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

Realty Income (NYSE:O) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 4.150-4.210 for the period, compared to the consensus earnings per share estimate of 4.230. The company issued revenue guidance of -.

Realty Income Trading Down 0.5 %

Shares of O stock opened at $52.65 on Thursday. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $45.85 billion, a price-to-earnings ratio of 48.75, a PEG ratio of 4.61 and a beta of 0.94. The firm has a 50-day moving average price of $53.60 and a 200 day moving average price of $54.16. Realty Income has a twelve month low of $45.03 and a twelve month high of $64.18.

Realty Income (NYSE:O) last posted its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.16 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.87). The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Realty Income had a net margin of 17.74% and a return on equity of 3.26%. The firm’s quarterly revenue was up 33.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 EPS. Research analysts forecast that Realty Income will post 4.2 earnings per share for the current fiscal year.

Realty Income Increases Dividend

The firm also recently declared a jul 24 dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a $0.263 dividend. This is a boost from Realty Income’s previous jul 24 dividend of $0.26. The ex-dividend date of this dividend is Monday, July 1st. This represents a yield of 6%. Realty Income’s payout ratio is 291.67%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on O. Scotiabank upped their price target on Realty Income from $54.00 to $56.00 and gave the stock a sector perform rating in a report on Thursday, May 16th. KeyCorp began coverage on Realty Income in a report on Wednesday, June 12th. They issued a sector weight rating for the company. Mizuho upped their price target on Realty Income from $56.00 to $59.00 and gave the stock a buy rating in a report on Friday, May 10th. Finally, UBS Group decreased their price target on Realty Income from $67.00 to $61.00 and set a buy rating for the company in a report on Friday, May 31st. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $61.35.

Insider Activity at Realty Income

In related 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 sale, the director now directly owns 6,257 shares of the company’s stock, valued at approximately $339,317.11. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate 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.