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

by · The Markets Daily

Realty Income (NYSE:O – Get Free Report) issued its quarterly earnings data 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. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Realty Income had a net margin of 17.89% and a return on equity of 2.36%. The firm’s revenue was up 28.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.02 earnings per share. 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 Trading Down 1.4 %

Shares of Realty Income stock traded down $0.82 during trading on Tuesday, hitting $58.47. The company’s stock had a trading volume of 1,903,846 shares, compared to its average volume of 5,650,448. The stock has a market cap of $50.92 billion, a price-to-earnings ratio of 53.91, a price-to-earnings-growth ratio of 4.09 and a beta of 0.99. The stock has a 50-day moving average price of $62.23 and a two-hundred day moving average price of $57.82. 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 has a 52 week low of $49.52 and a 52 week high of $64.88.

Realty Income Announces Dividend

The business also recently announced a nov 24 dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a $0.2635 dividend. The ex-dividend date is Friday, November 1st. This represents a yield of 5.1%. Realty Income’s dividend payout ratio is currently 292.59%.

Insider Activity

In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $60.77, for a total transaction of $303,850.00. Following the transaction, the director now directly owns 5,257 shares in the company, valued at approximately $319,467.89. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the 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 transaction, the director now owns 5,257 shares in the company, valued at approximately $319,467.89. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary Hogan Preusse sold 1,712 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on O shares. Scotiabank lifted their price target on Realty Income from $61.00 to $64.00 and gave the stock a “sector perform” rating in a research note on Tuesday, September 17th. Stifel Nicolaus cut their target price on Realty Income from $70.50 to $70.00 and set a “buy” rating for the company in a research report on Tuesday. UBS Group upped their price target on Realty Income from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $62.00 target price on shares of Realty Income in a research report on Tuesday, August 6th. Finally, Robert W. Baird upped their price target on shares of Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Nine investment 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, Realty Income presently has an average rating of “Hold” and a consensus target price of $63.92.

View Our Latest Analysis on Realty Income

Realty Income Company Profile

(Get Free Report)

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.

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