Realty Income (NYSE:O) Issues FY24 Earnings Guidance

Realty Income (NYSE:O) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $4.17-$4.21 for the period, compared to the consensus estimate of $4.23. Realty Income also updated its FY 2024 guidance to 4.170-4.210 EPS.

Realty Income Stock Performance

O traded down $0.37 on Thursday, hitting $56.63. 3,117,128 shares of the stock traded hands, compared to its average volume of 5,681,553. The business has a fifty day moving average price of $62.06 and a two-hundred day moving average price of $57.85. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $49.32 billion, a PE ratio of 53.93, a P/E/G ratio of 4.12 and a beta of 0.99. Realty Income has a 52 week low of $49.52 and a 52 week high of $64.88.

Realty Income (NYSE:O) last issued its earnings results on Monday, November 4th. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.75). Realty Income had a net margin of 17.57% and a return on equity of 2.38%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the company posted $1.02 earnings per share. The business’s revenue for the quarter was up 28.1% compared to the same quarter last year. On average, research analysts predict that Realty Income will post 4.2 EPS for the current fiscal year.

Realty Income Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wedbush started coverage on Realty Income in a research note on Monday, August 19th. They issued a “neutral” rating and a $64.00 price objective on the stock. Wells Fargo & Company reissued an “equal weight” rating and set a $65.00 price objective (up from $62.00) on shares of Realty Income in a report on Tuesday, October 1st. Stifel Nicolaus lowered their target price on shares of Realty Income from $70.50 to $70.00 and set a “buy” rating on the stock in a report on Tuesday. Robert W. Baird increased their target price on shares of Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Finally, UBS Group boosted their price target on shares of Realty Income from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $63.85.

Insider Buying and Selling

In related news, Director Mary Hogan Preusse sold 1,712 shares of Realty Income stock in a transaction dated Wednesday, September 11th. The stock was 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 directly owns 26,579 shares in the company, valued at $1,663,313.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of Realty Income stock in a transaction dated Friday, August 23rd. The stock was 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 in the company, valued at approximately $319,467.89. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary Hogan Preusse sold 1,712 shares of the stock in a transaction dated Wednesday, September 11th. The stock was 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

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.