Analysts forecast that Realty Income Corp (NYSE:O) will announce sales of $334.21 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Realty Income’s earnings, with the highest sales estimate coming in at $339.42 million and the lowest estimate coming in at $326.81 million. Realty Income posted sales of $306.92 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.9%. The firm is expected to issue its next earnings report after the market closes on Wednesday, October 31st.
On average, analysts expect that Realty Income will report full year sales of $1.31 billion for the current financial year, with estimates ranging from $1.27 billion to $1.33 billion. For the next financial year, analysts expect that the firm will report sales of $1.41 billion, with estimates ranging from $1.32 billion to $1.45 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Realty Income.
Realty Income (NYSE:O) last posted its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.34 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.45). The firm had revenue of $328.90 million for the quarter, compared to analysts’ expectations of $311.95 million. Realty Income had a return on equity of 5.05% and a net margin of 25.96%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.76 earnings per share.
O has been the subject of several research analyst reports. Janney Montgomery Scott downgraded Realty Income from a “buy” rating to a “neutral” rating and set a $44.00 target price for the company. in a research report on Wednesday, August 29th. They noted that the move was a valuation call. JPMorgan Chase & Co. lifted their target price on Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a research report on Monday, September 17th. Mitsubishi UFJ Financial Group upgraded Realty Income from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $54.00 to $62.00 in a research report on Tuesday, July 10th. Wells Fargo & Co set a $65.00 target price on Realty Income and gave the stock a “buy” rating in a research report on Tuesday, September 4th. Finally, Morgan Stanley downgraded Realty Income from an “overweight” rating to an “equal” rating and set a $31.00 target price for the company. in a research report on Monday, October 1st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $56.47.
In other Realty Income news, Director Gregory Mclaughlin sold 3,100 shares of the business’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $58.00, for a total value of $179,800.00. Following the completion of the transaction, the director now directly owns 16,886 shares in the company, valued at $979,388. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Case sold 35,000 shares of the business’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $57.70, for a total transaction of $2,019,500.00. Following the completion of the transaction, the chief executive officer now owns 158,961 shares of the company’s stock, valued at $9,172,049.70. The disclosure for this sale can be found here. Insiders sold 89,067 shares of company stock valued at $5,142,150 over the last 90 days. 0.20% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in O. Summit Trail Advisors LLC raised its holdings in Realty Income by 3,303.4% in the first quarter. Summit Trail Advisors LLC now owns 106,458 shares of the real estate investment trust’s stock worth $106,000 after purchasing an additional 103,330 shares in the last quarter. Clarus Wealth Advisors purchased a new stake in shares of Realty Income during the second quarter worth about $114,000. Perigon Wealth Management LLC grew its stake in shares of Realty Income by 135.7% during the first quarter. Perigon Wealth Management LLC now owns 2,659 shares of the real estate investment trust’s stock worth $138,000 after acquiring an additional 1,531 shares during the last quarter. NEXT Financial Group Inc purchased a new stake in shares of Realty Income during the third quarter worth about $172,000. Finally, New England Asset Management Inc. purchased a new stake in shares of Realty Income during the second quarter worth about $178,000. Institutional investors and hedge funds own 68.20% of the company’s stock.
NYSE O traded down $0.11 on Monday, hitting $55.85. 2,230,108 shares of the stock were exchanged, compared to its average volume of 1,976,204. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $16.50 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 4.04 and a beta of 0.11. Realty Income has a 52-week low of $47.25 and a 52-week high of $59.24.
The company also recently disclosed a oct 18 dividend, which will be paid on Monday, October 15th. Investors of record on Monday, October 1st will be issued a $0.2205 dividend. This is an increase from Realty Income’s previous oct 18 dividend of $0.22. This represents a dividend yield of 4.62%. The ex-dividend date of this dividend is Friday, September 28th. Realty Income’s payout ratio is presently 86.60%.
Realty Income Company Profile
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 5,400 real estate properties owned under long-term lease agreements with regional and national commercial tenants.
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