Realty Income (NYSE:O) Announces Earnings Results

Realty Income (NYSE:O) posted its quarterly earnings results on Monday. The real estate investment trust reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.87), RTT News reports. 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 during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the business earned $0.98 earnings per share. The firm’s quarterly revenue was up 33.5% on a year-over-year basis. Realty Income updated its FY24 guidance to $4.13-4.21 EPS and its FY 2024 guidance to 4.130-4.210 EPS.

Realty Income Stock Performance

NYSE O opened at $55.43 on Tuesday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.64. Realty Income has a 52-week low of $45.03 and a 52-week high of $64.18. The business’s 50-day moving average price is $52.89 and its 200 day moving average price is $53.70. The firm has a market cap of $47.73 billion, a P/E ratio of 43.99, a P/E/G ratio of 5.73 and a beta of 0.92.

Realty Income Announces Dividend

The business also recently declared a may 24 dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a dividend of $0.257 per share. This represents a dividend yield of 5.9%. The ex-dividend date of this dividend is Tuesday, April 30th. Realty Income’s dividend payout ratio is currently 244.45%.

Insider Buying and Selling

In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of Realty Income stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $339,317.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

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

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.