Realty Income (NYSE:O) Issues FY24 Earnings Guidance

Realty Income (NYSE:O) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $4.13-4.21 for the period, compared to the consensus EPS estimate of $4.22. Realty Income also updated its FY 2024 guidance to 4.130-4.210 EPS.

Wall Street Analyst Weigh In

Several equities analysts recently commented on O shares. Stifel Nicolaus decreased their price target on shares of Realty Income from $67.75 to $65.00 and set a buy rating on the stock in a research note on Wednesday, February 21st. Mizuho cut their price objective on shares of Realty Income from $60.00 to $56.00 and set a buy rating for the company in a report on Thursday, March 7th. BMO Capital Markets initiated coverage on shares of Realty Income in a report on Tuesday, February 13th. They set a market perform rating and a $57.00 target price on the stock. StockNews.com upgraded shares of Realty Income from a sell rating to a hold rating in a research report on Thursday, February 8th. Finally, Royal Bank of Canada increased their price target on Realty Income from $58.00 to $60.00 and gave the stock an outperform rating in a research report on Thursday, January 11th. Eight research 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, Realty Income presently has a consensus rating of Hold and a consensus price target of $60.96.

Realty Income Price Performance

Shares of NYSE O traded down $0.38 during mid-day trading on Tuesday, hitting $55.07. 2,818,372 shares of the stock traded hands, compared to its average volume of 6,799,057. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.28 and a quick ratio of 1.28. The company has a market cap of $47.42 billion, a PE ratio of 43.83, a price-to-earnings-growth ratio of 5.73 and a beta of 0.92. Realty Income has a twelve month low of $45.03 and a twelve month high of $64.18. The firm has a 50 day simple moving average of $52.89 and a two-hundred day simple moving average of $53.70.

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

Realty Income Announces Dividend

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

Insiders Place Their Bets

In related news, Director A. Larry Chapman sold 5,000 shares of Realty Income stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $54.23, for a total transaction of $271,150.00. Following the completion of the transaction, the director now owns 6,257 shares of the company’s stock, valued at $339,317.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.10% of the company’s stock.

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.