Realty Income (NYSE:O) Issues FY24 Earnings Guidance

Realty Income (NYSE:O) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of $4.13-4.21 for the period, compared to the consensus EPS estimate of $4.22. Realty Income also updated its FY 2024 guidance to 4.130-4.210 EPS.

Realty Income Trading Down 0.1 %

Realty Income stock traded down $0.08 during midday trading on Thursday, hitting $54.71. 1,065,495 shares of the stock were exchanged, compared to its average volume of 6,772,257. 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 stock has a market capitalization of $47.11 billion, a price-to-earnings ratio of 50.78, a PEG ratio of 5.73 and a beta of 0.92. The stock’s 50-day simple moving average is $52.94 and its 200 day simple moving average is $53.74. Realty Income has a fifty-two week low of $45.03 and a fifty-two week high of $64.18.

Realty Income (NYSE:O) last released its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.16 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.87). The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Realty Income had a net margin of 21.39% and a return on equity of 4.06%. The firm’s quarterly revenue was up 33.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 EPS. On average, equities analysts anticipate that Realty Income will post 4.16 EPS for the current year.

Realty Income Dividend Announcement

The firm also recently announced a may 24 dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given 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 (DPR) is presently 285.19%.

Wall Street Analyst Weigh In

O has been the subject of a number of research analyst reports. StockNews.com raised Realty Income from a sell rating to a hold rating in a report on Thursday, February 8th. Stifel Nicolaus dropped 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 report on Wednesday, February 21st. Royal Bank of Canada boosted their price target on shares of Realty Income from $58.00 to $60.00 and gave the company an outperform rating in a research report on Thursday, January 11th. Mizuho decreased their price objective on shares of Realty Income from $60.00 to $56.00 and set a buy rating for the company in a research note on Thursday, March 7th. Finally, BMO Capital Markets started coverage on Realty Income in a research report on Tuesday, February 13th. They set a market perform rating and a $57.00 target price on the stock. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $60.96.

Insider Buying and Selling at Realty Income

In related news, Director A. Larry Chapman sold 5,000 shares of Realty Income stock in a transaction dated 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 approximately $339,317.11. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.10% of the stock is currently owned by 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.