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 $4.13-4.21 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

A number of research analysts have weighed in on O shares. Stifel Nicolaus reduced 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 report on Wednesday, February 21st. Mizuho lowered their price target on 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 assumed coverage on Realty Income in a research note on Tuesday, February 13th. They set a market perform rating and a $57.00 price objective on the stock. StockNews.com upgraded Realty Income from a sell rating to a hold rating in a research note on Thursday, February 8th. Finally, Royal Bank of Canada upped their price target on Realty Income from $58.00 to $60.00 and gave the stock an outperform rating in a report on Thursday, January 11th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Realty Income presently has an average rating of Hold and a consensus price target of $60.96.

Realty Income Stock Performance

NYSE:O traded down $0.38 during mid-day trading on Tuesday, hitting $55.07. The stock had a trading volume of 2,818,372 shares, compared to its average volume of 6,799,057. Realty Income has a 52 week low of $45.03 and a 52 week high of $64.18. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $47.42 billion, a price-to-earnings ratio of 43.83, a P/E/G ratio of 5.73 and a beta of 0.92. The company has a 50 day simple moving average of $52.89 and a 200-day simple moving average of $53.70.

Realty Income (NYSE:O) last announced its earnings results on Monday, May 6th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.87). 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 for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the firm earned $0.98 EPS. The firm’s revenue was up 33.5% on a year-over-year basis. On average, research analysts expect that Realty Income will post 4.16 earnings per share for the current fiscal year.

Realty Income Dividend Announcement

The firm also recently declared a may 24 dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a $0.257 dividend. This represents a yield of 5.9%. The ex-dividend date is Tuesday, April 30th. Realty Income’s dividend payout ratio (DPR) is presently 244.45%.

Insider Transactions at Realty Income

In related news, Director A. Larry Chapman sold 5,000 shares of Realty Income stock in a transaction 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 transaction, the director now directly owns 6,257 shares in the company, valued at approximately $339,317.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.10% of the company’s stock.

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.