Realty Income (NYSE:O) Releases Earnings Results, Misses Expectations By $0.75 EPS

Realty Income (NYSE:O) posted its quarterly earnings data on Monday. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.75), Zacks reports. Realty Income had a net margin of 17.57% and a return on equity of 2.38%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the firm earned $1.02 EPS. The business’s quarterly revenue was up 28.1% on a year-over-year basis. Realty Income updated its FY24 guidance to $4.17-$4.21 EPS and its FY 2024 guidance to 4.170-4.210 EPS.

Realty Income Stock Down 3.2 %

NYSE O traded down $1.85 during mid-day trading on Wednesday, reaching $56.97. 11,409,869 shares of the company’s stock traded hands, compared to its average volume of 5,693,775. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.66. Realty Income has a 1-year low of $49.52 and a 1-year high of $64.88. The company has a fifty day simple moving average of $62.06 and a 200-day simple moving average of $57.85. The company has a market cap of $49.61 billion, a price-to-earnings ratio of 54.25, a P/E/G ratio of 4.12 and a beta of 0.99.

Realty Income Announces Dividend

The firm also recently declared a nov 24 dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a $0.2635 dividend. This represents a dividend yield of 5.1%. The ex-dividend date is Friday, November 1st. Realty Income’s dividend payout ratio (DPR) is 300.96%.

Insider Buying and Selling at Realty Income

In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $60.77, for a total transaction of $303,850.00. Following the completion of the transaction, the director now directly owns 5,257 shares of the company’s stock, valued at $319,467.89. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director A. Larry Chapman sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $60.77, for a total value of $303,850.00. Following the completion of the sale, the director now directly owns 5,257 shares in the company, valued at approximately $319,467.89. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary Hogan Preusse sold 1,712 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total value of $107,136.96. Following the transaction, the director now owns 26,579 shares in the company, valued at $1,663,313.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on O shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $62.00 price objective on shares of Realty Income in a research note on Tuesday, August 6th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $65.00 price target (up previously from $62.00) on shares of Realty Income in a report on Tuesday, October 1st. Scotiabank lifted their price target on shares of Realty Income from $61.00 to $64.00 and gave the company a “sector perform” rating in a report on Tuesday, September 17th. Wedbush began coverage on Realty Income in a research report on Monday, August 19th. They issued a “neutral” rating and a $64.00 target price on the stock. Finally, Royal Bank of Canada reduced their target price on Realty Income from $67.00 to $63.00 and set an “outperform” rating on the stock in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $63.85.

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.