Realty Income (NYSE:O) Releases Earnings Results, Misses Expectations By $0.87 EPS

Realty Income (NYSE:O) issued its quarterly earnings results on Monday. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.87), RTT News reports. Realty Income had a return on equity of 4.06% and a net margin of 21.39%. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the business posted $0.98 earnings per share. Realty Income’s revenue was up 33.5% on a year-over-year basis. 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 Up 0.3 %

Realty Income stock opened at $55.43 on Tuesday. 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 business’s 50-day simple moving average is $52.89 and its two-hundred day simple moving average is $53.70. The company has a market cap of $47.73 billion, a PE ratio of 43.99, a PEG ratio of 5.73 and a beta of 0.92. Realty Income has a fifty-two week low of $45.03 and a fifty-two week high of $64.18.

Realty Income Announces Dividend

The company also recently declared a may 24 dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a dividend of $0.257 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a yield of 5.9%. Realty Income’s payout ratio is presently 244.45%.

Wall Street Analyst Weigh In

O has been the subject of a number of research analyst reports. Mizuho decreased their price target on Realty Income from $60.00 to $56.00 and set a “buy” rating for the company in a research note on Thursday, March 7th. Royal Bank of Canada raised their price target on Realty Income from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, January 11th. BMO Capital Markets initiated coverage on Realty Income in a research note on Tuesday, February 13th. They set a “market perform” rating and a $57.00 price target for the company. StockNews.com raised Realty Income from a “sell” rating to a “hold” rating in a research report on Thursday, February 8th. Finally, Stifel Nicolaus decreased their target price on Realty Income from $67.75 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $60.96.

Insider Buying and Selling at Realty Income

In other news, Director A. Larry Chapman sold 5,000 shares of the company’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $54.23, for a total value of $271,150.00. Following the sale, the director now owns 6,257 shares in the company, valued at $339,317.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.10% of the company’s stock.

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.