Breaking: A Reversal for Realty Income Corp Is Not Near. The Stock Gaps Down

Breaking: A Reversal for Realty Income Corp Is Not Near. The Stock Gaps Down

The stock of Realty Income Corp (NYSE:O) gapped down by $0.17 today and has $60.80 target or 7.00% below today’s $65.38 share price. The 7 months technical chart setup indicates high risk for the $16.95B company. The gap down was reported on Oct, 4 by Barchart.com. If the $60.80 price target is reached, the company will be worth $1.19B less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 2.32% or $1.55 on October 3, hitting $65.38. Realty Income Corp (NYSE:O) has risen 11.13% since March 1, 2016 and is uptrending. It has underperformed by 1.08% the S&P500.

Analysts await Realty Income Corp (NYSE:O) to report earnings on October, 26. They expect $0.73 EPS, up 4.29% or $0.03 from last year’s $0.7 per share. O’s profit will be $189.26M for 22.39 P/E if the $0.73 EPS becomes a reality. After $0.71 actual EPS reported by Realty Income Corp for the previous quarter, Wall Street now forecasts 2.82% EPS growth.

Realty Income Corp (NYSE:O) Ratings Coverage

Out of 9 analysts covering Realty Income (NYSE:O), 4 rate it a “Buy”, 2 “Sell”, while 3 “Hold”. This means 44% are positive. Realty Income has been the topic of 16 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The rating was initiated by DA Davidson with “Neutral” on Thursday, July 23. The rating was maintained by Stifel Nicolaus on Thursday, October 29 with “Buy”. Wunderlich downgraded Realty Income Corp (NYSE:O) on Tuesday, February 16 to “Sell” rating. The company was maintained on Wednesday, December 30 by Stifel Nicolaus. The firm has “Hold” rating by Zacks given on Tuesday, September 22. Wunderlich initiated Realty Income Corp (NYSE:O) rating on Tuesday, October 27. Wunderlich has “Hold” rating and $47.50 price target. On Tuesday, September 8 the stock rating was upgraded by Stifel Nicolaus to “Buy”. The stock of Realty Income Corp (NYSE:O) earned “Buy” rating by Zacks on Thursday, August 20. The rating was upgraded by Bank of America on Thursday, October 22 to “Buy”. The firm has “Sell” rating by UBS given on Monday, September 26.

According to Zacks Investment Research, “REALTY INCOME CORP. is a fully integrated, self-administered and self-managed real estate company with in-house acquisition, leasing, legal, financial underwriting, porfolio management and capital markets expertise.”

Insitutional Activity: The institutional sentiment increased to 1.35 in Q2 2016. Its up 0.24, from 1.11 in 2016Q1. The ratio is positive, as 44 funds sold all Realty Income Corp shares owned while 158 reduced positions. 65 funds bought stakes while 207 increased positions. They now own 179.48 million shares or 0.49% more from 178.61 million shares in 2016Q1.
Lincoln National has invested 0.16% of its portfolio in Realty Income Corp (NYSE:O). American International Gp reported 102,416 shares or 0% of all its holdings. Moreover, Davis R M Inc has 0.01% invested in Realty Income Corp (NYSE:O) for 4,150 shares. Teachers Insurance & Annuity Association Of America holds 0.84% of its portfolio in Realty Income Corp (NYSE:O) for 275,412 shares. Fdx Advsrs reported 39,206 shares or 0.12% of all its holdings. Kcm Inv Advsr Limited Liability Com holds 185,728 shares or 0.9% of its portfolio. Morgan Stanley last reported 1.83M shares in the company. Leavell Invest Management accumulated 0.36% or 35,125 shares. Boys Arnold owns 7,619 shares or 0.09% of their US portfolio. Marco Inv last reported 0.45% of its portfolio in the stock. Cfo4life Ltd Partnership last reported 7,709 shares in the company. The California-based Whittier has invested 0% in Realty Income Corp (NYSE:O). Argent holds 0.07% or 3,141 shares in its portfolio. Rocky Mountain Advisers Limited Liability has 0.37% invested in the company for 1,000 shares. Deere And, a Illinois-based fund reported 11,297 shares.

Insider Transactions: Since May 18, 2016, the stock had 0 insider buys, and 5 insider sales for $1.24 million net activity. On Wednesday, August 17 MERRIMAN RONALD sold $166,700 worth of the stock or 2,500 shares. 2,000 shares with value of $124,580 were sold by Huskins Priya Cherian on Wednesday, May 18. ALLEN KATHLEEN also sold $281,960 worth of Realty Income Corp (NYSE:O) on Tuesday, August 2. The insider McLaughlin Gregory sold 1,950 shares worth $124,547. Shares for $544,860 were sold by Wenthur Cary.

More notable recent Realty Income Corp (NYSE:O) news were published by: Forbes.com which released: “Realty Income Crosses Above Average Analyst Target” on September 27, 2016, also Fool.com with their article: “10 Reasons to Buy Realty Income and Never Sell” published on September 28, 2016, Forbes.com published: “Ex-Dividend Reminder: Realty Income, Texas Instruments and Waste Connections” on July 26, 2016. More interesting news about Realty Income Corp (NYSE:O) were released by: Forbes.com and their article: “3 Ignored Dividend Stocks That Crush Realty Income” published on September 11, 2016 as well as Fool.com‘s news article titled: “How Risky Is Realty Income Corporation?” with publication date: August 18, 2016.

O Company Profile

Realty Income Corporation, incorporated on March 25, 1997, is a real estate investment trust (REIT). The Firm is engaged in in-house acquisition, portfolio management, asset management, credit research, real estate research, legal, finance and accounting, information technology and capital markets capabilities. The Firm has approximately 4,540 properties in its portfolio, of which over 4,519 are single-tenant properties, and the remaining are multi-tenant properties. The Firm has over 280 lease expirations and re-leased approximately 250 properties. It sold over 30 vacant properties.

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