Realty Income Corp (O) Expected to Post Quarterly Sales of $357.59 Million

Equities analysts predict that Realty Income Corp (NYSE:O) will announce $357.59 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Realty Income’s earnings. The highest sales estimate is $365.73 million and the lowest is $348.17 million. Realty Income reported sales of $328.89 million in the same quarter last year, which indicates a positive year-over-year growth rate of 8.7%. The company is expected to report its next earnings results on Wednesday, August 7th.

On average, analysts expect that Realty Income will report full-year sales of $1.45 billion for the current financial year, with estimates ranging from $1.42 billion to $1.48 billion. For the next financial year, analysts anticipate that the company will report sales of $1.55 billion, with estimates ranging from $1.43 billion to $1.60 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Realty Income.

Realty Income (NYSE:O) last announced its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.37 EPS for the quarter, missing the Zacks’ consensus estimate 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 analyst estimates of $335.37 million. During the same period in the previous year, the business posted $0.29 earnings per share. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year.

A number of equities research analysts have weighed in on the company. Zacks Investment Research downgraded Realty Income from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. Stifel Nicolaus lifted their target price on Realty Income from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Capital One Financial upgraded Realty Income from an “underweight” rating to an “equal weight” rating in a report on Wednesday, May 8th. Wells Fargo & Co lifted their target price on Realty Income from $71.00 to $78.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. They noted that the move was a valuation call. Finally, Citigroup set a $70.00 target price on Realty Income and gave the stock a “hold” rating in a report on Tuesday, February 26th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $61.55.

A number of institutional investors have recently made changes to their positions in O. Cohen & Steers Inc. grew its stake in Realty Income by 190.7% in the fourth quarter. Cohen & Steers Inc. now owns 7,378,766 shares of the real estate investment trust’s stock valued at $465,157,000 after acquiring an additional 4,840,630 shares during the period. Oregon Public Employees Retirement Fund grew its stake in Realty Income by 11,967.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,749,745 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 3,718,673 shares during the period. Ronna Sue Cohen grew its stake in Realty Income by 7,231.1% in the first quarter. Ronna Sue Cohen now owns 3,706,904 shares of the real estate investment trust’s stock valued at $3,707,000 after acquiring an additional 3,656,340 shares during the period. Norges Bank acquired a new stake in Realty Income in the fourth quarter valued at approximately $171,132,000. Finally, Bank of America Corp DE grew its stake in Realty Income by 85.5% in the fourth quarter. Bank of America Corp DE now owns 5,672,755 shares of the real estate investment trust’s stock valued at $357,609,000 after acquiring an additional 2,613,842 shares during the period. 69.84% of the stock is owned by hedge funds and other institutional investors.

Shares of O opened at $70.53 on Monday. Realty Income has a 1 year low of $52.37 and a 1 year high of $74.14. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.80. The stock has a market cap of $22.32 billion, a PE ratio of 22.11, a P/E/G ratio of 4.69 and a beta of 0.16.

The company also recently disclosed a may 19 dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, June 3rd will be paid a $0.226 dividend. The ex-dividend date is Friday, May 31st. This represents a yield of 3.92%. Realty Income’s dividend payout ratio (DPR) is presently 84.95%.

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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Earnings History and Estimates for Realty Income (NYSE:O)

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