Realty Income Corp (NYSE:O) – Analysts at B. Riley decreased their FY2019 EPS estimates for Realty Income in a research note issued to investors on Monday, Zacks Investment Research reports. B. Riley analyst D. Corak now expects that the real estate investment trust will post earnings of $3.17 per share for the year, down from their previous forecast of $3.21. B. Riley has a “Hold” rating and a $56.00 price objective on the stock.
O has been the topic of several other reports. Zacks Investment Research cut Realty Income from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. UBS Group upgraded Realty Income from a “sell” rating to a “neutral” rating and increased their price target for the stock from $52.00 to $57.00 in a report on Friday, September 8th. Ladenburg Thalmann Financial Services restated a “hold” rating on shares of Realty Income in a report on Wednesday, November 1st. Stifel Nicolaus restated a “buy” rating and set a $65.00 price target on shares of Realty Income in a report on Wednesday, November 1st. Finally, Vetr upgraded Realty Income from a “hold” rating to a “buy” rating and set a $58.60 price target on the stock in a report on Monday, November 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $64.09.
Realty Income (NYSE:O) last announced its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.01. Realty Income had a return on equity of 5.11% and a net margin of 29.37%. The business had revenue of $306.90 million for the quarter, compared to analysts’ expectations of $292.73 million. During the same period in the prior year, the business posted $0.72 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in O. San Francisco Sentry Investment Group CA raised its position in Realty Income by 500.0% in the 3rd quarter. San Francisco Sentry Investment Group CA now owns 1,800 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 1,500 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its position in Realty Income by 314.4% in the 2nd 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 during the last quarter. Bessemer Group Inc. increased its position in shares of Realty Income by 42.1% during the 2nd quarter. Bessemer Group Inc. now owns 2,200 shares of the real estate investment trust’s stock valued at $121,000 after purchasing an additional 652 shares during the last quarter. Wealthcare Advisory Partners LLC purchased a new stake in shares of Realty Income during the 3rd quarter valued at $130,000. Finally, FNY Managed Accounts LLC purchased a new stake in shares of Realty Income during the 3rd quarter valued at $137,000. 69.92% of the stock is owned by institutional investors and hedge funds.
In related news, SVP Joel Tomlinson sold 1,746 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $56.45, for a total value of $98,561.70. Following the completion of the sale, the senior vice president now directly owns 14,913 shares of the company’s stock, valued at approximately $841,838.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Paul M. Meurer sold 5,603 shares of the stock in a transaction on Thursday, November 2nd. The shares were 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. 0.30% of the stock is owned by company insiders.
The company also recently announced a jan 17 dividend, which will be paid on Friday, January 12th. Investors of record on Tuesday, January 2nd will be issued a $0.2125 dividend. This is a boost from Realty Income’s previous jan 17 dividend of $0.21. This represents a dividend yield of 4.48%. The ex-dividend date is Friday, December 29th. Realty Income’s dividend payout ratio (DPR) is currently 208.20%.
Realty Income 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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