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

Realty Income (NYSE:O) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 4.150-4.210 for the period, compared to the consensus earnings per share estimate of 4.230. The company issued revenue guidance of -.

Realty Income Stock Performance

NYSE:O opened at $53.63 on Tuesday. Realty Income has a 12-month low of $45.03 and a 12-month high of $64.18. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $46.70 billion, a PE ratio of 49.66, a price-to-earnings-growth ratio of 4.63 and a beta of 0.94. The firm has a 50-day moving average price of $53.56 and a 200 day moving average price of $54.17.

Realty Income (NYSE:O) last posted its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.87). Realty Income had a return on equity of 3.26% and a net margin of 17.74%. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the company earned $0.98 EPS. The business’s revenue for the quarter was up 33.5% on a year-over-year basis. Research analysts anticipate that Realty Income will post 4.2 earnings per share for the current fiscal year.

Realty Income Increases Dividend

The firm also recently declared a jul 24 dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a $0.263 dividend. This represents a yield of 6%. The ex-dividend date is Monday, July 1st. This is a positive change from Realty Income’s previous jul 24 dividend of $0.26. Realty Income’s dividend payout ratio is 291.67%.

Wall Street Analyst Weigh In

Several analysts have weighed in on O shares. Mizuho upped their price objective 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. UBS Group decreased their price objective on shares of Realty Income from $67.00 to $61.00 and set a buy rating on the stock in a research note on Friday, May 31st. Scotiabank upped their price objective on shares of Realty Income from $54.00 to $56.00 and gave the stock a sector perform rating in a research note on Thursday, May 16th. Finally, KeyCorp initiated coverage on shares of Realty Income in a research note on Wednesday, June 12th. They set a sector weight rating on the stock. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Realty Income has a consensus rating of Hold and a consensus target price of $61.35.

Insiders Place Their Bets

In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $54.23, for a total value of $271,150.00. Following the sale, the director now directly owns 6,257 shares in the company, valued at $339,317.11. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company 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.