Realty Income (NYSE:O) Updates FY24 Earnings Guidance

Realty Income (NYSE:O) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of $4.13-4.21 for the period, compared to the consensus EPS estimate of $4.22. Realty Income also updated its FY 2024 guidance to 4.130-4.210 EPS.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on O shares. Mizuho decreased 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 report on Thursday, March 7th. StockNews.com upgraded Realty Income from a sell rating to a hold rating in a research report on Thursday, February 8th. Royal Bank of Canada boosted their price objective on Realty Income from $58.00 to $60.00 and gave the stock an outperform rating in a report on Thursday, January 11th. 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 target price for the company. Finally, Stifel Nicolaus cut their price target on shares of Realty Income from $67.75 to $65.00 and set a buy rating on the stock in a report on Wednesday, February 21st. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $60.96.

Realty Income Stock Performance

Shares of NYSE:O traded down $0.24 during trading on Wednesday, hitting $54.78. 6,600,660 shares of the stock were exchanged, compared to its average volume of 6,837,354. The company’s fifty day simple moving average is $52.94 and its 200-day simple moving average is $53.74. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.28 and a current ratio of 1.28. The company has a market capitalization of $47.17 billion, a price-to-earnings ratio of 50.72, a price-to-earnings-growth ratio of 5.73 and a beta of 0.92. Realty Income has a 1-year low of $45.03 and a 1-year high of $64.18.

Realty Income (NYSE:O) last issued its earnings results on Monday, May 6th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.87). Realty Income had a net margin of 21.39% and a return on equity of 4.06%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the firm posted $0.98 earnings per share. Realty Income’s revenue was up 33.5% on a year-over-year basis. Sell-side analysts expect that Realty Income will post 4.16 EPS for the current fiscal year.

Realty Income Announces Dividend

The company 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 $0.257 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a dividend yield of 5.9%. Realty Income’s dividend payout ratio is presently 285.19%.

Insider Buying and Selling

In other news, Director A. Larry Chapman sold 5,000 shares of Realty Income stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $54.23, for a total value of $271,150.00. Following the completion of the transaction, the director now owns 6,257 shares in the company, valued at $339,317.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.10% of the stock is currently owned by corporate 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.