Several other research analysts have also recently issued reports on O. UBS raised Realty Income from a sell rating to a neutral rating and upped their price target for the company from $52.00 to $57.00 in a report on Friday, September 8th. Vetr raised Realty Income from a hold rating to a buy rating and set a $58.60 price target on the stock in a report on Thursday, October 19th. Zacks Investment Research cut Realty Income from a hold rating to a sell rating in a report on Wednesday, October 25th. FBR & Co set a $56.00 price target on Realty Income and gave the company a hold rating in a report on Thursday, October 26th. Finally, Ladenburg Thalmann Financial Services reaffirmed a hold rating on shares of Realty Income in a report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $64.09.
Realty Income (O) traded down $0.74 on Wednesday, reaching $55.61. The company’s stock had a trading volume of 1,552,100 shares, compared to its average volume of 1,770,580. The firm has a market capitalization of $15,878.61, a P/E ratio of 18.42, a price-to-earnings-growth ratio of 4.59 and a beta of 0.29. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.26 and a quick ratio of 1.26. Realty Income has a 12-month low of $52.85 and a 12-month high of $63.60.
The company also recently announced a jan 17 dividend, which will be paid on Friday, January 12th. Shareholders of record on Tuesday, January 2nd will be paid a dividend of $0.2125 per share. This is an increase from Realty Income’s previous jan 17 dividend of $0.21. This represents a yield of 4.48%. The ex-dividend date is Friday, December 29th. Realty Income’s payout ratio is 208.20%.
In other Realty Income news, CFO Paul M. Meurer sold 5,603 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $54.75, for a total transaction of $306,764.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Joel Tomlinson sold 1,746 shares of the business’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $56.45, for a total transaction of $98,561.70. Following the sale, the senior vice president now directly owns 14,913 shares in the company, valued at $841,838.85. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the business. FCG Advisors LLC increased its stake in shares of Realty Income by 0.5% in the second quarter. FCG Advisors LLC now owns 3,629 shares of the real estate investment trust’s stock worth $200,000 after acquiring an additional 18 shares during the last quarter. JT Stratford LLC increased its stake in shares of Realty Income by 0.5% in the second quarter. JT Stratford LLC now owns 6,701 shares of the real estate investment trust’s stock worth $370,000 after acquiring an additional 35 shares during the last quarter. Eaton Vance Management increased its stake in shares of Realty Income by 0.9% in the second quarter. Eaton Vance Management now owns 5,052 shares of the real estate investment trust’s stock worth $279,000 after acquiring an additional 47 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Realty Income by 2.9% in the second quarter. Parallel Advisors LLC now owns 3,105 shares of the real estate investment trust’s stock worth $177,000 after acquiring an additional 87 shares during the last quarter. Finally, Lincoln National Corp increased its stake in shares of Realty Income by 0.9% in the second quarter. Lincoln National Corp now owns 14,044 shares of the real estate investment trust’s stock worth $775,000 after acquiring an additional 129 shares during the last quarter. 69.92% of the stock is currently owned by institutional investors.
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About Realty Income
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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