Zacks: Analysts Expect Realty Income Corporation (O) Will Post Quarterly Sales of $298.97 Million
Wall Street analysts forecast that Realty Income Corporation (NYSE:O) will post sales of $298.97 million for the current quarter, Zacks reports. Seven analysts have made estimates for Realty Income Corporation’s earnings, with the lowest sales estimate coming in at $287.31 million and the highest estimate coming in at $311.32 million. Realty Income Corporation reported sales of $277.17 million in the same quarter last year, which would suggest a positive year over year growth rate of 7.9%. The firm is expected to issue its next earnings report on Wednesday, October 25th.
On average, analysts expect that Realty Income Corporation will report full-year sales of $298.97 million for the current year, with estimates ranging from $1.15 billion to $1.23 billion. For the next financial year, analysts forecast that the firm will report sales of $1.27 billion per share, with estimates ranging from $1.17 billion to $1.34 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that follow Realty Income Corporation.
Realty Income Corporation (NYSE:O) last announced its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.76 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.76. The company had revenue of $300.20 million during the quarter, compared to the consensus estimate of $289.86 million. Realty Income Corporation had a net margin of 29.19% and a return on equity of 5.14%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.70 earnings per share.
O has been the topic of a number of recent research reports. Canaccord Genuity initiated coverage on shares of Realty Income Corporation in a report on Tuesday, July 18th. They issued a “buy” rating and a $61.00 target price on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $65.00 target price on shares of Realty Income Corporation in a report on Friday, July 14th. BidaskClub cut shares of Realty Income Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Zacks Investment Research cut shares of Realty Income Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, June 28th. Finally, Morgan Stanley lifted their target price on shares of Realty Income Corporation from $91.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, July 17th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. Realty Income Corporation has a consensus rating of “Hold” and a consensus target price of $63.68.
Shares of Realty Income Corporation (O) opened at 57.32 on Thursday. The company has a 50-day moving average of $56.88 and a 200 day moving average of $57.79. Realty Income Corporation has a one year low of $52.72 and a one year high of $69.14. The stock has a market cap of $15.71 billion, a PE ratio of 49.03 and a beta of 0.32.
The firm also recently announced a aug 17 dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a $0.2115 dividend. The ex-dividend date is Wednesday, August 30th. This represents a dividend yield of 4.46%. Realty Income Corporation’s payout ratio is 217.09%.
In other Realty Income Corporation news, Director Priya Cherian Huskins sold 8,000 shares of the business’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $56.23, for a total value of $449,840.00. Following the transaction, the director now directly owns 20,513 shares of the company’s stock, valued at approximately $1,153,445.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.30% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. boosted its position in shares of Realty Income Corporation by 314.4% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,927 shares of the real estate investment trust’s stock valued at $106,000 after buying an additional 1,462 shares in the last quarter. Founders Capital Management bought a new stake in shares of Realty Income Corporation during the first quarter valued at approximately $107,000. Harbour Capital Advisors LLC bought a new stake in shares of Realty Income Corporation during the first quarter valued at approximately $119,000. Bessemer Group Inc. raised its stake in shares of Realty Income Corporation by 42.1% in the second quarter. Bessemer Group Inc. now owns 2,200 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 652 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC bought a new stake in shares of Realty Income Corporation during the first quarter valued at approximately $144,000. 69.17% of the stock is currently owned by institutional investors.
Realty Income Corporation 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. As of December 31, 2016, the Company owned a diversified portfolio of 4,944 properties located in 49 states and Puerto Rico, with over 83.0 million square feet of leasable space leased to 248 different commercial tenants doing business in 47 separate industries.
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