Realty Income Corporation (NYSE:O) Expected to Post Earnings of $0.76 Per Share

Brokerages expect Realty Income Corporation (NYSE:O) to post $0.76 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Realty Income Corporation’s earnings, with the lowest EPS estimate coming in at $0.70 and the highest estimate coming in at $0.77. Realty Income Corporation posted earnings per share of $0.71 during the same quarter last year, which would indicate a positive year-over-year growth rate of 7%. The business is expected to issue its next quarterly earnings results after the market closes on Wednesday, July 26th.

According to Zacks, analysts expect that Realty Income Corporation will report full year earnings of $3.01 per share for the current financial year, with EPS estimates ranging from $2.93 to $3.04. For the next fiscal year, analysts expect that the business will post earnings of $3.17 per share, with EPS estimates ranging from $3.10 to $3.22. Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow Realty Income Corporation.

Realty Income Corporation (NYSE:O) last issued its earnings results on Tuesday, April 25th. The real estate investment trust reported $0.76 EPS for the quarter, beating the consensus estimate of $0.75 by $0.01. The company had revenue of $298.03 million during the quarter, compared to analysts’ expectations of $281.11 million. Realty Income Corporation had a net margin of 29.47% and a return on equity of 5.16%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 EPS.

O has been the subject of several research analyst reports. Canaccord Genuity initiated coverage on shares of Realty Income Corporation in a research note on Tuesday, July 18th. They issued a “buy” rating and a $61.00 price target for the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $65.00 price target on shares of Realty Income Corporation in a research note on Friday, July 14th. BidaskClub raised shares of Realty Income Corporation from a “sell” rating to a “hold” rating in a research note on Sunday, July 16th. FBR & Co initiated coverage on shares of Realty Income Corporation in a research note on Monday, July 17th. They issued a “market perform” rating and a $56.00 price target for the company. Finally, Morgan Stanley lifted their price target on shares of Realty Income Corporation from $91.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, July 17th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $65.20.

In other news, Director Priya Cherian Huskins sold 8,000 shares of the business’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $56.23, for a total transaction of $449,840.00. Following the completion of the sale, the director now directly owns 20,513 shares of the company’s stock, valued at $1,153,445.99. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.30% of the company’s stock.

Several large investors have recently bought and sold shares of O. Vanguard Group Inc. increased its stake in Realty Income Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 45,979,764 shares of the real estate investment trust’s stock valued at $2,737,174,000 after buying an additional 1,876,658 shares during the last quarter. BlackRock Inc. increased its stake in Realty Income Corporation by 2,423.9% in the first quarter. BlackRock Inc. now owns 26,120,005 shares of the real estate investment trust’s stock valued at $1,554,926,000 after buying an additional 25,085,115 shares during the last quarter. State Street Corp increased its stake in Realty Income Corporation by 9.6% in the first quarter. State Street Corp now owns 17,691,072 shares of the real estate investment trust’s stock valued at $1,053,156,000 after buying an additional 1,545,797 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Realty Income Corporation by 226.0% in the first quarter. JPMorgan Chase & Co. now owns 5,299,990 shares of the real estate investment trust’s stock valued at $315,509,000 after buying an additional 3,674,028 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Realty Income Corporation by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 3,516,493 shares of the real estate investment trust’s stock valued at $209,333,000 after buying an additional 90,203 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

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Realty Income Corporation (NYSE O) traded down 0.24% during mid-day trading on Friday, hitting $57.17. 1,379,914 shares of the company were exchanged. The company has a market capitalization of $15.61 billion, a P/E ratio of 49.80 and a beta of 0.31. Realty Income Corporation has a 12-month low of $52.72 and a 12-month high of $72.29. The company’s 50-day moving average is $55.74 and its 200 day moving average is $58.14.

The firm also recently announced a aug 17 dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st will be given a dividend of $0.2115 per share. This represents a dividend yield of 4.63%. The ex-dividend date is Friday, July 28th. Realty Income Corporation’s payout ratio is presently 222.81%.

About Realty Income Corporation

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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Earnings History and Estimates for Realty Income Corporation (NYSE:O)

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