Realty Income (NYSE:O) Releases Quarterly Earnings Results, Misses Estimates By $0.75 EPS

Realty Income (NYSE:O) announced its quarterly earnings data on Monday. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.75), Zacks reports. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Realty Income had a net margin of 17.57% and a return on equity of 2.38%. The business’s quarterly revenue was up 28.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.02 earnings per share. 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 O stock opened at $56.97 on Thursday. The company has a market capitalization of $49.61 billion, a price-to-earnings ratio of 54.25, a price-to-earnings-growth ratio of 4.12 and a beta of 0.99. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.39 and a current ratio of 1.39. Realty Income has a one year low of $49.52 and a one year high of $64.88. The company’s 50-day moving average is $62.06 and its 200 day moving average is $57.85.

Realty Income Dividend Announcement

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 issued 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 presently 300.96%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on O. Royal Bank of Canada cut their price target on shares of Realty Income from $67.00 to $63.00 and set an “outperform” rating for the company in a research report on Wednesday. Wedbush began coverage on Realty Income in a research report on Monday, August 19th. They set a “neutral” rating and a $64.00 price target on the stock. Scotiabank boosted their price objective on Realty Income from $61.00 to $64.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. increased their price objective on Realty Income from $60.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $62.00 target price 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 MarketBeat, the company has an average rating of “Hold” and a consensus price target of $63.85.

Insider Activity

In other news, Director Mary Hogan Preusse sold 1,712 shares of the business’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 completion of the transaction, the director now owns 26,579 shares in the company, valued at $1,663,313.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director A. Larry Chapman sold 5,000 shares of the 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 transaction, the director now directly owns 5,257 shares of the company’s stock, valued at $319,467.89. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mary Hogan Preusse sold 1,712 shares of Realty Income 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 completion of the sale, the director now directly owns 26,579 shares of the company’s stock, valued at $1,663,313.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.