Realty Income (NYSE:O) Issues Quarterly Earnings Results

Key Points

• Realty Income beat quarterly expectations: The REIT reported earnings of $0.43 per share versus the $0.41 consensus estimate, while revenue reached $1.62 billion, above estimates of $1.43 billion.
• Shares rose 1.2% to $57.61 following the results, though the stock remains below its 12-month high of $67.93.
• Realty Income declared a monthly dividend of $0.2715 per share, equivalent to $3.26 annually and a 5.7% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $72.34.

Realty Income (NYSE:O - Get Free Report) announced its quarterly earnings results on Monday. The real estate investment trust reported $0.43 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02, FiscalAI reports. The company had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.43 billion. Realty Income had a return on equity of 3.12% and a net margin of 20.93%.

Realty Income Stock Up 1.2%

Shares of NYSE O traded up $0.68 on Monday, hitting $57.61. The company had a trading volume of 7,090,137 shares, compared to its average volume of 6,481,200. The company has a quick ratio of 5.88, a current ratio of 5.88 and a debt-to-equity ratio of 0.73. Realty Income has a 12-month low of $53.15 and a 12-month high of $67.93. The firm has a market capitalization of $54.51 billion, a P/E ratio of 42.05, a PEG ratio of 4.44 and a beta of 0.69. The business has a 50 day moving average of $57.50 and a two-hundred day moving average of $61.60.

Realty Income Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be given a $0.2715 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $3.26 annualized dividend and a dividend yield of 5.7%. Realty Income's dividend payout ratio is presently 237.23%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on O shares. Huntington started coverage on Realty Income in a report on Wednesday, July 15th. They set an "outperform" rating and a $70.00 target price for the company. Evercore set a $65.00 price target on shares of Realty Income in a report on Monday, September 21st. Truist Financial raised shares of Realty Income from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 14th. Robert W. Baird boosted their price objective on shares of Realty Income from $64.00 to $65.00 and gave the stock a "neutral" rating in a research note on Monday, July 6th. Finally, Scotiabank lowered shares of Realty Income from a "sector outperform" rating to a "sector perform" rating and dropped their price objective for the stock from $67.00 to $59.00 in a research report on Wednesday, September 23rd. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $72.34.

About Realty Income

Realty Income Corporation is a real estate investment trust (REIT) that owns and manages a diversified portfolio of commercial properties. The company primarily invests in single-tenant properties that are leased to businesses under long-term, net lease agreements, under which tenants generally are responsible for property taxes, insurance and maintenance.

Its portfolio includes retail, grocery, convenience store, industrial, distribution and other commercial properties. Realty Income serves a broad range of tenants and seeks to generate recurring rental income through long-term leases.

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