Realty Income (NYSE:O) Releases FY 2024 Earnings Guidance

Realty Income (NYSE:O) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 4.130-4.210 for the period, compared to the consensus earnings per share estimate of 4.220. The company issued revenue guidance of -. Realty Income also updated its FY24 guidance to $4.13-4.21 EPS.

Realty Income Price Performance

O traded down $0.43 during midday trading on Tuesday, hitting $55.02. 6,354,974 shares of the company traded hands, compared to its average volume of 6,840,320. The company has a market capitalization of $47.38 billion, a price-to-earnings ratio of 43.67, a PEG ratio of 5.73 and a beta of 0.92. The business has a 50 day simple moving average of $52.94 and a two-hundred day simple moving average of $53.74. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.64. Realty Income has a 52-week low of $45.03 and a 52-week high of $64.18.

Realty Income (NYSE:O) last posted its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.87). The business had revenue of $1.26 billion for the quarter, compared to analyst estimates 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 was up 33.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 earnings per share. On average, equities analysts forecast that Realty Income will post 4.16 earnings per share for the current fiscal year.

Realty Income Announces Dividend

The company also recently declared 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 dividend payout ratio is currently 244.45%.

Analyst Upgrades and Downgrades

O has been the topic of several recent analyst reports. Mizuho decreased their price objective on shares of 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 began coverage on shares of Realty Income in a research note on Tuesday, February 13th. They issued a market perform rating and a $57.00 price objective for the company. Stifel Nicolaus cut their target price on shares of Realty Income from $67.75 to $65.00 and set a buy rating on the stock in a research note on Wednesday, February 21st. StockNews.com raised shares of Realty Income from a sell rating to a hold rating in a research report on Thursday, February 8th. Finally, Royal Bank of Canada upped their price objective 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 analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $60.96.

Insider Buying and Selling at Realty Income

In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of Realty Income stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $54.23, for a total transaction of $271,150.00. Following the completion of the transaction, the director now owns 6,257 shares in the company, valued at $339,317.11. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.10% of the stock is owned by corporate insiders.

Realty Income Company Profile

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.