Realty Income Corp (NYSE:O) – Investment analysts at Capital One Financial reduced their Q2 2019 earnings per share (EPS) estimates for Realty Income in a research note issued on Monday, July 15th. Capital One Financial analyst C. Lucas now anticipates that the real estate investment trust will post earnings of $0.82 per share for the quarter, down from their prior forecast of $0.83. Capital One Financial currently has a “Equal Weight” rating on the stock. Capital One Financial also issued estimates for Realty Income’s Q3 2019 earnings at $0.83 EPS, Q4 2019 earnings at $0.84 EPS, FY2019 earnings at $3.31 EPS, Q1 2020 earnings at $0.85 EPS, Q2 2020 earnings at $0.85 EPS, Q4 2020 earnings at $0.87 EPS and FY2020 earnings at $3.45 EPS.
Other equities research analysts have also recently issued reports about the stock. Morgan Stanley lifted their price target on shares of Visa from $175.00 to $191.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Zacks Investment Research cut shares of HEXO from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Citigroup set a $74.00 price objective on shares of Realty Income and gave the company a “hold” rating in a research note on Tuesday, June 11th. Finally, Stifel Nicolaus raised their price objective on shares of Realty Income from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $66.00.
Realty Income (NYSE:O) last announced its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.37 earnings per share 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 company had revenue of $354.40 million for the quarter, compared to analyst estimates of $335.37 million. During the same quarter in the prior year, the business earned $0.29 earnings per share. Realty Income’s revenue was up 11.3% on a year-over-year basis.
Institutional investors have recently modified their holdings of the stock. Investors Research Corp purchased a new position in Realty Income in the first quarter worth approximately $27,000. Cornerstone Advisors Inc. lifted its stake in Realty Income by 245.9% in the first quarter. Cornerstone Advisors Inc. now owns 377 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 268 shares during the last quarter. Cascade Investment Advisors Inc. lifted its stake in Realty Income by 900.0% in the first quarter. Cascade Investment Advisors Inc. now owns 400 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 360 shares during the last quarter. Somerset Trust Co lifted its stake in Realty Income by 192.3% in the first quarter. Somerset Trust Co now owns 456 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 300 shares during the last quarter. Finally, Icon Wealth Partners LLC purchased a new position in Realty Income in the first quarter worth approximately $37,000. Institutional investors own 69.23% of the company’s stock.
In related news, EVP Benjamin N. Fox sold 2,631 shares of Realty Income stock in a transaction that occurred on Friday, May 24th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronald Merriman sold 6,000 shares of Realty Income stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $70.72, for a total transaction of $424,320.00. Following the completion of the transaction, the director now owns 18,075 shares of the company’s stock, valued at approximately $1,278,264. The disclosure for this sale can be found here. In the last three months, insiders sold 19,460 shares of company stock valued at $1,366,521. Insiders own 0.20% of the company’s stock.
The firm also recently disclosed a aug 19 dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be paid a $0.2265 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. Realty Income’s payout ratio is 85.27%.
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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