Realty Income (NYSE:O) Releases Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Realty Income (NYSE:O) released its earnings results on Monday. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07), RTT News reports. Realty Income had a return on equity of 3.26% and a net margin of 17.74%. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the business earned $1.00 earnings per share. The firm’s revenue for the quarter was up 31.4% on a year-over-year basis. Realty Income updated its FY24 guidance to $4.19-4.28 EPS.

Realty Income Trading Down 0.3 %

Shares of NYSE O traded down $0.16 during mid-day trading on Wednesday, reaching $60.28. 7,714,300 shares of the company’s stock were exchanged, compared to its average volume of 6,181,528. The firm has a market capitalization of $52.49 billion, a price-to-earnings ratio of 56.56, a PEG ratio of 5.05 and a beta of 0.96. Realty Income has a 52-week low of $45.03 and a 52-week high of $61.60. The company’s 50-day moving average is $54.73 and its 200-day moving average is $53.80. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.83 and a current ratio of 1.83.

Realty Income Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Robert W. Baird lifted their target price on Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a report on Tuesday. KeyCorp assumed coverage on shares of Realty Income in a report on Wednesday, June 12th. They issued a “sector weight” rating on the stock. UBS Group raised their target price on shares of Realty Income from $61.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $62.00 price target on shares of Realty Income in a report on Tuesday. Finally, Stifel Nicolaus lifted 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. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Realty Income has an average rating of “Hold” and an average price target of $61.57.

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.