Attention Seeking Stock: Realty Income Corporation (NYSE: O)

On 25 Nov 2019, Realty Income Corporation (NYSE: O) spotted trading -7.14% off 52-week high price. On the other end, the stock has been noted 27.32% away from the low price over the last 52-weeks. The stock changed 0.10% to recent value of $76.3. The stock transacted 1513860 shares during most recent day however it has an average volume of 1686.41K shares. The company has 332.27M of outstanding shares and 325.27M shares were floated in the market.

Realty Income Corporation (O) recently reported operating results for the third quarter and nine months ended September 30, 2019.

For the quarter ended September 30, 2019:

  • Net income per share was $0.32
  • AFFO per share increased 2.5% to $0.83, contrast to the quarter ended September 30, 2018
  • Invested $411.5M in 51 properties and properties under development or expansion
  • Raised $572.4M from the sale of ordinary stock
  • Reported transaction to acquire 454 properties from CIM Real Estate Finance Trust, Inc. (“CMFT”) for about $1.25B in cash

Dividend Increases
In September 2019, Realty Income reported the 88th consecutive quarterly dividend increase, which is the 103rd increase in the amount of the dividend since the company’s listing on the New York Stock Exchange (NYSE) in 1994. The annualized dividend amount as of September 30, 2019 was $2.724 per share. The amount of monthly dividends paid per share increased 3.0% to $0.680 in the third quarter of 2019, as contrast to $0.660 for the same quarter of 2018. During the third quarter of 2019, the company distributed $216.2M in ordinary dividends to shareholders, representing 81.5% of its AFFO of $265.4M.

Liquidity and Capital Markets

Capital Raising
During the quarter ended September 30, 2019, Realty Income raised $572.4M from the sale of ordinary stock at a weighted average price of $74.41 per share.

2019 Earnings Guidance

We estimate AFFO per share for 2019 of $3.29 to $3.34. AFFO adjusts FFO for exclusive revenue and expense items, which are not as pertinent to the measurement of Realty Income’s ongoing operating performance.

We estimate FFO per share for 2019 of $3.26 to $3.31. FFO per share for 2019 is based on a net income per share range of $1.32 to $1.37, plus estimated real estate depreciation and impairments of $2.00 per share, and reduced by potential estimated gains on sales of investment properties of $0.06 per share (in accordance with NAREIT’s definition of FFO).

The price moved ahead of -2.69% from the mean of 20 days, -2.16% from mean of 50 days SMA and performed 4.97% from mean of 200 days price. Company’s performance for the week was -2.52%, -5.66% for month and YTD performance remained 21.03%.

 

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