Realty Income Corp. [NYSE: O] slipped around -0.94 points on Monday, while shares priced at $55.58 at the close of the session, down -1.66%. The company report on January 19, 2024 at 10:04 PM that Realty Income Announces Expiration and Final Results of Exchange Offer and Consent Solicitations.
Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced the final results of its previously announced offers to exchange all validly tendered and accepted notes of each series listed in the table below (collectively, the “Spirit Notes”) previously issued by Spirit Realty, L.P., for new notes to be issued by Realty Income (collectively, the “Realty Notes”), and the related solicitation of consents from holders of the Spirit Notes to amend the indenture governing the Spirit Notes to, among other things, eliminate substantially all of the restrictive covenants in such indenture (the “Proposed Amendments”). A Registration Statement on Form S-4 (File No. 333-276143) (the “Registration Statement”) relating to the issuance of the Realty Notes was filed with the U.S. Securities and Exchange Commission (“SEC”) on December 19, 2023, was amended by Amendment No. 1 to Form S-4 filed with the SEC on January 2, 2024, and was declared effective by the SEC on January 3, 2024. A prospectus, which forms a part of the Registration Statement, was filed with the SEC and dated January 3, 2024 (the “Prospectus”).
As of 5:00 p.m., New York City time, on January 19, 2024 (the “Expiration Date”), the aggregate principal amounts listed in the table below of each series of Spirit Notes had been validly tendered and not validly withdrawn in connection with the exchange offers and consent solicitations (together, the “Exchange Offers”). Consummation of the Exchange Offers remains subject to certain conditions being met, including, among other things, (i) the receipt of valid consents to the Proposed Amendments from the holders of at least a majority of the outstanding aggregate principal amount of each series of Spirit Notes, each voting as separate series and (ii) the consummation of the Merger (as defined in the Prospectus), which cannot be waived and is currently expected to close on January 23, 2024, subject to customary closing conditions. The final settlement of the Exchange Offers is expected to take place on or about January 23, 2024.
Compared to the average trading volume of 7.21M shares, O reached a trading volume of 45718202 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Realty Income Corp. [O]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for O shares is $61.52 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 2.00. 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 Corp. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 13, 2023.
The Average True Range (ATR) for Realty Income Corp. is set at 1.19, with the Price to Sales ratio for O stock in the period of the last 12 months amounting to 10.34. The Price to Book ratio for the last quarter was 1.27, with the Price to Cash per share for the same quarter was set at 0.48. Price to Free Cash Flow for O in the course of the last twelve months was 14.62.
How has O stock performed recently?
Realty Income Corp. [O] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.64. With this latest performance, O shares dropped by -2.70% in over the last four-week period, additionally sinking by -11.43% over the last 6 months – not to mention a drop of -14.90% 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 41.29, with the RSI for the last a single of trading hit 32.68, and the three-weeks RSI is set at 46.44 for Realty Income Corp. [O]. The present Moving Average for the last 50 days of trading for this stock 55.56, while it was recorded at 56.75 for the last single week of trading, and 57.00 for the last 200 days.
Earnings analysis for Realty Income Corp. [O]
With the latest financial reports released by the company, Realty Income Corp. posted 0.36/share EPS, while the average EPS was predicted by analysts to be reported at 0.31/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 16.10%. 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 Corp. go to 22.62%.
Insider trade positions for Realty Income Corp. [O]
The top three institutional holders of O stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in O stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in O stock with ownership which is approximately 5.8325%.
