Realty Income Corp. (O) Stock Rating Upgraded by 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 Wednesday. The firm currently has a $64.00 price objective on the stock. Zacks Investment Research’s target price suggests a potential upside of 12.80% from the company’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. “
O has been the topic of a number of other research reports. Vetr cut Realty Income Corp. from a “buy” rating to a “hold” rating and set a $64.82 price target on the stock. in a report on Tuesday, October 4th. BTIG Research assumed coverage on shares of Realty Income Corp. in a research note on Thursday, August 25th. They set a “neutral” rating on the stock. Mizuho assumed coverage on shares of Realty Income Corp. in a research note on Thursday, October 13th. They set a “neutral” rating and a $65.00 price objective on the stock. Wunderlich lowered their price objective on shares of Realty Income Corp. from $60.00 to $54.00 and set a “sell” rating on the stock in a research note on Monday, October 31st. Finally, Stifel Nicolaus lowered their price objective on shares of Realty Income Corp. from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, November 14th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $61.86.
Realty Income Corp. (NYSE:O) opened at 56.74 on Wednesday. Realty Income Corp. has a 52-week low of $48.37 and a 52-week high of $72.30. The firm’s 50-day moving average price is $58.54 and its 200 day moving average price is $64.32. The firm has a market cap of $14.67 billion, a PE ratio of 51.39 and a beta of 0.41.
Realty Income Corp. (NYSE:O) last released its quarterly earnings results on Wednesday, October 26th. The company reported $0.73 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.73. The company had revenue of $277.20 million for the quarter, compared to analysts’ expectations of $279.57 million. Realty Income Corp. had a return on equity of 5.04% and a net margin of 28.37%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 earnings per share. On average, equities analysts anticipate that Realty Income Corp. will post $2.86 earnings per share for the current year.
The firm also recently declared a dec 16 dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be given a $0.202 dividend. The ex-dividend date is Tuesday, November 29th. This represents a yield of 4.36%. Realty Income Corp.’s dividend payout ratio (DPR) is 220.00%.
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A number of hedge funds and other institutional investors have recently bought and sold shares of O. Vanguard Group Inc. raised its position in Realty Income Corp. by 4.0% in the second quarter. Vanguard Group Inc. now owns 42,640,936 shares of the company’s stock valued at $2,957,575,000 after buying an additional 1,639,015 shares during the period. Janus Capital Management LLC raised its position in Realty Income Corp. by 304.8% in the second quarter. Janus Capital Management LLC now owns 2,174,113 shares of the company’s stock worth $150,797,000 after buying an additional 1,637,045 shares in the last quarter. PGGM Investments raised its position in Realty Income Corp. by 71.7% in the third quarter. PGGM Investments now owns 2,993,289 shares of the company’s stock worth $200,341,000 after buying an additional 1,250,120 shares in the last quarter. Nuveen Asset Management LLC raised its position in Realty Income Corp. by 580.4% in the second quarter. Nuveen Asset Management LLC now owns 1,349,426 shares of the company’s stock worth $93,596,000 after buying an additional 1,151,096 shares in the last quarter. Finally, BlackRock Fund Advisors raised its position in Realty Income Corp. by 12.5% in the second quarter. BlackRock Fund Advisors now owns 9,283,036 shares of the company’s stock worth $643,871,000 after buying an additional 1,032,768 shares in the last quarter. Hedge funds and other institutional investors own 68.30% of the company’s stock.
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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