Realty Income (NYSE:O) Updates FY24 Earnings Guidance

Realty Income (NYSE:O) updated its FY24 earnings guidance on Monday. 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.

Realty Income Trading Down 0.4 %

NYSE:O traded down $0.24 during mid-day trading on Wednesday, hitting $54.78. 6,600,660 shares of the company’s stock were exchanged, compared to its average volume of 6,837,354. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.64. Realty Income has a fifty-two week low of $45.03 and a fifty-two week high of $64.18. The company has a 50 day simple moving average of $52.94 and a 200-day simple moving average of $53.74. The firm has a market capitalization of $47.17 billion, a P/E ratio of 50.72, a PEG ratio of 5.73 and a beta of 0.92.

Realty Income (NYSE:O) last issued its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.16 EPS 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 analyst estimates of $1.15 billion. Realty Income had a return on equity of 4.06% and a net margin of 21.39%. Realty Income’s revenue for the quarter was up 33.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 EPS. As a group, research analysts expect that Realty Income will post 4.16 earnings per share for the current year.

Realty Income Announces Dividend

The business also recently declared a may 24 dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a $0.257 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a dividend yield of 5.9%. Realty Income’s payout ratio is 285.19%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, Director A. Larry Chapman sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $54.23, for a total transaction of $271,150.00. Following the transaction, the director now directly 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 the SEC website. 0.10% of the stock is owned by company 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.