Realty Income (NYSE:O) Issues Earnings Results, Beats Expectations By $0.02 EPS

by · The Markets Daily

Realty Income (NYSE:O – Get Free Report) released its quarterly earnings results on Monday. The real estate investment trust reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02, FiscalAI reports. Realty Income had a net margin of 20.93% and a return on equity of 3.12%. The business had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.43 billion.

Realty Income Stock Up 1.2%

Shares of NYSE:O traded up $0.68 during midday trading on Monday, reaching $57.61. The company had a trading volume of 7,090,137 shares, compared to its average volume of 6,481,200. The stock has a market capitalization of $54.51 billion, a P/E ratio of 42.05, a PEG ratio of 4.44 and a beta of 0.69. The stock’s fifty day moving average price is $57.50 and its 200-day moving average price is $61.60. The company has a debt-to-equity ratio of 0.73, a current ratio of 5.88 and a quick ratio of 5.88. Realty Income has a one year low of $53.15 and a one year high of $67.93.

Realty Income Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be paid a $0.2715 dividend. This represents a $3.26 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date is Friday, October 30th. Realty Income’s payout ratio is 237.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on O shares. Scotiabank cut shares of Realty Income from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $67.00 to $59.00 in a research report on Wednesday, September 23rd. Barclays lowered their target price on Realty Income from $65.00 to $61.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 20th. Weiss Ratings lowered Realty Income from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. Royal Bank Of Canada dropped their target price on Realty Income from $71.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th. Finally, Stifel Nicolaus set a $63.75 price target on Realty Income in a research note on Friday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Realty Income has a consensus rating of “Moderate Buy” and an average price target of $72.34.

Read Our Latest Stock Analysis on O

About Realty Income

(Get Free Report)

Realty Income Corporation is a real estate investment trust (REIT) that owns and manages a diversified portfolio of commercial properties. The company primarily invests in single-tenant properties that are leased to businesses under long-term, net lease agreements, under which tenants generally are responsible for property taxes, insurance and maintenance.

Its portfolio includes retail, grocery, convenience store, industrial, distribution and other commercial properties. Realty Income serves a broad range of tenants and seeks to generate recurring rental income through long-term leases.

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