Realty Income (NYSE:O) Updates FY 2024 Earnings Guidance

Realty Income (NYSE:O) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 4.170-4.210 for the period, compared to the consensus estimate of 4.270. The company issued revenue guidance of -. Realty Income also updated its FY24 guidance to $4.17-$4.21 EPS.

Analyst Upgrades and Downgrades

Several research firms recently commented on O. Scotiabank upped their price target on shares of Realty Income from $61.00 to $64.00 and gave the company a “sector perform” rating in a research note on Tuesday, September 17th. Stifel Nicolaus cut their target price on shares of Realty Income from $70.50 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday. UBS Group boosted their price target on shares of Realty Income from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. 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 target for the company. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $65.00 price target (up previously from $62.00) on shares of Realty Income in a research note on Tuesday, October 1st. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Realty Income currently has an average rating of “Hold” and an average price target of $63.85.

Realty Income Price Performance

Shares of O stock traded down $0.38 during trading on Thursday, hitting $56.62. The company had a trading volume of 4,547,620 shares, compared to its average volume of 5,688,764. 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 stock’s 50-day moving average is $62.06 and its two-hundred day moving average is $57.85. The stock has a market capitalization of $49.31 billion, a price-to-earnings ratio of 53.93, a price-to-earnings-growth ratio of 4.12 and a beta of 0.99. Realty Income has a 52 week low of $49.52 and a 52 week high of $64.88.

Realty Income (NYSE:O) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.75). 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 quarter in the previous year, the business earned $1.02 earnings per share. The firm’s revenue was up 28.1% on a year-over-year basis. As a group, analysts predict that Realty Income will post 4.2 EPS for the current fiscal year.

Realty Income Announces Dividend

The company also recently disclosed a nov 24 dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a dividend of $0.2635 per share. 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 currently 300.96%.

Insider Buying and Selling at Realty Income

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