Realty Income (NYSE:O) Issues FY24 Earnings Guidance

Realty Income (NYSE:O) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of $4.17-$4.21 for the period, compared to the consensus EPS estimate of $4.23.

Analyst Ratings Changes

A number of brokerages have issued reports on O. JPMorgan Chase & Co. increased their price target on Realty Income from $60.00 to $67.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 3rd. Royal Bank of Canada increased their price objective on shares of Realty Income from $58.00 to $64.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Robert W. Baird increased their price objective on shares of Realty Income from $57.00 to $58.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Morgan Stanley reissued an “equal weight” rating and set a $62.00 price objective on shares of Realty Income in a report on Tuesday, August 6th. Finally, Wedbush started coverage on shares of Realty Income in a report on Monday, August 19th. They issued a “neutral” rating and a $64.00 price target for the company. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $63.94.

Realty Income Trading Up 0.7 %

Realty Income stock traded up $0.41 during midday trading on Monday, reaching $59.29. The stock had a trading volume of 4,672,266 shares, compared to its average volume of 5,667,947. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.66. Realty Income has a 52-week low of $49.52 and a 52-week high of $64.88. The firm has a market cap of $51.63 billion, a price-to-earnings ratio of 54.90, a price-to-earnings-growth ratio of 4.13 and a beta of 0.99. The company has a fifty day moving average of $62.28 and a 200 day moving average of $57.77.

Realty Income (NYSE:O) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the company earned $1.00 earnings per share. The business’s revenue for the quarter was up 31.4% compared to the same quarter last year. On average, analysts anticipate that Realty Income will post 4.2 earnings per share for the current fiscal year.

Realty Income Dividend Announcement

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

Insider Buying and Selling

In other news, Director A. Larry Chapman sold 5,000 shares of the firm’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 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 legal filing with the SEC, which can be accessed through this link. In other news, Director A. Larry Chapman sold 5,000 shares of the firm’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 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 legal filing with the SEC, which can be accessed through this link. Also, Director Mary Hogan Preusse sold 1,712 shares of Realty Income stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total transaction 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. 0.10% of the stock is currently owned by corporate 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.