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

Realty Income (NYSE:O) announced its quarterly earnings results on Monday. The real estate investment trust reported $0.16 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.87), RTT News reports. The firm 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% on a year-over-year basis. During the same quarter in the prior 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 Stock Down 0.4 %

Shares of O opened at $54.79 on Thursday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.28 and a current ratio of 1.28. Realty Income has a one year low of $45.03 and a one year high of $64.18. The stock has a market capitalization of $47.18 billion, a price-to-earnings ratio of 50.72, a PEG ratio of 5.73 and a beta of 0.92. The stock has a 50 day moving average price of $52.94 and a 200 day moving average price of $53.74.

Realty Income Announces Dividend

The firm also recently disclosed a may 24 dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a $0.257 dividend. This represents a dividend yield of 5.9%. The ex-dividend date of this dividend is Tuesday, April 30th. Realty Income’s dividend payout ratio (DPR) is presently 285.19%.

Analyst Ratings Changes

Several research firms have issued reports on O. StockNews.com upgraded Realty Income from a “sell” rating to a “hold” rating in a research note on Thursday, February 8th. Mizuho cut their target price on 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 cut their target price on Realty Income from $67.75 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. Royal Bank of Canada lifted their target price on Realty Income from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, January 11th. Finally, BMO Capital Markets started coverage on Realty Income in a report on Tuesday, February 13th. They issued a “market perform” rating and a $57.00 price target for the company. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus 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 business’s stock in a transaction on Tuesday, April 9th. The stock was 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 of the company’s stock, valued at $339,317.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.