$308.05 Million in Sales Expected for Realty Income Corporation (O) This Quarter
Analysts expect Realty Income Corporation (NYSE:O) to announce sales of $308.05 million for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Realty Income Corporation’s earnings. The lowest sales estimate is $294.34 million and the highest is $318.37 million. Realty Income Corporation reported sales of $287.84 million during the same quarter last year, which indicates a positive year-over-year growth rate of 7%. The firm is scheduled to issue its next earnings results on Wednesday, February 28th.
According to Zacks, analysts expect that Realty Income Corporation will report full year sales of $308.05 million for the current fiscal year, with estimates ranging from $1.16 billion to $1.23 billion. For the next financial year, analysts forecast that the business will post sales of $1.28 billion per share, with estimates ranging from $1.19 billion to $1.33 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Realty Income Corporation.
Realty Income Corporation (NYSE:O) last issued its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. Realty Income Corporation had a return on equity of 5.11% and a net margin of 29.37%. The business had revenue of $306.90 million for the quarter, compared to analyst estimates of $292.73 million. During the same quarter in the prior year, the firm posted $0.72 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year.
O has been the topic of several research reports. Ladenburg Thalmann Financial Services reaffirmed a “hold” rating on shares of Realty Income Corporation in a research note on Thursday, July 27th. UBS AG upgraded Realty Income Corporation from a “sell” rating to a “neutral” rating and upped their price objective for the company from $52.00 to $57.00 in a report on Friday, September 8th. Vetr upgraded Realty Income Corporation from a “hold” rating to a “buy” rating and set a $58.60 price objective for the company in a report on Thursday, October 19th. Zacks Investment Research downgraded Realty Income Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Finally, FBR & Co set a $56.00 price objective on Realty Income Corporation and gave the company a “hold” rating in a report on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. Realty Income Corporation has a consensus rating of “Hold” and a consensus price target of $65.43.
In other Realty Income Corporation news, Director Gregory Mclaughlin sold 3,200 shares of the stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $58.85, for a total value of $188,320.00. Following the completion of the sale, the director now directly owns 15,986 shares in the company, valued at $940,776.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Joel Tomlinson sold 1,746 shares of the stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $56.45, for a total value of $98,561.70. Following the completion of the sale, the senior vice president now owns 14,913 shares of the company’s stock, valued at $841,838.85. The disclosure for this sale can be found here. Insiders sold 10,549 shares of company stock valued at $593,646 over the last 90 days. Corporate insiders own 0.30% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Moors & Cabot Inc. grew its holdings in shares of Realty Income Corporation by 11.2% during the third quarter. Moors & Cabot Inc. now owns 18,425 shares of the real estate investment trust’s stock worth $1,049,000 after buying an additional 1,860 shares in the last quarter. IFM Investors Pty Ltd bought a new position in shares of Realty Income Corporation during the third quarter worth about $444,000. Wealthcare Advisory Partners LLC bought a new position in shares of Realty Income Corporation during the third quarter worth about $130,000. Ameritas Investment Partners Inc. grew its holdings in shares of Realty Income Corporation by 6.6% during the third quarter. Ameritas Investment Partners Inc. now owns 17,881 shares of the real estate investment trust’s stock worth $1,024,000 after buying an additional 1,100 shares in the last quarter. Finally, Griffin Asset Management Inc. bought a new position in shares of Realty Income Corporation during the third quarter worth about $824,000. Institutional investors and hedge funds own 67.20% of the company’s stock.
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Shares of Realty Income Corporation (NYSE O) traded down $0.01 on Wednesday, hitting $56.48. The stock had a trading volume of 1,077,350 shares, compared to its average volume of 1,758,684. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.78. Realty Income Corporation has a twelve month low of $52.85 and a twelve month high of $63.60. The firm has a market capitalization of $15,920.00, a price-to-earnings ratio of 18.59, a PEG ratio of 4.64 and a beta of 0.28.
The firm also recently declared a dec 17 dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a $0.212 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a dividend yield of 4.49%. Realty Income Corporation’s dividend payout ratio (DPR) is currently 208.20%.
About Realty Income Corporation
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. As of December 31, 2016, the Company owned a diversified portfolio of 4,944 properties located in 49 states and Puerto Rico, with over 83.0 million square feet of leasable space leased to 248 different commercial tenants doing business in 47 separate industries.
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