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 brokerage currently has a $65.00 price target on the stock. Zacks Investment Research’s price objective suggests a potential upside of 15.35% from the stock’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. “
A number of other research analysts have also weighed in on the company. Wunderlich decreased their target price on Realty Income Corp. from $60.00 to $54.00 and set a “sell” rating on the stock in a report on Monday, October 31st. Mizuho initiated coverage on Realty Income Corp. in a research note on Thursday, October 13th. They issued a “neutral” rating and a $65.00 price target for the company. Vetr upgraded Realty Income Corp. from a “hold” rating to a “buy” rating in a research note on Saturday, October 8th. BTIG Research initiated coverage on Realty Income Corp. in a research note on Thursday, August 25th. They issued a “neutral” rating for the company. Finally, RBC Capital Markets restated a “sector perform” rating and issued a $66.00 price target (up from $58.00) on shares of Realty Income Corp. in a research note on Monday, August 1st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $61.70.
Realty Income Corp. (NYSE:O) traded down 0.39% on Wednesday, reaching $56.35. 1,666,376 shares of the company’s stock were exchanged. Realty Income Corp. has a 1-year low of $48.37 and a 1-year high of $72.30. The company has a market capitalization of $14.57 billion, a P/E ratio of 51.04 and a beta of 0.41. The firm has a 50-day moving average price of $58.65 and a 200-day moving average price of $64.32.
Realty Income Corp. (NYSE:O) last posted its earnings results on Wednesday, October 26th. The company reported $0.73 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.73. The business had revenue of $277.20 million for the quarter, compared to analyst estimates of $279.57 million. Realty Income Corp. had a return on equity of 5.04% and a net margin of 28.37%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.70 EPS. Equities research analysts expect 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. Stockholders of record on Thursday, December 1st will be issued a dividend of $0.202 per share. The ex-dividend date is Tuesday, November 29th. This represents a dividend yield of 4.36%. Realty Income Corp.’s dividend payout ratio (DPR) is currently 220.00%.
Several institutional investors have recently bought and sold shares of the company. Invictus RG acquired a new position in Realty Income Corp. during the second quarter worth approximately $105,000. Synovus Financial Corp boosted its position in shares of 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 position in shares of 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 position in shares of Realty Income Corp. during the second quarter worth about $180,000. Finally, Rehmann Capital Advisory Group purchased a new position in shares of Realty Income Corp. during the second quarter worth about $202,000. 68.30% 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.