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

Realty Income (NYSE:O) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 4.130-4.210 for the period, compared to the consensus EPS 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 NYSE O traded down $0.43 during midday trading on Tuesday, reaching $55.02. 6,354,974 shares of the stock were exchanged, compared to its average volume of 6,840,320. The firm has a 50-day simple moving average of $52.89 and a two-hundred day simple moving average of $53.70. Realty Income has a twelve month low of $45.03 and a twelve month high of $64.18. The firm has a market cap of $47.38 billion, a price-to-earnings ratio of 43.67, a PEG 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.

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). Realty Income had a net margin of 21.39% and a return on equity of 4.06%. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the business posted $0.98 EPS. Realty Income’s revenue was up 33.5% compared to the same quarter last year. As a group, analysts anticipate that Realty Income will post 4.16 EPS for the current fiscal year.

Realty Income Announces Dividend

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

Analysts Set New Price Targets

O has been the topic of several analyst reports. Stifel Nicolaus reduced their price target on Realty Income from $67.75 to $65.00 and set a buy rating on the stock in a report on Wednesday, February 21st. StockNews.com upgraded Realty Income from a sell rating to a hold rating in a report on Thursday, February 8th. Royal Bank of Canada lifted 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. Mizuho reduced their price objective on shares of Realty Income from $60.00 to $56.00 and set a buy rating on the stock in a report on Thursday, March 7th. Finally, BMO Capital Markets started coverage on shares of Realty Income in a report on Tuesday, February 13th. They issued a market perform rating and a $57.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Realty Income currently has an average rating of Hold and a consensus target price of $60.96.

Insider Buying and Selling

In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the firm’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $54.23, for a total transaction of $271,150.00. Following the transaction, the director now directly owns 6,257 shares of the company’s stock, valued at approximately $339,317.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is owned by company insiders.

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.