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 $4.19-4.28 for the period, compared to the consensus earnings per share estimate of $4.23.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on O shares. Scotiabank increased their target price on shares of Realty Income from $54.00 to $56.00 and gave the stock a sector perform rating in a research report on Thursday, May 16th. UBS Group boosted their target price on Realty Income from $61.00 to $68.00 and gave the stock a buy rating in a report on Thursday, July 18th. Robert W. Baird raised their price target on Realty Income from $57.00 to $58.00 and gave the company a neutral rating in a report on Tuesday. KeyCorp began coverage on Realty Income in a research note on Wednesday, June 12th. They issued a sector weight rating on the stock. Finally, Mizuho raised their target price on Realty Income from $56.00 to $59.00 and gave the company a buy rating in a research note on Friday, May 10th. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average target price of $61.29.

Realty Income Stock Up 1.7 %

Shares of NYSE:O traded up $1.01 during trading on Wednesday, hitting $61.45. 3,239,812 shares of the company’s stock traded hands, compared to its average volume of 6,150,776. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average price of $54.73 and a 200-day moving average price of $53.80. Realty Income has a 52 week low of $45.03 and a 52 week high of $61.60. The company has a market cap of $53.51 billion, a price-to-earnings ratio of 56.78, a price-to-earnings-growth ratio of 5.05 and a beta of 0.96.

Realty Income (NYSE:O) last announced its earnings results on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.22 billion. Realty Income had a return on equity of 3.26% and a net margin of 17.74%. Realty Income’s revenue for the quarter was up 31.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.00 earnings per share. As a group, research analysts forecast that Realty Income will post 4.2 EPS for the current fiscal year.

Realty Income Announces Dividend

The firm also recently declared a aug 24 dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be given a dividend of $0.263 per share. The ex-dividend date is Thursday, August 1st. This represents a yield of 5.7%. Realty Income’s dividend payout ratio (DPR) is presently 291.67%.

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.