Zacks Investment Research downgraded shares of Realty Income Corp. (NYSE:O) from a buy rating to a hold rating in a report published 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. “

O has been the topic of several other research reports. Stifel Nicolaus increased their price objective on Realty Income Corp. from $66.00 to $73.00 and gave the stock a buy rating in a research note on Thursday, July 28th. Vetr cut Realty Income Corp. from a strong-buy rating to a buy rating and set a $74.01 price objective on the stock. in a research note on Wednesday, September 21st. 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 objective on the stock. BTIG Research initiated coverage on Realty Income Corp. in a research note on Thursday, August 25th. They issued a neutral rating on the stock. Finally, Oppenheimer Holdings Inc. increased their price objective on Realty Income Corp. from $66.00 to $78.00 and gave the stock an outperform rating in a research note on Thursday, July 28th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Realty Income Corp. presently has a consensus rating of Hold and a consensus target price of $61.86.

Analyst Recommendations for Realty Income Corp. (NYSE:O)

Shares of Realty Income Corp. (NYSE:O) opened at 55.44 on Friday. The company’s 50 day moving average price is $58.34 and its 200 day moving average price is $64.20. Realty Income Corp. has a 52-week low of $48.37 and a 52-week high of $72.30. The company has a market capitalization of $14.34 billion, a price-to-earnings ratio of 50.22 and a beta of 0.41.

Realty Income Corp. (NYSE:O) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $0.73 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.73. Realty Income Corp. had a return on equity of 5.04% and a net margin of 28.37%. The business had revenue of $277.20 million for the quarter, compared to the consensus estimate of $279.57 million. During the same period in the prior year, the business posted $0.70 earnings per share. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, analysts predict that Realty Income Corp. will post $2.86 EPS for the current year.

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The firm also recently disclosed 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 is presently 220.00%.

Several hedge funds have recently modified their holdings of O. Vanguard Group Inc. raised its position in shares of Realty Income Corp. by 4.0% in the second quarter. Vanguard Group Inc. now owns 42,640,936 shares of the company’s stock worth $2,957,575,000 after buying an additional 1,639,015 shares during the period. BlackRock Fund Advisors raised its position in shares of Realty Income Corp. by 5.2% in the third quarter. BlackRock Fund Advisors now owns 9,763,826 shares of the company’s stock worth $653,493,000 after buying an additional 480,790 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Realty Income Corp. by 2.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 8,978,607 shares of the company’s stock worth $600,938,000 after buying an additional 213,464 shares during the period. JPMorgan Chase & Co. raised its position in shares of Realty Income Corp. by 22.8% in the second quarter. JPMorgan Chase & Co. now owns 4,255,171 shares of the company’s stock worth $295,138,000 after buying an additional 790,144 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Realty Income Corp. by 0.6% in the third quarter. Bank of New York Mellon Corp now owns 4,079,708 shares of the company’s stock worth $273,055,000 after buying an additional 22,517 shares during the period. Hedge funds and other institutional investors own 68.30% of the company’s stock.

Realty Income Corp. 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. 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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