Realty Income Corp. (NYSE:O) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
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. “
Several other research analysts have also issued reports on the stock. Vetr lowered shares of Realty Income Corp. from a “buy” rating to a “hold” rating and set a $64.82 target price for the company. in a research report on Tuesday, October 4th. Wunderlich upped their price target on shares of Realty Income Corp. from $53.00 to $60.00 and gave the company a “sell” rating in a research report on Monday, August 1st. Oppenheimer Holdings Inc. upped their price target on shares of Realty Income Corp. from $66.00 to $78.00 and gave the company an “outperform” rating in a research report on Thursday, July 28th. Stifel Nicolaus cut their price target on shares of Realty Income Corp. from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, November 14th. Finally, BTIG Research initiated coverage on shares of Realty Income Corp. in a research report on Thursday, August 25th. They set a “neutral” rating for the company. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $61.70.
Realty Income Corp. (NYSE:O) traded up 1.4496% on Friday, hitting $56.9335. The stock had a trading volume of 251,356 shares. Realty Income Corp. has a 52-week low of $48.37 and a 52-week high of $72.30. The company has a market cap of $14.72 billion, a P/E ratio of 51.5702 and a beta of 0.41. The stock’s 50-day moving average is $59.02 and its 200-day moving average is $64.42.
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, hitting the consensus estimate of $0.73. The firm had revenue of $277.20 million for the quarter, compared to analysts’ expectations of $279.57 million. Realty Income Corp. had a net margin of 28.37% and a return on equity of 5.04%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.70 earnings per share. Analysts expect that Realty Income Corp. will post $2.86 earnings per share for the current year.
The business also recently declared a dec 16 dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be paid a $0.202 dividend. This represents a yield of 4.36%. The ex-dividend date of this dividend is Tuesday, November 29th. Realty Income Corp.’s payout ratio is currently 220.00%.
Institutional investors have recently added to or reduced their stakes in the company. Invictus RG acquired a new position in shares of Realty Income Corp. during the second quarter worth $105,000. Synovus Financial Corp boosted its stake in Realty Income Corp. by 1,745.3% in the third quarter. Synovus Financial Corp now owns 1,956 shares of the company’s stock worth $131,000 after buying an additional 1,850 shares during the last quarter. CENTRAL TRUST Co boosted its stake in Realty Income Corp. by 13.3% in the second quarter. CENTRAL TRUST Co now owns 2,197 shares of the company’s stock worth $152,000 after buying an additional 258 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new stake in Realty Income Corp. during the second quarter worth approximately $180,000. Finally, Rehmann Capital Advisory Group purchased a new stake in Realty Income Corp. during the second quarter worth approximately $202,000. 70.22% of the stock is owned by institutional investors.
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.