Morgan Stanley Raises Realty Income (NYSE:O) Price Target to $75.00

Realty Income (NYSE:O) had its target price hoisted by Morgan Stanley from $72.00 to $75.00 in a research report sent to investors on Tuesday morning, BenzingaRatingsTable reports. The firm currently has an equal weight rating on the real estate investment trust’s stock.

A number of other research firms also recently commented on O. Deutsche Bank assumed coverage on shares of Realty Income in a research note on Tuesday, August 27th. They set a hold rating and a $73.00 price objective for the company. Citigroup set a $74.00 price objective on shares of Realty Income and gave the stock a hold rating in a research note on Tuesday, June 11th. Stifel Nicolaus increased their price objective on shares of Realty Income from $75.00 to $80.00 and gave the stock a buy rating in a research note on Wednesday, September 4th. ValuEngine downgraded shares of Realty Income from a buy rating to a hold rating in a research note on Thursday, August 1st. Finally, Standpoint Research increased their price objective on shares of Realty Income to $83.00 and gave the stock an overweight rating in a research note on Tuesday, September 3rd. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $74.22.

O stock opened at $75.62 on Tuesday. The stock has a 50-day moving average price of $72.99 and a two-hundred day moving average price of $71.16. The stock has a market cap of $24.11 billion, a PE ratio of 23.71, a price-to-earnings-growth ratio of 5.94 and a beta of 0.08. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.80. Realty Income has a 1 year low of $55.55 and a 1 year high of $76.73.

Realty Income (NYSE:O) last released its earnings results on Monday, August 5th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.01. The firm had revenue of $365.50 million during the quarter, compared to analysts’ expectations of $344.42 million. Realty Income had a return on equity of 4.79% and a net margin of 27.86%. The company’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 EPS. On average, analysts forecast that Realty Income will post 3.29 earnings per share for the current fiscal year.

The company also recently announced a sep 19 dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a $0.227 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a yield of 3.6%. Realty Income’s dividend payout ratio (DPR) is currently 85.27%.

In related news, CFO Paul M. Meurer sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $75.33, for a total value of $753,300.00. Following the completion of the sale, the chief financial officer now directly owns 30,468 shares in the company, valued at approximately $2,295,154.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director A. Larry Chapman sold 8,000 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $75.09, for a total transaction of $600,720.00. Following the completion of the sale, the director now owns 14,757 shares of the company’s stock, valued at $1,108,103.13. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Large investors have recently modified their holdings of the stock. Spirit of America Management Corp NY lifted its stake in Realty Income by 8.2% in the 2nd quarter. Spirit of America Management Corp NY now owns 13,830 shares of the real estate investment trust’s stock valued at $953,000 after purchasing an additional 1,050 shares during the last quarter. AGF Investments LLC lifted its position in Realty Income by 27.3% during the second quarter. AGF Investments LLC now owns 4,314 shares of the real estate investment trust’s stock worth $298,000 after acquiring an additional 924 shares during the last quarter. BB&T Securities LLC lifted its position in Realty Income by 0.3% during the second quarter. BB&T Securities LLC now owns 136,802 shares of the real estate investment trust’s stock worth $9,435,000 after acquiring an additional 448 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Realty Income by 108.4% during the second quarter. Canada Pension Plan Investment Board now owns 273,985 shares of the real estate investment trust’s stock worth $18,897,000 after acquiring an additional 142,490 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Realty Income by 5.2% during the second quarter. Northern Trust Corp now owns 5,466,940 shares of the real estate investment trust’s stock worth $377,055,000 after acquiring an additional 268,914 shares during the last quarter. Institutional investors and hedge funds own 70.80% of the company’s stock.

About Realty Income

Realty Income, The Monthly Dividend Company, is an S&P 500 company dedicated to providing stockholders with dependable monthly income. The company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 5,700 real estate properties owned under long-term lease agreements with regional and national commercial tenants.

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Analyst Recommendations for Realty Income (NYSE:O)

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