Realty Income (NYSE:O) Releases FY24 Earnings Guidance

Realty Income (NYSE:O) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $4.17-$4.21 for the period, compared to the consensus EPS estimate of $4.23. Realty Income also updated its FY 2024 guidance to 4.170-4.210 EPS.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on O. Wells Fargo & Company restated an “equal weight” rating and set a $65.00 price target (up from $62.00) on shares of Realty Income in a report on Tuesday, October 1st. Royal Bank of Canada lifted their price target on Realty Income from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. UBS Group boosted their price objective on Realty Income from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Wedbush started coverage on Realty Income in a research report on Monday, August 19th. They set a “neutral” rating and a $64.00 target price for the company. Finally, Robert W. Baird increased their target price on shares of Realty Income from $57.00 to $58.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $63.92.

Realty Income Trading Down 1.4 %

Shares of NYSE:O traded down $0.82 during midday trading on Tuesday, hitting $58.47. 1,903,846 shares of the stock traded hands, compared to its average volume of 5,650,448. Realty Income has a one year low of $49.52 and a one year high of $64.88. The stock has a market capitalization of $50.92 billion, a PE ratio of 53.91, a P/E/G ratio of 4.09 and a beta of 0.99. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.66. The business’s 50 day moving average is $62.23 and its two-hundred day moving average is $57.82.

Realty Income (NYSE:O) last announced its earnings results on Monday, November 4th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.75). The firm had revenue of $1.33 billion during 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 was up 28.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.02 EPS. As a group, research analysts forecast that Realty Income will post 4.2 earnings per share for the current year.

Realty Income Announces Dividend

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

Insider Transactions at Realty Income

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