Realty Income (NYSE:O) Releases FY24 Earnings Guidance

Realty Income (NYSE:O) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $4.19-4.28 for the period, compared to the consensus estimate of $4.23.

Analysts Set New Price Targets

Several research analysts have commented on O shares. UBS Group lifted their price target on shares of Realty Income from $61.00 to $68.00 and gave the stock a buy rating in a research note on Thursday, July 18th. Mizuho boosted their price target on shares of Realty Income from $56.00 to $59.00 and gave the stock a buy rating in a research note on Friday, May 10th. Stifel Nicolaus raised their price objective on Realty Income from $65.00 to $67.50 and gave the company a buy rating in a research note on Tuesday. Robert W. Baird boosted their target price on Realty Income from $57.00 to $58.00 and gave the company a neutral rating in a research note on Tuesday. Finally, Scotiabank lifted their price objective on Realty Income from $54.00 to $56.00 and gave the stock a sector perform rating in a research report on Thursday, May 16th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $61.29.

Realty Income Stock Up 1.7 %

Shares of NYSE O traded up $1.01 during trading on Wednesday, reaching $61.45. The company had a trading volume of 3,239,812 shares, compared to its average volume of 6,150,776. Realty Income has a 12-month low of $45.03 and a 12-month high of $61.60. The business’s 50-day moving average is $54.73 and its 200 day moving average is $53.80. The stock has a market cap of $53.51 billion, a PE ratio of 56.78, a P/E/G ratio of 5.05 and a beta of 0.96. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.65.

Realty Income (NYSE:O) last posted its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share 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 business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the firm earned $1.00 EPS. The firm’s revenue for the quarter was up 31.4% compared to the same quarter last year. As a group, equities analysts forecast that Realty Income will post 4.2 earnings per share for the current fiscal year.

Realty Income Announces Dividend

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

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.