Realty Income (NYSE:O) Issues FY24 Earnings Guidance

Realty Income (NYSE:O) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of $4.13-4.21 for the period, compared to the consensus earnings per share estimate of $4.22.

Analysts Set New Price Targets

A number of research analysts have recently commented on O shares. StockNews.com upgraded Realty Income from a sell rating to a hold rating in a report on Thursday, February 8th. Mizuho reduced their price target on shares of Realty Income from $60.00 to $56.00 and set a buy rating on the stock in a research note on Thursday, March 7th. Stifel Nicolaus lowered their price objective on shares of Realty Income from $67.75 to $65.00 and set a buy rating for the company in a research report on Wednesday, February 21st. Royal Bank of Canada increased their price target on Realty Income from $58.00 to $60.00 and gave the stock an outperform rating in a research report on Thursday, January 11th. Finally, BMO Capital Markets started coverage on shares of Realty Income in a research report on Tuesday, February 13th. They issued a market perform rating and a $57.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $60.96.

Realty Income Stock Performance

Shares of NYSE:O traded up $0.19 during trading on Monday, hitting $55.45. 6,833,143 shares of the stock traded hands, compared to its average volume of 6,845,710. Realty Income has a 52-week low of $45.03 and a 52-week high of $64.18. 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 company has a fifty day moving average price of $52.83 and a two-hundred day moving average price of $53.65. The company has a market cap of $47.75 billion, a price-to-earnings ratio of 43.91, a P/E/G ratio of 5.73 and a beta of 0.92.

Realty Income (NYSE:O) last issued its quarterly earnings results on Wednesday, February 21st. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.72). The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Realty Income had a return on equity of 4.06% and a net margin of 21.39%. Realty Income’s revenue was up 21.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.00 EPS. As a group, equities analysts predict that Realty Income will post 4.16 EPS for the current year.

Realty Income Announces Dividend

The firm 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. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a yield of 5.9%. Realty Income’s payout ratio is presently 244.45%.

Insider Buying and Selling

In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $339,317.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.10% of the stock is currently owned by company 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.