Realty Income (NYSE:O) Issues Earnings Results

Realty Income (NYSE:O) released its quarterly earnings data on Monday. The real estate investment trust reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.87), RTT News reports. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Realty Income had a return on equity of 4.06% and a net margin of 21.39%. The business’s revenue for the quarter was up 33.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 earnings per share. Realty Income updated its FY24 guidance to $4.13-4.21 EPS and its FY 2024 guidance to 4.130-4.210 EPS.

Realty Income Stock Performance

NYSE:O opened at $54.79 on Thursday. The firm’s 50-day moving average is $52.94 and its 200-day moving average is $53.74. Realty Income has a 52-week low of $45.03 and a 52-week high of $64.18. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.28 and a current ratio of 1.28. The company has a market cap of $47.18 billion, a price-to-earnings ratio of 50.72, a PEG ratio of 5.73 and a beta of 0.92.

Realty Income Dividend Announcement

The business also recently disclosed a may 24 dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a dividend of $0.257 per share. The ex-dividend date is Tuesday, April 30th. This represents a dividend yield of 5.9%. Realty Income’s payout ratio is 285.19%.

Insider Activity at Realty Income

In other news, Director A. Larry Chapman sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $54.23, for a total transaction of $271,150.00. Following the transaction, the director now directly owns 6,257 shares in the company, valued at $339,317.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

O has been the topic of several analyst reports. StockNews.com upgraded Realty Income from a “sell” rating to a “hold” rating in a report on Thursday, February 8th. Stifel Nicolaus dropped their price objective on Realty Income from $67.75 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. Mizuho dropped their price objective on Realty Income from $60.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, March 7th. BMO Capital Markets initiated coverage on Realty Income in a report on Tuesday, February 13th. They set a “market perform” rating and a $57.00 price objective on the stock. Finally, Royal Bank of Canada lifted their target price on Realty Income from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, January 11th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $60.96.

About Realty Income

Realty Income, The Monthly Dividend Company, is an S&P 500 company and member of the S&P 500 Dividend Aristocrats index. We invest in people and places to deliver dependable monthly dividends that increase over time. The company is structured as a real estate investment trust ("REIT"), and its monthly dividends are supported by the cash flow from over 15,450 real estate properties (including properties acquired in the Spirit merger in January 2024) primarily owned under long-term net lease agreements with commercial clients.