Realty Income (NYSE:O) Issues Earnings Results

Realty Income (NYSE:O) posted its quarterly earnings data on Monday. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.75), Zacks reports. Realty Income had a net margin of 17.89% and a return on equity of 2.36%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the company earned $1.02 EPS. The company’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 Price Performance

Shares of O opened at $58.83 on Wednesday. The firm has a market capitalization of $51.23 billion, a price-to-earnings ratio of 54.47, a price-to-earnings-growth ratio of 4.09 and a beta of 0.99. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.39 and a current ratio of 1.39. Realty Income has a one year low of $49.52 and a one year high of $64.88. The stock’s fifty day moving average is $62.16 and its 200-day moving average is $57.86.

Realty Income Dividend Announcement

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

Insider Activity

In other news, Director A. Larry Chapman sold 5,000 shares of the firm’s 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 directly owns 5,257 shares of the company’s stock, valued at approximately $319,467.89. 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 is accessible through the SEC website. In other news, Director A. Larry Chapman sold 5,000 shares of the firm’s 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 directly owns 5,257 shares of the company’s stock, valued at approximately $319,467.89. 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 is accessible through the SEC website. Also, 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 transaction, the director now directly owns 26,579 shares in the company, valued at approximately $1,663,313.82. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on O shares. UBS Group upped their price objective 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. Stifel Nicolaus dropped their target price on shares of Realty Income from $70.50 to $70.00 and set a “buy” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. increased their target price on shares of Realty Income from $60.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. Morgan Stanley reissued an “equal weight” rating and set a $62.00 target price on shares of Realty Income in a research report on Tuesday, August 6th. Finally, Scotiabank increased their target price on shares of 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $63.92.

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.