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

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

Analyst Ratings Changes

Several research analysts recently commented on the stock. 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 target on the stock. Royal Bank of Canada lifted their price target on Realty Income from $58.00 to $60.00 and gave the company an outperform rating in a research report on Thursday, January 11th. Stifel Nicolaus reduced their price target on Realty Income from $67.75 to $65.00 and set a buy rating for the company in a report on Wednesday, February 21st. StockNews.com raised shares of Realty Income from a sell rating to a hold rating in a research note on Thursday, February 8th. Finally, Mizuho reduced their price target on Realty Income from $60.00 to $56.00 and set a buy rating on the stock in a report on Thursday, March 7th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $60.96.

Realty Income Stock Performance

O stock traded up $0.19 on Monday, hitting $55.45. The company’s stock had a trading volume of 6,837,498 shares, compared to its average volume of 6,845,817. The stock has a market cap of $47.75 billion, a price-to-earnings ratio of 43.91, a price-to-earnings-growth ratio of 5.73 and a beta of 0.92. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.64. The firm has a 50 day moving average of $52.83 and a two-hundred day moving average of $53.65. Realty Income has a 1 year low of $45.03 and a 1 year high of $64.18.

Realty Income (NYSE:O) last released its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.72). The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Realty Income had a return on equity of 4.06% and a net margin of 21.39%. Realty Income’s quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.00 earnings per share. Equities analysts predict that Realty Income will post 4.16 EPS for the current fiscal year.

Realty Income Announces Dividend

The business also recently disclosed a may 24 dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a dividend of $0.257 per share. This represents a dividend yield of 5.9%. The ex-dividend date is Tuesday, April 30th. Realty Income’s dividend payout ratio is presently 244.45%.

Insider Buying and Selling

In other news, Director A. Larry Chapman sold 5,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 6,257 shares of the company’s stock, valued at $339,317.11. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.10% of the company’s stock.

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.