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

Realty Income (NYSE:O) issued an update on its FY 2024 earnings guidance on Monday morning. 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.

Wall Street Analyst Weigh In

O has been the subject of a number of research analyst reports. UBS Group lifted their price target on Realty Income from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada decreased their price target on shares of Realty Income from $67.00 to $63.00 and set an “outperform” rating on the stock in a report on Wednesday. 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 report on Tuesday, October 1st. Robert W. Baird upped their price objective on Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Finally, Wedbush initiated coverage on Realty Income in a research report on Monday, August 19th. They issued a “neutral” rating and a $64.00 target price for the company. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $63.85.

Realty Income Stock Performance

Shares of Realty Income stock traded down $2.15 on Wednesday, hitting $56.67. 6,441,180 shares of the company’s stock were exchanged, compared to its average volume of 5,670,923. Realty Income has a 1 year low of $49.52 and a 1 year high of $64.88. The company has a 50-day simple moving average of $62.16 and a 200-day simple moving average of $57.86. 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 $49.35 billion, a PE ratio of 51.97, a PEG ratio of 4.09 and a beta of 0.99.

Realty Income (NYSE:O) last released its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.75). Realty Income had a return on equity of 2.36% and a net margin of 17.89%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the company earned $1.02 EPS. The business’s revenue was up 28.1% on a year-over-year basis. As a group, equities analysts anticipate that Realty Income will post 4.2 EPS for the current year.

Realty Income Dividend Announcement

The company also recently disclosed 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 of this dividend is Friday, November 1st. Realty Income’s payout ratio is currently 292.59%.

Insider Buying and Selling

In other news, Director Mary Hogan Preusse sold 1,712 shares of the company’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 owns 26,579 shares of the company’s stock, valued at approximately $1,663,313.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total value of $107,136.96. Following the sale, the director now owns 26,579 shares in the company, valued at approximately $1,663,313.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director A. Larry Chapman sold 5,000 shares of Realty Income stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $60.77, for a total transaction of $303,850.00. Following the completion of the sale, the director now directly owns 5,257 shares in the company, valued at $319,467.89. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

About Realty Income

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.