Realty Income (NYSE:O) Trading Down 0.2% Following Weak Earnings

Realty Income Co. (NYSE:O) fell 0.2% during trading on Monday after the company announced weaker than expected quarterly earnings. The stock traded as low as $56.88 and last traded at $59.18. 3,792,602 shares were traded during mid-day trading, a decline of 38% from the average session volume of 6,095,420 shares. The stock had previously closed at $59.32.

The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.07). Realty Income had a return on equity of 3.26% and a net margin of 17.74%. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the firm posted $1.00 earnings per share. Realty Income’s revenue for the quarter was up 31.4% on a year-over-year basis.

Realty Income Dividend Announcement

The business also recently disclosed a aug 24 dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be issued a dividend of $0.263 per share. This represents a yield of 5.7%. The ex-dividend date is Thursday, August 1st. Realty Income’s dividend payout ratio is currently 291.67%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. UBS Group upped their price target on shares of Realty Income from $61.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Royal Bank of Canada raised their price target on shares of Realty Income from $58.00 to $64.00 and gave the company an “outperform” rating in a report on Wednesday. Morgan Stanley reiterated an “equal weight” rating and set a $62.00 price objective on shares of Realty Income in a research note on Tuesday. KeyCorp assumed coverage on shares of Realty Income in a research note on Wednesday, June 12th. They set a “sector weight” rating on the stock. Finally, Stifel Nicolaus raised their price target on shares of Realty Income from $65.00 to $67.50 and gave the stock a “buy” rating in a research report on Tuesday. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Realty Income presently has an average rating of “Hold” and a consensus price target of $61.57.

Hedge Funds Weigh In On Realty Income

A number of large investors have recently added to or reduced their stakes in the company. American National Bank acquired a new position in shares of Realty Income during the 4th quarter worth about $25,000. Vima LLC acquired a new stake in Realty Income in the 4th quarter valued at about $25,000. Pacifica Partners Inc. lifted its stake in Realty Income by 444.4% in the 2nd quarter. Pacifica Partners Inc. now owns 490 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 400 shares during the last quarter. WASHINGTON TRUST Co lifted its stake in Realty Income by 65.7% in the 1st quarter. WASHINGTON TRUST Co now owns 497 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 197 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in Realty Income in the 1st quarter valued at about $27,000. Institutional investors own 70.81% of the company’s stock.

Realty Income Price Performance

The firm has a market capitalization of $52.49 billion, a price-to-earnings ratio of 55.81, a P/E/G ratio of 5.05 and a beta of 0.96. The company’s 50 day moving average is $54.73 and its 200-day moving average is $53.80. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.65.

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.