Realty Income (NYSE:O) Announces Quarterly Earnings Results, Misses Expectations By $0.87 EPS

Realty Income (NYSE:O - Get Free Report) released its quarterly earnings results on Monday. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.87), RTT News reports. Realty Income had a net margin of 21.39% and a return on equity of 4.06%. The company had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.15 billion. During the same quarter in the previous year, the company posted $0.98 EPS. The business's quarterly revenue was up 33.5% on a year-over-year basis. Realty Income updated its FY24 guidance to $4.13-4.21 EPS and its FY 2024 guidance to 4.130-4.210 EPS.

Realty Income Trading Down 0.8 %

Shares of O stock traded down $0.43 during trading on Tuesday, hitting $55.02. 6,354,974 shares of the stock traded hands, compared to its average volume of 6,840,320. The firm has a market capitalization of $47.38 billion, a P/E ratio of 43.67, a price-to-earnings-growth 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. The firm's fifty day moving average price is $52.94 and its 200-day moving average price is $53.74. Realty Income has a 52-week low of $45.03 and a 52-week high of $64.18.

Realty Income Dividend Announcement

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

Insider Activity

In other news, Director A. Larry Chapman sold 5,000 shares of Realty Income stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $54.23, for a total transaction of $271,150.00. Following the sale, the director now owns 6,257 shares of the company's stock, valued at approximately $339,317.11. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.10% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Stifel Nicolaus decreased their price target on Realty Income from $67.75 to $65.00 and set a "buy" rating on the stock in a report on Wednesday, February 21st. Royal Bank of Canada upped their price objective on Realty Income from $58.00 to $60.00 and gave the company an "outperform" rating in a research report on Thursday, January 11th. Mizuho cut their price objective on Realty Income from $60.00 to $56.00 and set a "buy" rating on the stock in a research report on Thursday, March 7th. BMO Capital Markets began coverage on Realty Income in a research report on Tuesday, February 13th. They issued a "market perform" rating and a $57.00 price objective on the stock. Finally, StockNews.com raised Realty Income from a "sell" rating to a "hold" rating in a research report on Thursday, February 8th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $60.96.

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.