Realty Income (NYSE:O) Releases 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 Trading Down 0.8 %

Shares of O traded down $0.43 during trading hours on Tuesday, hitting $55.02. 6,354,974 shares of the stock were exchanged, compared to its average volume of 6,840,320. The business has a 50-day moving average of $52.94 and a 200-day moving average of $53.74. Realty Income has a fifty-two week low of $45.03 and a fifty-two week high of $64.18. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.28 and a quick ratio of 1.28. The firm has a market capitalization of $47.38 billion, a P/E ratio of 43.67, a price-to-earnings-growth ratio of 5.73 and a beta of 0.92.

Realty Income (NYSE:O) last posted its earnings results on Monday, May 6th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.87). Realty Income had a return on equity of 4.06% and a net margin of 21.39%. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the company earned $0.98 EPS. The company’s revenue was up 33.5% on a year-over-year basis. On average, research analysts expect that Realty Income will post 4.16 EPS for the current 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 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 dividend payout ratio is presently 244.45%.

Analyst Ratings Changes

O has been the subject of several research reports. Stifel Nicolaus cut their target price 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. Mizuho dropped their target price on Realty Income from $60.00 to $56.00 and set a buy rating for the company in a research report on Thursday, March 7th. StockNews.com raised Realty Income from a sell rating to a hold rating in a research note on Thursday, February 8th. Royal Bank of Canada boosted their price objective on shares of Realty Income from $58.00 to $60.00 and gave the stock an outperform rating in a report on Thursday, January 11th. Finally, BMO Capital Markets began coverage on shares of Realty Income in a report on Tuesday, February 13th. They set a market perform rating and a $57.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Realty Income currently has an average rating of Hold and a consensus target price of $60.96.

Insider Transactions at Realty Income

In related news, Director A. Larry Chapman sold 5,000 shares of Realty Income 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 owns 6,257 shares in the company, valued at approximately $339,317.11. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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.