Jefferies Financial Group assumed coverage on shares of Realty Income (NYSE:O) in a research report released on Thursday morning, BenzingaRatingsTable reports. The firm issued a buy rating and a $99.00 price objective on the real estate investment trust’s stock.
A number of other brokerages have also recently weighed in on O. Wells Fargo & Co set a $82.00 target price on Realty Income and gave the company a buy rating in a report on Tuesday, September 3rd. Deutsche Bank began coverage on Realty Income in a report on Tuesday, August 27th. They issued a hold rating and a $73.00 target price on the stock. ValuEngine cut Realty Income from a buy rating to a hold rating in a report on Thursday, August 1st. Stifel Nicolaus lifted their target price on Realty Income from $75.00 to $80.00 and gave the company a buy rating in a report on Wednesday, September 4th. Finally, Morgan Stanley lifted their target price on Realty Income from $72.00 to $75.00 and gave the company an equal weight rating in a report on Tuesday, September 17th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $76.70.
Shares of O stock traded down $0.80 during mid-day trading on Thursday, hitting $77.93. 90,503 shares of the company’s stock were exchanged, compared to its average volume of 1,668,041. Realty Income has a fifty-two week low of $55.55 and a fifty-two week high of $78.97. The stock has a 50-day simple moving average of $75.36 and a two-hundred day simple moving average of $71.86. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.80. The stock has a market cap of $24.80 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 6.11 and a beta of 0.06.
Realty Income (NYSE:O) last posted its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.01. Realty Income had a return on equity of 4.79% and a net margin of 27.86%. The business had revenue of $365.50 million for the quarter, compared to analysts’ expectations of $344.42 million. During the same quarter last year, the firm earned $0.34 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. As a group, analysts anticipate that Realty Income will post 3.29 earnings per share for the current fiscal year.
The business also recently disclosed a sep 19 dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a $0.227 dividend. This represents a yield of 3.6%. The ex-dividend date of this dividend is Monday, September 30th. Realty Income’s dividend payout ratio (DPR) is presently 85.27%.
In other Realty Income news, CFO Paul M. Meurer sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $75.33, for a total value of $753,300.00. Following the transaction, the chief financial officer now directly owns 30,468 shares of the company’s stock, valued at $2,295,154.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director A. Larry Chapman sold 8,000 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $75.09, for a total value of $600,720.00. Following the completion of the transaction, the director now directly owns 14,757 shares in the company, valued at $1,108,103.13. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in O. Nuveen Asset Management LLC increased its position in shares of Realty Income by 437.2% during the second quarter. Nuveen Asset Management LLC now owns 4,960,078 shares of the real estate investment trust’s stock worth $342,096,000 after acquiring an additional 4,036,826 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Realty Income by 4.2% during the second quarter. Vanguard Group Inc. now owns 50,385,673 shares of the real estate investment trust’s stock worth $3,475,100,000 after acquiring an additional 2,012,975 shares during the last quarter. FMR LLC increased its position in shares of Realty Income by 151.2% during the first quarter. FMR LLC now owns 812,387 shares of the real estate investment trust’s stock worth $59,760,000 after acquiring an additional 488,931 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Realty Income by 26.4% during the second quarter. California Public Employees Retirement System now owns 2,199,550 shares of the real estate investment trust’s stock worth $151,703,000 after acquiring an additional 459,043 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Realty Income by 5.2% during the second quarter. Northern Trust Corp now owns 5,466,940 shares of the real estate investment trust’s stock worth $377,055,000 after acquiring an additional 268,914 shares during the last quarter. 70.80% of the stock is currently owned by institutional investors.
About Realty Income
Realty Income, The Monthly Dividend Company, is an S&P 500 company dedicated to providing stockholders with dependable monthly income. The company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 5,700 real estate properties owned under long-term lease agreements with regional and national commercial tenants.
Further Reading: Dividend Reinvestment Plan (DRIP)
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