Realty Income (NYSE:O) had its target price lifted by Morgan Stanley from $71.00 to $72.00 in a report issued on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has an equal weight rating on the real estate investment trust’s stock.
Other research analysts have also recently issued research reports about the company. Capital One Financial raised Realty Income from an underweight rating to an equal weight rating in a research report on Wednesday, May 8th. Zacks Investment Research cut HEXO from a hold rating to a sell rating in a report on Wednesday, May 15th. Citigroup set a $74.00 price objective on Realty Income and gave the stock a hold rating in a report on Tuesday, June 11th. Wells Fargo & Co cut Biogen from an outperform rating to a market perform rating in a report on Thursday, March 21st. Finally, Stifel Nicolaus increased their price objective on Realty Income from $70.00 to $75.00 and gave the stock a buy rating in a report on Thursday, April 4th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Realty Income currently has a consensus rating of Hold and a consensus price target of $66.00.
Shares of NYSE O opened at $70.73 on Thursday. Realty Income has a one year low of $54.42 and a one year high of $74.14. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.35 and a quick ratio of 1.35. The company’s fifty day moving average price is $71.06. The stock has a market cap of $22.38 billion, a PE ratio of 22.17, a PEG ratio of 4.80 and a beta of 0.13.
Realty Income (NYSE:O) last issued its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.43). Realty Income had a net margin of 28.70% and a return on equity of 7.65%. The firm had revenue of $354.40 million for the quarter, compared to analysts’ expectations of $335.37 million. During the same period in the prior year, the company earned $0.29 EPS. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. As a group, research analysts forecast that Realty Income will post 3.3 earnings per share for the current fiscal year.
The business also recently disclosed a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be issued a dividend of $0.227 per share. This is a boost from Realty Income’s previous monthly dividend of $0.18. The ex-dividend date is Friday, June 28th. This represents a $2.72 dividend on an annualized basis and a yield of 3.85%. Realty Income’s dividend payout ratio is 85.27%.
In other Realty Income news, EVP Michael R. Pfeiffer sold 10,829 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $69.83, for a total value of $756,189.07. Following the transaction, the executive vice president now directly owns 29,163 shares in the company, valued at approximately $2,036,452.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Benjamin N. Fox sold 2,631 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $70.70, for a total value of $186,011.70. Following the completion of the transaction, the executive vice president now owns 12,812 shares in the company, valued at $905,808.40. The disclosure for this sale can be found here. Insiders have sold a total of 19,460 shares of company stock worth $1,366,521 in the last three months. 0.20% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Investors Research Corp bought a new position in shares of Realty Income during the 1st quarter valued at about $27,000. Cornerstone Advisors Inc. increased its position in shares of Realty Income by 245.9% during the 1st quarter. Cornerstone Advisors Inc. now owns 377 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 268 shares during the last quarter. Cascade Investment Advisors Inc. increased its position in shares of Realty Income by 900.0% during the 1st quarter. Cascade Investment Advisors Inc. now owns 400 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 360 shares during the last quarter. Somerset Trust Co increased its position in shares of Realty Income by 192.3% during the 1st quarter. Somerset Trust Co now owns 456 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 300 shares during the last quarter. Finally, Icon Wealth Partners LLC bought a new position in shares of Realty Income during the 1st quarter valued at about $37,000. Institutional investors and hedge funds own 69.24% 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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