B. Riley set a $56.00 price objective on Realty Income (NYSE:O) in a report issued on Tuesday. The firm currently has a hold rating on the real estate investment trust’s stock. B. Riley also issued estimates for Realty Income’s Q4 2017 earnings at $0.61 EPS and FY2017 earnings at $2.83 EPS.
A number of other equities research analysts have also recently issued reports on the company. Vetr upgraded Realty Income from a hold rating to a buy rating and set a $58.60 price objective for the company in a report on Monday, November 20th. Zacks Investment Research cut Realty Income from a hold rating to a sell rating in a report on Wednesday, October 25th. Ladenburg Thalmann Financial Services restated a hold rating on shares of Realty Income in a report on Thursday, October 26th. Capital One Financial restated an equal weight rating on shares of Realty Income in a report on Wednesday, October 25th. Finally, Citigroup upgraded Realty Income to a market perform rating in a report on Wednesday, December 20th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $64.09.
Realty Income (NYSE:O) traded down $0.15 during trading on Tuesday, reaching $56.47. The company had a trading volume of 1,544,022 shares, compared to its average volume of 1,720,000. Realty Income has a fifty-two week low of $52.85 and a fifty-two week high of $63.60. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market capitalization of $15,910.00, a PE ratio of 46.29, a P/E/G ratio of 4.33 and a beta of 0.29.
The firm also recently declared a jan 17 dividend, which will be paid on Friday, January 12th. Stockholders of record on Tuesday, January 2nd will be given a $0.2125 dividend. This represents a dividend yield of 4.48%. This is an increase from Realty Income’s previous jan 17 dividend of $0.21. The ex-dividend date is Friday, December 29th. Realty Income’s payout ratio is presently 209.02%.
In other news, CFO Paul M. Meurer sold 5,603 shares of Realty Income stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $54.75, for a total value of $306,764.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Joel Tomlinson sold 1,746 shares of Realty Income stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 14,913 shares of the company’s stock, valued at $841,838.85. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in O. BlackRock Inc. raised its position in Realty Income by 3.9% during the second quarter. BlackRock Inc. now owns 27,144,544 shares of the real estate investment trust’s stock valued at $1,497,836,000 after purchasing an additional 1,024,539 shares in the last quarter. Vanguard Group Inc. raised its position in Realty Income by 1.8% during the second quarter. Vanguard Group Inc. now owns 46,814,575 shares of the real estate investment trust’s stock valued at $2,583,229,000 after purchasing an additional 834,811 shares in the last quarter. Standard Life Investments LTD acquired a new position in Realty Income during the second quarter valued at approximately $29,611,000. JPMorgan Chase & Co. raised its position in Realty Income by 10.9% during the third quarter. JPMorgan Chase & Co. now owns 4,436,861 shares of the real estate investment trust’s stock valued at $256,540,000 after purchasing an additional 437,803 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Realty Income by 92.8% during the second quarter. Principal Financial Group Inc. now owns 790,148 shares of the real estate investment trust’s stock valued at $43,600,000 after purchasing an additional 380,379 shares in the last quarter. Institutional investors and hedge funds own 69.92% of the company’s stock.
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.
Receive News & Ratings for Realty Income Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Realty Income and related companies with MarketBeat.com's FREE daily email newsletter.