Vetr downgraded shares of Realty Income Corp. (NYSE:O) from a strong-buy rating to a buy rating in a report published on Wednesday morning. They currently have $74.01 target price on the stock.

Other analysts also recently issued research reports about the stock. Citigroup Inc. raised their price target on shares of Realty Income Corp. from $50.00 to $60.00 and gave the company a sell rating in a report on Thursday, July 7th. RBC Capital Markets reaffirmed a sector perform rating and set a $66.00 price target (up previously from $58.00) on shares of Realty Income Corp. in a report on Monday, August 1st. Stifel Nicolaus raised their price target on shares of Realty Income Corp. from $66.00 to $73.00 and gave the company a buy rating in a report on Thursday, July 28th. Zacks Investment Research raised shares of Realty Income Corp. from a hold rating to a buy rating and set a $79.00 price target on the stock in a report on Wednesday, July 27th. Finally, Royal Bank Of Canada raised their price target on shares of Realty Income Corp. from $58.00 to $66.00 and gave the company a sector perform rating in a report on Monday, August 1st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. Realty Income Corp. has a consensus rating of Hold and a consensus price target of $64.31.

Shares of Realty Income Corp. (NYSE:O) opened at 66.76 on Wednesday. Realty Income Corp. has a 1-year low of $45.65 and a 1-year high of $72.30. The firm has a 50-day moving average of $66.79 and a 200 day moving average of $64.64. The company has a market capitalization of $17.26 billion, a P/E ratio of 61.25 and a beta of 0.39.

Realty Income Corp. (NYSE:O) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by $0.02. The firm had revenue of $260.06 million for the quarter, compared to the consensus estimate of $274.34 million. Realty Income Corp. had a net margin of 27.95% and a return on equity of 5.08%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.69 earnings per share. On average, equities research analysts expect that Realty Income Corp. will post $2.85 earnings per share for the current year.

The company also recently declared a oct 16 dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be issued a dividend of $0.202 per share. The ex-dividend date is Thursday, September 29th. This represents a yield of 3.77%. This is an increase from Realty Income Corp.’s previous oct 16 dividend of $0.20. Realty Income Corp.’s payout ratio is currently 222.02%.

In other news, SVP Benjamin N. Fox sold 2,174 shares of Realty Income Corp. stock in a transaction that occurred on Friday, June 24th. The shares were sold at an average price of $65.79, for a total transaction of $143,027.46. Following the sale, the senior vice president now owns 12,130 shares in the company, valued at $798,032.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ronald Merriman sold 2,500 shares of Realty Income Corp. stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $66.68, for a total transaction of $166,700.00. Following the sale, the director now owns 12,075 shares in the company, valued at approximately $805,161. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Realty Income Corp. by 4.0% in the second quarter. Vanguard Group Inc. now owns 42,640,936 shares of the company’s stock valued at $2,957,575,000 after buying an additional 1,639,015 shares during the last quarter. BlackRock Fund Advisors boosted its stake in Realty Income Corp. by 12.5% in the second quarter. BlackRock Fund Advisors now owns 9,283,036 shares of the company’s stock valued at $643,871,000 after buying an additional 1,032,768 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Realty Income Corp. by 1.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 8,765,143 shares of the company’s stock valued at $607,950,000 after buying an additional 164,986 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Realty Income Corp. by 22.8% in the second quarter. JPMorgan Chase & Co. now owns 4,255,171 shares of the company’s stock valued at $295,138,000 after buying an additional 790,144 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Realty Income Corp. by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 4,057,191 shares of the company’s stock valued at $281,407,000 after buying an additional 117,734 shares in the last quarter. Hedge funds and other institutional investors own 70.97% of the company’s stock.

About Realty Income Corp.

Realty Income Corporation is a real estate investment trust (REIT). The Company is engaged in in-house acquisition, portfolio management, asset management, credit research, real estate research, legal, finance and accounting, information technology and capital markets capabilities. Its portfolio includes approximately 4,540 properties, of which over 4,519 are single-tenant properties, and the remaining are multi-tenant properties.

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