Realty Income (NYSE:O) Posts Quarterly Earnings Results, Misses Estimates By $0.87 EPS

Realty Income (NYSE:O) issued its quarterly earnings data on Monday. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.87), RTT News reports. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.15 billion. Realty Income had a return on equity of 4.06% and a net margin of 21.39%. The firm’s revenue was up 33.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.98 EPS. 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

Shares of O stock traded down $0.27 during midday trading on Tuesday, hitting $55.18. 822,285 shares of the company were exchanged, compared to its average volume of 6,773,890. Realty Income has a 52 week low of $45.03 and a 52 week high of $64.18. The firm has a market capitalization of $47.52 billion, a P/E ratio of 43.81, a PEG ratio of 5.73 and a beta of 0.92. The firm’s 50 day moving average price is $52.89 and its two-hundred day moving average price is $53.70. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.28 and a current ratio of 1.28.

Realty Income Announces Dividend

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 given a $0.257 dividend. This represents a dividend yield of 5.9%. The ex-dividend date is Tuesday, April 30th. Realty Income’s payout ratio is presently 244.45%.

Wall Street Analyst Weigh In

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

Insider Activity at Realty Income

In other news, Director A. Larry Chapman sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $54.23, for a total transaction of $271,150.00. Following the completion of the sale, the director now owns 6,257 shares in the company, valued at $339,317.11. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.10% of the stock is owned by company insiders.

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.