Realty Income (O) Price Target Raised to $60.00 at Royal Bank of Canada

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Realty Income (NYSE:O) had its price target raised by Royal Bank of Canada from $57.00 to $60.00 in a report published on Tuesday. The firm currently has a sector perform rating on the real estate investment trust’s stock.

Other equities research analysts have also recently issued research reports about the stock. Mizuho set a $58.00 price objective on shares of Realty Income and gave the stock a hold rating in a research note on Monday, August 13th. ValuEngine raised shares of Realty Income from a hold rating to a buy rating in a research note on Tuesday, October 23rd. Bank of America raised their price objective on shares of Realty Income from $53.50 to $57.50 and gave the stock a neutral rating in a research note on Monday, August 13th. Zacks Investment Research cut shares of Realty Income from a hold rating to a sell rating in a research note on Tuesday, July 31st. Finally, Janney Montgomery Scott cut shares of Realty Income from a buy rating to a neutral rating and set a $44.00 price objective on the stock. in a research note on Wednesday, August 29th. They noted that the move was a valuation call. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $56.78.

NYSE:O traded up $0.23 during midday trading on Tuesday, hitting $62.71. The company’s stock had a trading volume of 144,911 shares, compared to its average volume of 2,530,226. Realty Income has a fifty-two week low of $47.25 and a fifty-two week high of $62.50. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.88. The company has a market cap of $18.17 billion, a PE ratio of 20.49, a price-to-earnings-growth ratio of 4.48 and a beta of -0.01.

Realty Income (NYSE:O) last issued its quarterly earnings results on Wednesday, October 31st. The real estate investment trust reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The company had revenue of $338.08 million for the quarter, compared to the consensus estimate of $319.60 million. Realty Income had a net margin of 26.19% and a return on equity of 5.17%. Realty Income’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. Equities research analysts predict that Realty Income will post 3.18 earnings per share for the current fiscal year.

The firm also recently announced a nov 18 dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be given a dividend of $0.2205 per share. The ex-dividend date is Wednesday, October 31st. This represents a dividend yield of 4.56%. Realty Income’s dividend payout ratio (DPR) is 86.60%.

In other news, Director Gregory Mclaughlin sold 3,100 shares of the stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $58.00, for a total transaction of $179,800.00. Following the transaction, the director now owns 16,886 shares in the company, valued at approximately $979,388. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director A. Larry Chapman sold 9,000 shares of the stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $58.56, for a total value of $527,040.00. Following the transaction, the director now owns 18,757 shares in the company, valued at approximately $1,098,409.92. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Large investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in Realty Income by 4.6% in the 2nd quarter. BlackRock Inc. now owns 30,317,687 shares of the real estate investment trust’s stock valued at $1,630,791,000 after purchasing an additional 1,341,367 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Realty Income by 1.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,190,100 shares of the real estate investment trust’s stock valued at $225,390,000 after purchasing an additional 78,488 shares in the last quarter. Bank of America Corp DE lifted its holdings in Realty Income by 1.2% in the 2nd quarter. Bank of America Corp DE now owns 3,007,424 shares of the real estate investment trust’s stock valued at $161,769,000 after purchasing an additional 34,897 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Realty Income by 1.9% in the 3rd quarter. Wells Fargo & Company MN now owns 2,787,774 shares of the real estate investment trust’s stock valued at $158,597,000 after purchasing an additional 50,765 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Realty Income by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,376,984 shares of the real estate investment trust’s stock valued at $127,857,000 after purchasing an additional 32,189 shares in the last quarter. Hedge funds and other institutional investors own 68.44% of the company’s stock.

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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Analyst Recommendations for Realty Income (NYSE:O)

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