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

Realty Income (NYSE:O) announced its earnings results on Monday. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.75), Zacks reports. Realty Income had a net margin of 17.57% and a return on equity of 2.38%. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the firm earned $1.02 EPS. The firm’s revenue was up 28.1% on a year-over-year basis. 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 Down 3.2 %

NYSE:O traded down $1.85 during trading hours on Wednesday, hitting $56.97. 11,409,869 shares of the stock traded hands, compared to its average volume of 5,693,775. The firm has a 50 day moving average price of $62.06 and a 200 day moving average price of $57.85. The firm has a market cap of $49.61 billion, a price-to-earnings ratio of 54.25, a PEG ratio of 4.12 and a beta of 0.99. Realty Income has a fifty-two week low of $49.52 and a fifty-two week high of $64.88. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.66.

Realty Income Announces Dividend

The company also recently disclosed a nov 24 dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a $0.2635 dividend. This represents a yield of 5.1%. The ex-dividend date of this dividend is Friday, November 1st. Realty Income’s dividend payout ratio is 300.96%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on O. Wedbush began coverage on shares of Realty Income in a research note on Monday, August 19th. They set a “neutral” rating and a $64.00 price objective on the stock. Morgan Stanley reiterated an “equal weight” rating and issued a $62.00 price objective on shares of Realty Income in a report on Tuesday, August 6th. Royal Bank of Canada dropped their target price on Realty Income from $67.00 to $63.00 and set an “outperform” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. upped their target price on Realty Income from $60.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. Finally, Robert W. Baird boosted their price objective on Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $63.85.

Insider Transactions at Realty Income

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

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.