Realty Income (NYSE:O) Issues Quarterly Earnings Results, Misses Expectations By $0.75 EPS

Realty Income (NYSE:O) released its earnings results on Monday. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.75), Zacks reports. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.26 billion. Realty Income had a return on equity of 2.38% and a net margin of 17.57%. Realty Income’s revenue was up 28.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.02 EPS. Realty Income updated its FY24 guidance to $4.17-$4.21 EPS and its FY 2024 guidance to 4.170-4.210 EPS.

Realty Income Stock Performance

NYSE:O opened at $56.97 on Thursday. The firm has a market capitalization of $49.61 billion, a PE ratio of 54.25, a PEG ratio of 4.12 and a beta of 0.99. The stock’s fifty day moving average is $62.06 and its 200 day moving average is $57.85. Realty Income has a fifty-two week low of $49.52 and a fifty-two week high of $64.88. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.39 and a current ratio of 1.39.

Realty Income Dividend Announcement

The business also recently announced a nov 24 dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a $0.2635 dividend. This represents a dividend yield of 5.1%. The ex-dividend date is Friday, November 1st. Realty Income’s dividend payout ratio (DPR) is 300.96%.

Insider Buying and Selling at Realty Income

In other news, Director Mary Hogan Preusse sold 1,712 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total transaction of $107,136.96. Following the transaction, the director now owns 26,579 shares of the company’s stock, valued at approximately $1,663,313.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director A. Larry Chapman sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $60.77, for a total transaction of $303,850.00. Following the transaction, the director now directly owns 5,257 shares of the company’s stock, valued at approximately $319,467.89. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mary Hogan Preusse sold 1,712 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total value of $107,136.96. Following the completion of the sale, the director now owns 26,579 shares of the company’s stock, valued at $1,663,313.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Robert W. Baird lifted their target price on shares of Realty Income from $57.00 to $58.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Scotiabank boosted their price objective on Realty Income from $61.00 to $64.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 17th. Wells Fargo & Company reiterated an “equal weight” rating and set a $65.00 target price (up previously from $62.00) on shares of Realty Income in a research report on Tuesday, October 1st. Wedbush assumed coverage on Realty Income in a report on Monday, August 19th. They issued a “neutral” rating and a $64.00 price target on the stock. Finally, Stifel Nicolaus cut their price objective on shares of Realty Income from $70.50 to $70.00 and set a “buy” rating for the company in a report on Tuesday. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Realty Income currently has an average rating of “Hold” and an average target price of $63.85.

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.