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

Realty Income (NYSE:O) issued its quarterly earnings results on Monday. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.75), Zacks reports. Realty Income had a net margin of 17.89% and a return on equity of 2.36%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the business posted $1.02 earnings per share. The firm’s revenue for the quarter was up 28.1% compared to the same quarter last year. 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 1.5 %

Realty Income stock opened at $58.42 on Tuesday. The firm has a market cap of $50.88 billion, a price-to-earnings ratio of 54.90, a P/E/G ratio of 4.09 and a beta of 0.99. The firm has a fifty day moving average price of $62.23 and a two-hundred day moving average price of $57.82. Realty Income has a fifty-two week low of $49.52 and a fifty-two week high of $64.88. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.39 and a quick ratio of 1.39.

Realty Income Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, November 1st. This represents a yield of 5.1%. Realty Income’s payout ratio is presently 292.59%.

Analysts Set New Price Targets

O has been the topic of a number of recent research reports. Royal Bank of Canada boosted their target price on Realty Income from $58.00 to $64.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Wedbush assumed coverage on Realty Income in a report on Monday, August 19th. They set a “neutral” rating and a $64.00 price objective on the stock. Scotiabank raised their target price on shares of Realty Income from $61.00 to $64.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 17th. Robert W. Baird boosted their price target on shares of Realty Income from $57.00 to $58.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $65.00 price objective (up previously from $62.00) on shares of Realty Income in a research note on Tuesday, October 1st. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Realty Income has an average rating of “Hold” and an average price target of $63.94.

Insider Transactions at Realty Income

In other news, Director Mary Hogan Preusse sold 1,712 shares of the company’s stock in a transaction that occurred 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now 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 legal filing with the SEC, which is available at this link. Also, Director Mary Hogan Preusse sold 1,712 shares of Realty Income stock in a transaction that occurred 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 sale, the director now directly owns 26,579 shares in the company, 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. 0.10% of the stock is currently owned by corporate insiders.

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.