Realty Income (NYSE:O) Announces Earnings Results

Realty Income (NYSE:O) released its quarterly earnings data on Monday. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.75), Zacks reports. Realty Income had a return on equity of 2.36% and a net margin of 17.89%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the company earned $1.02 earnings per share. The business’s revenue was up 28.1% compared to the same quarter last year. 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 Down 1.5 %

NYSE:O opened at $58.42 on Tuesday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.66. Realty Income has a 12-month low of $49.52 and a 12-month high of $64.88. The stock’s fifty day simple moving average is $62.23 and its 200-day simple moving average is $57.82. The firm has a market capitalization of $50.88 billion, a P/E ratio of 54.90, a P/E/G ratio of 4.09 and a beta of 0.99.

Realty Income Announces Dividend

The firm also recently announced a nov 24 dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.2635 per share. This represents a yield of 5.1%. The ex-dividend date of this dividend is Friday, November 1st. Realty Income’s dividend payout ratio is presently 292.59%.

Insider Buying and Selling at Realty Income

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on O shares. Wells Fargo & Company reissued an “equal weight” rating and set a $65.00 price target (up from $62.00) on shares of Realty Income in a report on Tuesday, October 1st. UBS Group lifted their target price on shares of Realty Income from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Scotiabank increased their price target on Realty Income from $61.00 to $64.00 and gave the stock a “sector perform” rating in a research report on Tuesday, September 17th. Morgan Stanley reiterated an “equal weight” rating and issued a $62.00 price objective on shares of Realty Income in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada increased their target price on Realty Income from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $63.94.

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.