Realty Income (O) Lifted to “Market Perform” at Citigroup
Realty Income (NYSE:O) was upgraded by equities research analysts at Citigroup to a “market perform” rating in a research note issued to investors on Wednesday. The analysts noted that the move was a valuation call.
A number of other research analysts have also recently issued reports on O. UBS raised Realty Income from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $52.00 to $57.00 in a report on Friday, September 8th. B. Riley set a $56.00 price objective on Realty Income and gave the company a “hold” rating in a report on Monday, December 4th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $65.00 price target on shares of Realty Income in a report on Wednesday, November 1st. FBR & Co set a $56.00 price objective on Realty Income and gave the stock a “hold” rating in a report on Thursday, October 26th. Finally, Vetr raised Realty Income from a “hold” rating to a “buy” rating and set a $58.60 price objective for the company in a report on Thursday, October 19th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $64.09.
Shares of Realty Income (NYSE O) opened at $56.35 on Wednesday. The stock has a market cap of $16,287.20, a price-to-earnings ratio of 18.89, a PEG ratio of 4.77 and a beta of 0.29. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.26 and a quick ratio of 1.26. Realty Income has a 52 week low of $52.85 and a 52 week high of $63.60.
In related news, CFO Paul M. Meurer sold 5,603 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $54.75, for a total transaction of $306,764.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Joel Tomlinson sold 1,746 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $56.45, for a total value of $98,561.70. Following the transaction, the senior vice president now directly owns 14,913 shares of the company’s stock, valued at approximately $841,838.85. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in O. BlackRock Inc. grew its position in Realty Income by 3.9% in the second quarter. BlackRock Inc. now owns 27,144,544 shares of the real estate investment trust’s stock worth $1,497,836,000 after acquiring an additional 1,024,539 shares in the last quarter. Vanguard Group Inc. raised its stake in Realty Income by 1.8% in the second quarter. Vanguard Group Inc. now owns 46,814,575 shares of the real estate investment trust’s stock worth $2,583,229,000 after buying an additional 834,811 shares in the last quarter. Standard Life Investments LTD bought a new position in Realty Income in the second quarter worth approximately $29,611,000. JPMorgan Chase & Co. raised its stake in Realty Income by 10.9% in the third quarter. JPMorgan Chase & Co. now owns 4,436,861 shares of the real estate investment trust’s stock worth $256,540,000 after buying an additional 437,803 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Realty Income by 92.8% during the second quarter. Principal Financial Group Inc. now owns 790,148 shares of the real estate investment trust’s stock worth $43,600,000 after purchasing an additional 380,379 shares in the last quarter. 69.92% of the stock is currently owned by institutional investors.
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About Realty Income
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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