Realty Income (NYSE:O) Updates FY 2024 Earnings Guidance

by · The Markets Daily

Realty Income (NYSE:O – Get Free Report) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 4.170-4.210 for the period, compared to the consensus EPS estimate of 4.270. The company issued revenue guidance of -. Realty Income also updated its FY24 guidance to $4.17-$4.21 EPS.

Analysts Set New Price Targets

O has been the topic of several recent research reports. Royal Bank of Canada raised their target price on shares of Realty Income from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Stifel Nicolaus increased their price target on Realty Income from $67.50 to $70.25 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $65.00 price objective (up from $62.00) on shares of Realty Income in a research note on Tuesday, October 1st. JPMorgan Chase & Co. increased their target price on Realty Income from $60.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. Finally, Scotiabank boosted their target price 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. Nine research 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.com, the stock presently has a consensus rating of “Hold” and an average target price of $63.94.

Check Out Our Latest Stock Analysis on O

Realty Income Stock Up 0.7 %

Shares of NYSE O traded up $0.41 during mid-day trading on Monday, hitting $59.29. The company had a trading volume of 4,689,042 shares, compared to its average volume of 5,668,026. 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 50-day simple moving average of $62.28 and a two-hundred day simple moving average of $57.77. The company has a market capitalization of $51.63 billion, a PE ratio of 54.90, a price-to-earnings-growth ratio of 4.13 and a beta of 0.99. Realty Income has a one year low of $49.52 and a one year high of $64.88.

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 analysts’ consensus estimates of $0.36 by ($0.07). Realty Income had a return on equity of 2.36% and a net margin of 17.89%. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the firm posted $1.00 earnings per share. Realty Income’s quarterly revenue was up 31.4% on a year-over-year basis. On average, equities analysts expect that Realty Income will post 4.2 EPS for the current year.

Realty Income Dividend Announcement

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

Insider Activity at Realty Income

In other news, Director Mary Hogan Preusse sold 1,712 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total transaction of $107,136.96. Following the completion of the sale, the director now owns 26,579 shares in the company, valued at approximately $1,663,313.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction on 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 owns 5,257 shares in the company, valued at $319,467.89. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary Hogan Preusse sold 1,712 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total transaction of $107,136.96. Following the completion of the sale, the director now directly owns 26,579 shares of the company’s stock, valued at approximately $1,663,313.82. The trade was 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.

About Realty Income

(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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