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

Realty Income (NYSE:O) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 4.130-4.210 for the period, compared to the consensus estimate of 4.220. The company issued revenue guidance of -. Realty Income also updated its FY24 guidance to $4.13-4.21 EPS.

Realty Income Trading Down 0.4 %

Shares of Realty Income stock traded down $0.24 on Wednesday, reaching $54.78. 6,600,660 shares of the company were exchanged, compared to its average volume of 6,837,354. The stock has a fifty day moving average price of $52.94 and a 200-day moving average price of $53.74. The firm has a market capitalization of $47.17 billion, a price-to-earnings ratio of 50.72, a price-to-earnings-growth ratio of 5.73 and a beta of 0.92. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.64. Realty Income has a fifty-two week low of $45.03 and a fifty-two week high of $64.18.

Realty Income (NYSE:O) last posted its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.87). Realty Income had a net margin of 21.39% and a return on equity of 4.06%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the firm posted $0.98 earnings per share. The firm’s quarterly revenue was up 33.5% on a year-over-year basis. On average, analysts expect that Realty Income will post 4.16 EPS for the current year.

Realty Income Announces Dividend

The company also recently disclosed a may 24 dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a $0.257 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a dividend yield of 5.9%. Realty Income’s dividend payout ratio is currently 285.19%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on O. Mizuho dropped their price target on Realty Income from $60.00 to $56.00 and set a buy rating for the company in a report on Thursday, March 7th. StockNews.com raised shares of Realty Income from a sell rating to a hold rating in a research report on Thursday, February 8th. Royal Bank of Canada boosted their target price on shares of Realty Income from $58.00 to $60.00 and gave the stock an outperform rating in a report on Thursday, January 11th. Stifel Nicolaus reduced their target price on shares of Realty Income from $67.75 to $65.00 and set a buy rating for the company in a research report on Wednesday, February 21st. Finally, BMO Capital Markets assumed coverage on shares of Realty Income in a report on Tuesday, February 13th. They issued a market perform rating and a $57.00 target price for the company. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Realty Income presently has a consensus rating of Hold and a consensus target price of $60.96.

Insider Activity at Realty Income

In other news, Director A. Larry Chapman sold 5,000 shares of the company’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $54.23, for a total value of $271,150.00. Following the sale, the director now owns 6,257 shares in the company, valued at $339,317.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is owned by company 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.