Realty Income Co. (NYSE:O) Expected to Announce Quarterly Sales of $446.46 Million

Wall Street brokerages expect that Realty Income Co. (NYSE:O) will announce $446.46 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Realty Income’s earnings, with estimates ranging from $443.24 million to $452.27 million. Realty Income reported sales of $414.64 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.7%. The business is scheduled to issue its next earnings results on Monday, August 2nd.

According to Zacks, analysts expect that Realty Income will report full year sales of $1.86 billion for the current fiscal year, with estimates ranging from $1.77 billion to $2.14 billion. For the next financial year, analysts forecast that the firm will post sales of $1.97 billion, with estimates ranging from $1.78 billion to $2.08 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Realty Income.

Realty Income (NYSE:O) last issued its quarterly earnings results on Sunday, May 2nd. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.04). Realty Income had a return on equity of 3.17% and a net margin of 20.51%. The company had revenue of $442.80 million for the quarter, compared to analysts’ expectations of $413.59 million. During the same quarter in the previous year, the business earned $0.88 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis.

Several brokerages recently weighed in on O. BMO Capital Markets lowered Realty Income from an “outperform” rating to a “market perform” rating in a report on Thursday, May 6th. Morgan Stanley lifted their target price on shares of Realty Income from $74.00 to $81.00 and gave the stock an “overweight” rating in a research note on Thursday, June 3rd. Finally, Mizuho upgraded shares of Realty Income from a “neutral” rating to a “buy” rating and set a $77.00 price target on the stock in a research note on Thursday, June 3rd. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Realty Income has an average rating of “Buy” and an average target price of $71.75.

Several hedge funds have recently modified their holdings of O. Norges Bank purchased a new position in Realty Income during the fourth quarter worth about $219,493,000. BlackRock Inc. grew its holdings in shares of Realty Income by 6.3% during the fourth quarter. BlackRock Inc. now owns 34,281,689 shares of the real estate investment trust’s stock worth $2,131,293,000 after purchasing an additional 2,031,369 shares in the last quarter. Morgan Stanley increased its position in shares of Realty Income by 86.4% in the fourth quarter. Morgan Stanley now owns 3,607,707 shares of the real estate investment trust’s stock worth $224,290,000 after purchasing an additional 1,672,570 shares during the last quarter. Resolution Capital Ltd raised its stake in Realty Income by 26.3% in the fourth quarter. Resolution Capital Ltd now owns 4,533,580 shares of the real estate investment trust’s stock valued at $281,853,000 after purchasing an additional 944,583 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Realty Income by 21.7% during the fourth quarter. Bank of New York Mellon Corp now owns 4,404,350 shares of the real estate investment trust’s stock valued at $273,819,000 after purchasing an additional 785,327 shares during the last quarter. Institutional investors own 70.30% of the company’s stock.

NYSE:O traded down $0.86 during trading hours on Tuesday, reaching $70.22. The stock had a trading volume of 145,994 shares, compared to its average volume of 3,200,850. The firm has a market capitalization of $26.23 billion, a PE ratio of 72.29, a P/E/G ratio of 5.09 and a beta of 0.73. The stock has a 50 day moving average of $67.71. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.74. Realty Income has a 12-month low of $56.33 and a 12-month high of $71.84.

The company also recently announced a may 21 dividend, which will be paid on Tuesday, June 15th. Investors of record on Tuesday, June 1st will be issued a dividend of $0.235 per share. This represents a yield of 4.2%. The ex-dividend date of this dividend is Friday, May 28th. Realty Income’s dividend payout ratio (DPR) is presently 83.19%.

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 6,500 real estate properties owned under long-term lease agreements with our commercial clients.

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Earnings History and Estimates for Realty Income (NYSE:O)

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