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 earnings per share guidance of 4.170-4.210 for the period, compared to the consensus earnings per share estimate of 4.270. The company issued revenue guidance of -. Realty Income also updated its FY24 guidance to $4.17-$4.21 EPS.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on O shares. UBS Group upped their target price on shares of Realty Income from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada lowered their price objective on Realty Income from $67.00 to $63.00 and set an “outperform” rating for the company in a research report on Wednesday. Robert W. Baird upped their price target on Realty Income from $57.00 to $58.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. JPMorgan Chase & Co. upped their target price on shares of Realty Income from $60.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Finally, Morgan Stanley restated an “equal weight” rating and issued a $62.00 price objective on shares of Realty Income in a research note on Tuesday, August 6th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $63.85.

Realty Income Stock Down 3.7 %

O traded down $2.15 on Wednesday, reaching $56.67. The company’s stock had a trading volume of 6,441,180 shares, compared to its average volume of 5,670,923. Realty Income has a 1 year low of $49.52 and a 1 year high of $64.88. The business’s 50 day moving average is $62.16 and its 200 day moving average is $57.86. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.39 and a quick ratio of 1.39. The stock has a market cap of $49.35 billion, a price-to-earnings ratio of 51.97, a price-to-earnings-growth ratio of 4.09 and a beta of 0.99.

Realty Income (NYSE:O) last released its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.75). The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.26 billion. Realty Income had a return on equity of 2.36% and a net margin of 17.89%. The firm’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.02 EPS. As a group, research analysts forecast that Realty Income will post 4.2 EPS for the current fiscal year.

Realty Income Announces Dividend

The business also recently declared a nov 24 dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a dividend of $0.2635 per share. 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%.

Insiders Place Their Bets

In related news, Director Mary Hogan Preusse sold 1,712 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total transaction of $107,136.96. Following the completion of the sale, the director now owns 26,579 shares of the company’s stock, valued at $1,663,313.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Mary Hogan Preusse sold 1,712 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total value of $107,136.96. Following the sale, the director now owns 26,579 shares of the company’s stock, valued at $1,663,313.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director A. Larry Chapman sold 5,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 5,257 shares of the company’s stock, 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 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.