.70 earnings per share. The business’s quarterly revenue was up 7.1% on a year-over-year basis. Analysts expect that Realty Income Corp. will post $2.86 EPS for the current fiscal year.
The company also recently disclosed a dec 16 dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be given a dividend of $0.202 per share. This represents a yield of 4.36%. The ex-dividend date is Tuesday, November 29th. Realty Income Corp.’s dividend payout ratio is currently 220.00%.
A number of institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System raised its position in shares of Realty Income Corp. by 4.6% in the first quarter. Arizona State Retirement System now owns 117,100 shares of the company’s stock valued at $7,320,000 after buying an additional 5,200 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Realty Income Corp. by 12.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 182,981 shares of the company’s stock valued at $11,437,000 after buying an additional 20,407 shares in the last quarter. Fulton Bank N.A. raised its position in shares of Realty Income Corp. by 4.7% in the second quarter. Fulton Bank N.A. now owns 23,226 shares of the company’s stock valued at $1,611,000 after buying an additional 1,040 shares in the last quarter. Stock Yards Bank & Trust Co. purchased a new position in shares of Realty Income Corp. during the second quarter valued at approximately $203,000. Finally, Indiana Trust & Investment Management CO purchased a new position in shares of Realty Income Corp. during the second quarter valued at approximately $317,000. 70.23% of the stock is 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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