Realty Income (NYSE:O) Posts Quarterly Earnings Results, Misses Expectations By $0.87 EPS

Realty Income (NYSE:O) posted its quarterly earnings data on Monday. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.87), RTT News reports. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Realty Income had a net margin of 21.39% and a return on equity of 4.06%. The business’s quarterly revenue was up 33.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. Realty Income updated its FY24 guidance to $4.13-4.21 EPS and its FY 2024 guidance to 4.130-4.210 EPS.

Realty Income Trading Down 0.8 %

Shares of O opened at $55.02 on Wednesday. The firm’s 50-day moving average price is $52.94 and its 200-day moving average price is $53.74. The firm has a market capitalization 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 current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.64. Realty Income has a 1-year low of $45.03 and a 1-year high of $64.18.

Realty Income Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on O shares. Royal Bank of Canada lifted their target price on shares of Realty Income from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, January 11th. 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 target price on the stock. Mizuho decreased their target price on shares of Realty Income from $60.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, March 7th. Stifel Nicolaus decreased their target price on shares of Realty Income from $67.75 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. Finally, StockNews.com upgraded shares of Realty Income from a “sell” rating to a “hold” rating in a research report on Thursday, February 8th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $60.96.

Insider Activity

In other news, Director A. Larry Chapman sold 5,000 shares of Realty Income stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $54.23, for a total transaction of $271,150.00. Following the sale, the director now 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. 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.