Realty Income (NYSE:O) Issues Earnings Results, Misses Estimates By $0.87 EPS

Realty Income (NYSE:O) released its quarterly earnings results on Monday. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.87), RTT News reports. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Realty Income had a return on equity of 4.06% and a net margin of 21.39%. The company’s quarterly revenue was up 33.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 EPS. 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 Down 0.8 %

Shares of NYSE O opened at $55.02 on Wednesday. The stock has a market capitalization of $47.38 billion, a PE ratio of 43.67, a P/E/G ratio of 5.73 and a beta of 0.92. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.64. The firm has a fifty day moving average of $52.94 and a 200-day moving average of $53.74. Realty Income has a 52-week low of $45.03 and a 52-week high of $64.18.

Realty Income Dividend Announcement

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 given a dividend of $0.257 per share. This represents a yield of 5.9%. The ex-dividend date is Tuesday, April 30th. Realty Income’s dividend payout ratio (DPR) is 244.45%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Royal Bank of Canada lifted their target price on Realty Income from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, January 11th. BMO Capital Markets began coverage on Realty Income in a research note on Tuesday, February 13th. They issued a “market perform” rating and a $57.00 target price on the stock. Stifel Nicolaus reduced their price target on Realty Income from $67.75 to $65.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Mizuho reduced 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. Finally, StockNews.com raised Realty Income from a “sell” rating to a “hold” rating in a report on Thursday, February 8th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Realty Income currently has a consensus rating of “Hold” and a consensus price target of $60.96.

Insider Activity at Realty Income

In other news, Director A. Larry Chapman sold 5,000 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.10% of the stock is owned by 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.