Realty Income (NYSE:O) Releases FY24 Earnings Guidance

by · The Markets Daily

Realty Income (NYSE:O – Get Free Report) updated its FY24 earnings guidance on Monday. 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 Price Performance

O stock traded up $0.41 during trading on Monday, hitting $59.29. 4,669,876 shares of the company’s stock traded hands, compared to its average volume of 5,668,026. The business has a fifty day simple moving average of $62.23 and a 200 day simple moving average of $57.82. Realty Income has a 52 week low of $49.52 and a 52 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. The stock has a market capitalization of $51.63 billion, a price-to-earnings ratio of 54.90, a P/E/G ratio of 4.13 and a beta of 0.99.

Realty Income (NYSE:O – Get Free Report) last issued its earnings results on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.07). The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Realty Income had a return on equity of 2.36% and a net margin of 17.89%. Realty Income’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.00 earnings per share. As a group, research analysts expect that Realty Income will post 4.2 EPS for the current fiscal year.

Realty Income Announces Dividend

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

Analyst Ratings Changes

O has been the topic of a number of recent research reports. UBS Group raised their target price on Realty Income from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Stifel Nicolaus increased their target price on Realty Income from $67.50 to $70.25 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Wells Fargo & Company reissued an “equal weight” rating and issued a $65.00 price objective (up from $62.00) on shares of Realty Income in a research report on Tuesday, October 1st. 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 note on Tuesday, August 6th. Finally, Royal Bank of Canada boosted their price objective on shares of Realty Income from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Nine analysts have rated the stock with a hold rating and six 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 an average target price of $63.94.

View Our Latest Report on Realty Income

Insider Buying and Selling

In related news, Director A. Larry Chapman sold 5,000 shares of the business’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 value of $303,850.00. Following the sale, the director now directly owns 5,257 shares in the company, valued at $319,467.89. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director A. Larry Chapman sold 5,000 shares of the business’s stock in a transaction that occurred on 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 approximately $319,467.89. The trade was 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 Mary Hogan Preusse sold 1,712 shares of the firm’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 directly owns 26,579 shares in the company, valued at $1,663,313.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Realty Income Company Profile

(Get Free Report)

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.

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