Realty Income Corporation [NYSE: O] gained 1.00% on the last trading session, reaching $64.54 price per share at the time. The company report on March 6, 2023 that Realty Income Announces $1.5 Billion Sale-Leaseback of Convenience Store Properties from EG Group.
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Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced that it has signed a definitive agreement to acquire up to 415 single-tenant convenience store properties located in the U.S. from EG Group, a leading independent convenience retailer based in the United Kingdom. The portfolio is expected to be acquired at an estimated cap rate of approximately 6.9% and have a 20-year weighted average initial lease term. The transaction is expected to close in the second quarter of 2023, subject to customary closing conditions, approvals, and completion of due diligence.
Approximately 80% of the total portfolio annualized contractual rent is expected to be generated from properties in the Northeast U.S., including approximately 116 properties in Massachusetts, 87 properties in New York, and 74 in Florida, which are the top three representative states in the portfolio. Over 80% of the total portfolio annualized contractual rent is expected to be generated from properties operated under the Cumberland Farms brand. Other representative EG Group brands in the portfolio include Tom Thumb, Fastrac and Sprint, and the average property size of the portfolio is approximately 3,700 square feet. Pro forma for the completion of the transaction, the convenience store industry and the EG Group are expected to represent approximately 11.3% and 2.9%, respectively, of Realty Income’s total portfolio annualized contractual rent.
Realty Income Corporation represents 633.67 million in outstanding shares, while the company has a total market value of $42.37 billion with the latest information. O stock price has been found in the range of $63.76 to $64.59.
If compared to the average trading volume of 3.53M shares, O reached a trading volume of 2803437 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $71.02 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.
Exane BNP Paribas have made an estimate for Realty Income Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 17, 2023. The new note on the price target was released on January 09, 2023, representing the official price target for Realty Income Corporation stock. Previously, the target price had yet another raise to $61, while Mizuho analysts kept a Neutral rating on O stock.
The Average True Range (ATR) for Realty Income Corporation is set at 1.05, with the Price to Sales ratio for O stock in the period of the last 12 months amounting to 12.67. The Price to Book ratio for the last quarter was 1.42, with the Price to Cash per share for the same quarter was set at 0.26. Price to Free Cash Flow for O in the course of the last twelve months was 64.68.
Trading performance analysis for O stock
Realty Income Corporation [O] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.61. With this latest performance, O shares dropped by -4.71% in over the last four-week period, additionally sinking by -4.74% over the last 6 months – not to mention a drop of -0.20% 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 44.22, with the RSI for the last a single of trading hit 44.41, and the three-weeks RSI is set at 45.81 for Realty Income Corporation [O]. The present Moving Average for the last 50 days of trading for this stock 65.73, while it was recorded at 64.26 for the last single week of trading, and 65.87 for the last 200 days.
Realty Income Corporation [O]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Realty Income Corporation [O] shares currently have an operating margin of +32.65 and a Gross Margin at +43.27. Realty Income Corporation’s Net Margin is presently recorded at +26.01.
Return on Equity for this stock inclined to 3.23, with Return on Assets sitting at 1.87.
Realty Income Corporation [O]: An earnings per share (EPS) analysis
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 22.62%.
An analysis of insider ownership at Realty Income Corporation [O]
There are presently around $34,793 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 100,758,107, which is approximately 2.274% of the company’s market cap and around 0.13% of the total institutional ownership; BLACKROCK INC., holding 58,675,094 shares of the stock with an approximate value of $3.79 billion in O stocks shares; and STATE STREET CORP, currently with $3.24 billion in O stock with ownership of nearly 6.736% of the company’s market capitalization.
Positions in Realty Income Corporation stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 647 institutional holders increased their position in Realty Income Corporation [NYSE:O] by around 39,136,278 shares. Additionally, 427 investors decreased positions by around 13,855,429 shares, while 148 investors held positions by with 486,093,475 shares. The mentioned changes placed institutional holdings at 539,085,182 shares, according to the latest SEC report filing. O stock had 150 new institutional investments in for a total of 6,472,854 shares, while 98 institutional investors sold positions of 2,793,285 shares during the same period.