Realty Income Corp. (O) Downgraded by Zacks Investment Research
Realty Income Corp. (NYSE:O) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
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 equities research analysts have also recently commented on the company. Vetr cut Realty Income Corp. from a “strong-buy” rating to a “buy” rating and set a $74.01 target price on the stock. in a research note on Wednesday, September 21st. Stifel Nicolaus cut their target price on Realty Income Corp. from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, November 14th. Wunderlich cut their target price on Realty Income Corp. from $60.00 to $54.00 and set a “sell” rating on the stock in a research note 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 target price on the stock. Finally, BTIG Research initiated coverage on Realty Income Corp. in a research note on Thursday, August 25th. They issued a “neutral” rating on the stock. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. Realty Income Corp. has a consensus rating of “Hold” and an average target price of $61.86.
Shares of Realty Income Corp. (NYSE:O) opened at 55.44 on Thursday. The company has a 50-day moving average price of $58.34 and a 200 day moving average price of $64.20. The stock has a market cap of $14.34 billion, a price-to-earnings ratio of 50.22 and a beta of 0.41. Realty Income Corp. has a one year low of $48.37 and a one year high of $72.30.
Realty Income Corp. (NYSE:O) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $0.73 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.73. The company had revenue of $277.20 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 earnings per share. Equities research analysts expect that Realty Income Corp. will post $2.86 earnings per share for the current year.
The company also recently announced a dec 16 dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be issued 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 dividend payout ratio is 220.00%.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. HighPoint Advisor Group LLC increased its position in Realty Income Corp. by 7.8% in the third quarter. HighPoint Advisor Group LLC now owns 8,743 shares of the company’s stock worth $480,000 after buying an additional 633 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Realty Income Corp. by 7.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 489,502 shares of the company’s stock valued at $32,762,000 after buying an additional 32,312 shares during the period. Mosaic Family Wealth LLC increased its position in Realty Income Corp. by 15.9% in the third quarter. Mosaic Family Wealth LLC now owns 3,194 shares of the company’s stock valued at $214,000 after buying an additional 437 shares during the period. Kalos Management Inc. increased its position in Realty Income Corp. by 0.3% in the third quarter. Kalos Management Inc. now owns 44,338 shares of the company’s stock valued at $2,968,000 after buying an additional 127 shares during the period. Finally, Ameritas Investment Partners Inc. increased its position in Realty Income Corp. by 151.0% in the third quarter. Ameritas Investment Partners Inc. now owns 12,781 shares of the company’s stock valued at $855,000 after buying an additional 7,688 shares during the period. 68.30% of the stock is currently 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.
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