Realty Income (NYSE:O) Releases FY 2024 Earnings Guidance

Realty Income (NYSE:O) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 4.130-4.210 for the period, compared to the consensus estimate of 4.220. The company issued revenue guidance of -. Realty Income also updated its FY24 guidance to $4.13-4.21 EPS.

Realty Income Stock Performance

Shares of O stock traded down $0.19 on Thursday, reaching $54.60. The stock had a trading volume of 1,782,686 shares, compared to its average volume of 6,779,589. The stock has a market cap of $47.02 billion, a P/E ratio of 50.78, a price-to-earnings-growth ratio of 5.73 and a beta of 0.92. Realty Income has a 1 year low of $45.03 and a 1 year high of $64.18. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.28 and a current ratio of 1.28. The company has a 50 day simple moving average of $52.94 and a 200 day simple moving average of $53.74.

Realty Income (NYSE:O) last released its quarterly earnings results on Monday, May 6th. 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). The firm had revenue of $1.26 billion during 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 business’s quarterly revenue was up 33.5% on a year-over-year basis. During the same quarter last year, the business earned $0.98 earnings per share. Equities research analysts expect that Realty Income will post 4.16 EPS for the current year.

Realty Income Dividend Announcement

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. The ex-dividend date is Tuesday, April 30th. This represents a yield of 5.9%. Realty Income’s dividend payout ratio is currently 285.19%.

Analysts Set New Price Targets

O has been the topic of a number of recent research reports. StockNews.com raised Realty Income from a sell rating to a hold rating in a report on Thursday, February 8th. Stifel Nicolaus decreased their target price on Realty Income from $67.75 to $65.00 and set a buy rating on the stock in a report on Wednesday, February 21st. BMO Capital Markets initiated coverage on Realty Income in a report on Tuesday, February 13th. They issued a market perform rating and a $57.00 target price on the stock. Mizuho decreased 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. Finally, 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 report on Thursday, January 11th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $60.96.

Insiders Place Their Bets

In other Realty Income 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 value 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 transaction 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.

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.