Realty Income (NYSE:O) Issues Earnings Results

Realty Income (NYSE:O) announced its earnings results on Monday. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.75), Zacks reports. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.26 billion. Realty Income had a return on equity of 2.36% and a net margin of 17.89%. The firm’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.02 EPS. Realty Income updated its FY24 guidance to $4.17-$4.21 EPS and its FY 2024 guidance to 4.170-4.210 EPS.

Realty Income Stock Performance

Shares of NYSE O opened at $58.83 on Wednesday. The business has a fifty day simple moving average of $62.16 and a 200 day simple moving average of $57.86. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $51.23 billion, a price-to-earnings ratio of 54.47, a PEG ratio of 4.09 and a beta of 0.99. Realty Income has a one year low of $49.52 and a one year high of $64.88.

Realty Income Announces Dividend

The company also recently announced a nov 24 dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a $0.2635 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a dividend yield of 5.1%. Realty Income’s payout ratio is 292.59%.

Insider Activity at Realty Income

In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $60.77, for a total value of $303,850.00. Following the sale, the director now directly owns 5,257 shares in the company, valued at $319,467.89. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total value of $107,136.96. Following the sale, the director now directly owns 26,579 shares in the company, valued at $1,663,313.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director A. Larry Chapman sold 5,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $60.77, for a total value of $303,850.00. Following the completion of the sale, the director now owns 5,257 shares in the company, valued at $319,467.89. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on O shares. Royal Bank of Canada upped their target price on Realty Income from $58.00 to $64.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price target on Realty Income from $60.00 to $67.00 and gave the stock a “neutral” rating in a report on Tuesday, September 3rd. Stifel Nicolaus cut their price target on Realty Income from $70.50 to $70.00 and set a “buy” rating for the company in a report on Tuesday. Wedbush began coverage on Realty Income in a report on Monday, August 19th. They set a “neutral” rating and a $64.00 price target for the company. Finally, Robert W. Baird upped their price target on Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $63.92.

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.