Realty Income Corporation [O] Stock trading around $62.71 per share: What’s Next?

Realty Income Corporation [NYSE: O] closed the trading session at $62.71 on 12/06/22. The day’s price range saw the stock hit a low of $62.27, while the highest price level was $62.935. The company report on December 1, 2022 that Wynn Completes Previously Announced $1.7 Billion Encore Boston Harbor Land and Real Estate Sale Leaseback Transaction.

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Wynn Resorts, Limited (NASDAQ: WYNN) today announced that it has completed the sale of the land and real estate assets of Encore Boston Harbor to Realty Income Corporation (Realty Income, NYSE: O) for $1.7 billion in cash, representing a cash cap rate of 5.9%, having received all necessary regulatory approvals. The net proceeds of the transaction will further strengthen the Company’s global liquidity position to $4.4 billion.

Wynn Resorts will continue to operate the Encore Boston Harbor integrated resort at the five-star standard for which the Company is renowned via a triple net lease arrangement with Realty Income. The lease has an initial annual rent of $100 million for a term of thirty years with one thirty-year renewal option. The rent will escalate annually at a rate of 1.75% for the first ten years and the greater of 1.75% or CPI (capped at 2.5%) over the remaining initial lease term.

The stocks have a year to date performance of -12.40 percent and weekly performance of 0.66 percent. The stock has been moved at -7.86 percent over the last six months. The stock has performed -0.48 percent around the most recent 30 days and changed -8.14 percent over the most recent 3-months.

If compared to the average trading volume of 4.40M shares, O reached to a volume of 5584180 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Realty Income Corporation [O]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for O shares is $68.77 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on O stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Mizuho have made an estimate for Realty Income Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 13, 2022. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Outperform. The new note on the price target was released on June 23, 2022, representing the official price target for Realty Income Corporation stock. Previously, the target price had yet another raise to $73, while Wolfe Research analysts kept a Peer Perform rating on O stock.

The Average True Range (ATR) for Realty Income Corporation is set at 1.28, with the Price to Sales ratio for O stock in the period of the last 12 months amounting to 12.52. The Price to Book ratio for the last quarter was 1.45, with the Price to Cash per share for the same quarter was set at 0.30. Price to Free Cash Flow for O in the course of the last twelve months was 78.92.

O stock trade performance evaluation

Realty Income Corporation [O] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.66. With this latest performance, O shares dropped by -0.48% in over the last four-week period, additionally sinking by -7.86% over the last 6 months – not to mention a drop of -7.89% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for O stock in for the last two-week period is set at 48.63, with the RSI for the last a single of trading hit 45.97, and the three-weeks RSI is set at 49.29 for Realty Income Corporation [O]. The present Moving Average for the last 50 days of trading for this stock 61.20, while it was recorded at 62.75 for the last single week of trading, and 66.80 for the last 200 days.

Realty Income Corporation [O]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Realty Income Corporation [O] shares currently have an operating margin of +46.23 and a Gross Margin at +50.53. Realty Income Corporation’s Net Margin is presently recorded at +17.24.

Return on Equity for this stock inclined to 1.99, with Return on Assets sitting at 1.13.

Earnings per share (EPS) analysis for Realty Income Corporation [O] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for O. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Realty Income Corporation go to 14.10%.

Realty Income Corporation [O]: Insider Ownership positions

There are presently around $32,191 million, or 83.00% of O stock, in the hands of institutional investors. The top three institutional holders of O stocks are: VANGUARD GROUP INC with ownership of 98,517,484, which is approximately 2.809% of the company’s market cap and around 0.12% of the total institutional ownership; BLACKROCK INC., holding 57,015,332 shares of the stock with an approximate value of $3.58 billion in O stocks shares; and STATE STREET CORP, currently with $2.95 billion in O stock with ownership of nearly -0.367% of the company’s market capitalization.

Positions in Realty Income Corporation stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 602 institutional holders increased their position in Realty Income Corporation [NYSE:O] by around 30,553,189 shares. Additionally, 411 investors decreased positions by around 13,571,085 shares, while 169 investors held positions by with 469,205,529 shares. The mentioned changes placed institutional holdings at 513,329,803 shares, according to the latest SEC report filing. O stock had 99 new institutional investments in for a total of 6,973,530 shares, while 101 institutional investors sold positions of 1,887,052 shares during the same period.


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