Analysts Set Expectations for Realty Income Corporation’s FY2019 Earnings (O)
Realty Income Corporation (NYSE:O) – Stock analysts at B. Riley dropped their FY2019 earnings per share estimates for shares of Realty Income in a research report issued to clients and investors on Monday. B. Riley analyst D. Corak now anticipates that the real estate investment trust will earn $3.17 per share for the year, down from their prior estimate of $3.21. B. Riley currently has a “Hold” rating and a $56.00 target price on the stock.
O has been the subject of a number of other reports. Vetr upgraded Realty Income from a “hold” rating to a “buy” rating and set a $58.60 target price for the company in a research report on Monday, November 20th. Zacks Investment Research downgraded Realty Income from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of Realty Income in a research report on Thursday, October 26th. Capital One Financial restated an “equal weight” rating on shares of Realty Income in a research note on Wednesday, October 25th. Finally, FBR & Co set a $56.00 price target on Realty Income and gave the company a “hold” rating in a research note on Thursday, October 26th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $64.09.
Shares of Realty Income (O) traded up $0.13 on Wednesday, reaching $54.83. The company had a trading volume of 1,631,520 shares, compared to its average volume of 1,755,011. The company has a market capitalization of $15,450.00, a P/E ratio of 18.05, a PEG ratio of 4.53 and a beta of 0.29. Realty Income has a 12 month low of $52.85 and a 12 month high of $63.60. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.26 and a current ratio of 1.26.
Realty Income (NYSE:O) last posted its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $306.90 million during the quarter, compared to the consensus estimate of $292.73 million. Realty Income had a return on equity of 5.11% and a net margin of 29.37%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.72 EPS.
The business also recently announced a dec 17 dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.212 dividend. The ex-dividend date is Thursday, November 30th. This represents a yield of 4.49%. Realty Income’s dividend payout ratio (DPR) is presently 208.20%.
In related news, Director Gregory Mclaughlin sold 3,200 shares of Realty Income stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $58.85, for a total transaction of $188,320.00. Following the completion of the sale, the director now owns 15,986 shares of the company’s stock, valued at $940,776.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Paul M. Meurer sold 5,603 shares of Realty Income stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $54.75, for a total value of $306,764.25. The disclosure for this sale can be found here. Insiders have sold 10,549 shares of company stock worth $593,646 in the last 90 days. Insiders own 0.30% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of 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 valued at $2,583,229,000 after buying an additional 834,811 shares in the last quarter. BlackRock Inc. increased its position in shares of 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 valued at $1,497,836,000 after buying an additional 1,024,539 shares in the last quarter. Northern Trust Corp increased its position in shares of Realty Income by 3.6% in the second quarter. Northern Trust Corp now owns 4,718,094 shares of the real estate investment trust’s stock valued at $260,344,000 after buying an additional 164,326 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of 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 valued at $256,540,000 after buying an additional 437,803 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Realty Income by 8.0% in the third quarter. Bank of New York Mellon Corp now owns 4,345,915 shares of the real estate investment trust’s stock valued at $248,543,000 after buying an additional 322,239 shares in the last quarter. 70.04% of the stock is owned by institutional investors.
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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