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

Realty Income (NYSE:O) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 4.130-4.210 for the period, compared to the consensus earnings per share estimate of 4.220. The company issued revenue guidance of -. Realty Income also updated its FY24 guidance to $4.13-4.21 EPS.

Realty Income Stock Up 0.3 %

Shares of Realty Income stock traded up $0.19 on Monday, hitting $55.45. The company had a trading volume of 6,837,498 shares, compared to its average volume of 6,845,817. The firm has a market capitalization of $47.75 billion, a P/E ratio of 43.91, a P/E/G ratio of 5.73 and a beta of 0.92. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.28 and a quick ratio of 1.28. Realty Income has a twelve month low of $45.03 and a twelve month high of $64.18. The stock has a 50-day moving average of $52.83 and a 200-day moving average of $53.65.

Realty Income (NYSE:O) last issued its earnings results on Wednesday, February 21st. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.72). Realty Income had a return on equity of 4.06% and a net margin of 21.39%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the firm posted $1.00 earnings per share. The business’s revenue was up 21.1% compared to the same quarter last year. Research analysts predict that Realty Income will post 4.16 earnings per share for the current year.

Realty Income Announces Dividend

The business also recently announced a may 24 dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a $0.257 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a dividend yield of 5.9%. Realty Income’s dividend payout ratio is presently 244.45%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on O shares. Mizuho dropped their price objective on Realty Income from $60.00 to $56.00 and set a buy rating on the stock in a report on Thursday, March 7th. Royal Bank of Canada upped their price target on Realty Income from $58.00 to $60.00 and gave the stock an outperform rating in a research note on Thursday, January 11th. Stifel Nicolaus lowered their price objective on shares of Realty Income from $67.75 to $65.00 and set a buy rating on the stock in a research note on Wednesday, February 21st. BMO Capital Markets started coverage on Realty Income in a research note on Tuesday, February 13th. They issued a market perform rating and a $57.00 price target for the company. Finally, StockNews.com upgraded Realty Income from a sell rating to a hold rating in a research report on Thursday, February 8th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $60.96.

Insider Buying and Selling at Realty Income

In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $54.23, for a total value of $271,150.00. Following the completion of the sale, the director now owns 6,257 shares of the company’s stock, valued at $339,317.11. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.10% of the stock is owned by company insiders.

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.