Realty Income (NYSE:O) Issues FY 2026 Earnings Guidance

Key Points

• Realty Income set FY‑2026 EPS guidance at $4.41–$4.44, which is slightly below the sell‑side consensus of about $4.45.
• In Q1 the REIT posted a revenue beat of $1.55 billion versus $1.39 billion expected, but missed on EPS at $0.33 versus $0.40, suggesting operating strength amid margin/earnings pressure.
• The company declared a monthly dividend of $0.2705 (ex‑dividend April 30) implying roughly a 5.1% yield, though the reported dividend payout ratio is an elevated 277.78%, which may raise sustainability questions.

Realty Income (NYSE:O - Get Free Report) issued an update on its FY 2026 earnings guidance on Wednesday morning. The company provided EPS guidance of 4.410-4.440 for the period, compared to the consensus EPS estimate of 4.450. The company issued revenue guidance of -.

Realty Income Stock Performance

Shares of NYSE O traded up $0.47 during mid-day trading on Wednesday, hitting $64.04. 5,063,629 shares of the company were exchanged, compared to its average volume of 6,180,307. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.72. The stock has a 50 day simple moving average of $63.70 and a 200-day simple moving average of $60.75. Realty Income has a 1-year low of $54.38 and a 1-year high of $67.93. The firm has a market cap of $59.71 billion, a price-to-earnings ratio of 54.73, a price-to-earnings-growth ratio of 4.29 and a beta of 0.75.

Realty Income (NYSE:O - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.07). Realty Income had a return on equity of 2.68% and a net margin of 18.41%.The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.39 billion. Realty Income has set its FY 2026 guidance at 4.410-4.440 EPS. On average, sell-side analysts forecast that Realty Income will post 4.45 EPS for the current fiscal year.

Realty Income Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, May 15th. Shareholders of record on Thursday, April 30th will be issued a $0.2705 dividend. The ex-dividend date of this dividend is Thursday, April 30th. This represents a c) dividend on an annualized basis and a yield of 5.1%. Realty Income's dividend payout ratio (DPR) is 277.78%.

Analysts Set New Price Targets

A number of research firms have commented on O. UBS Group raised their target price on Realty Income from $66.00 to $72.00 and gave the company a "buy" rating in a report on Monday, March 9th. Deutsche Bank Aktiengesellschaft raised Realty Income from a "hold" rating to a "buy" rating and set a $69.00 target price for the company in a report on Tuesday, January 20th. Weiss Ratings reissued a "hold (c+)" rating on shares of Realty Income in a report on Friday, April 10th. Mizuho raised their target price on Realty Income from $60.00 to $68.00 and gave the company a "neutral" rating in a report on Wednesday, March 11th. Finally, Morgan Stanley set a $67.00 price target on Realty Income in a research report on Monday, April 27th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Realty Income currently has an average rating of "Hold" and an average target price of $66.75.

Insider Buying and Selling

In related news, insider Michelle Bushore sold 7,400 shares of Realty Income stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $62.42, for a total transaction of $461,908.00. Following the completion of the sale, the insider owned 67,641 shares in the company, valued at approximately $4,222,151.22. This trade represents a 9.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.10% of the company's stock.

More Realty Income News

Here are the key news stories impacting Realty Income this week:

• Positive Sentiment: Quarterly operating strength and revenue beat — Realty Income reported strong operating results for the quarter ended March 31, 2026, with revenue of $1.55 billion versus analyst estimates of $1.39 billion, which supports confidence in underlying cash flow. Realty Income Announces Operating Results
• Positive Sentiment: Company says it boosted its 2026 outlook after the quarter — management updated FY-2026 guidance (EPS range provided) and described the quarter as strong, which investors view as a vote of confidence in growth prospects and dividend coverage. Realty Income boosts 2026 outlook after strong quarter
• Neutral Sentiment: Income-oriented press coverage highlights Realty Income as a reliable monthly dividend play — multiple personal-finance pieces and analyst previews reiterate the company’s role in income portfolios, which can support steady demand but are unlikely to trigger sharp moves alone. Is Realty Income (O) Still Attractive After Recent Share Price Recovery?
• Negative Sentiment: EPS miss on the quarter — Realty Income reported $0.33 EPS vs. consensus of $0.40, a meaningful shortfall that pressures near-term sentiment and raises questions about margin timing despite the revenue beat. View Press Release
• Negative Sentiment: Guidance slightly below street consensus — FY-2026 EPS guidance was set at $4.410–$4.440 versus a consensus near $4.45, so while management framed this as an improvement versus prior internal expectations, the range sits just under analyst models and may temper upside. View Slide Deck

Institutional Trading of Realty Income

Several hedge funds and other institutional investors have recently added to or reduced their stakes in O. Morgan Stanley grew its holdings in Realty Income by 21.6% in the 4th quarter. Morgan Stanley now owns 18,291,294 shares of the real estate investment trust's stock valued at $1,031,080,000 after buying an additional 3,252,091 shares during the period. State Street Corp grew its holdings in shares of Realty Income by 2.1% during the 3rd quarter. State Street Corp now owns 63,028,892 shares of the real estate investment trust's stock worth $3,831,526,000 after purchasing an additional 1,295,936 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Realty Income by 5.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,795,930 shares of the real estate investment trust's stock worth $664,937,000 after purchasing an additional 660,062 shares during the period. Raymond James Financial Inc. grew its holdings in shares of Realty Income by 5.8% during the 2nd quarter. Raymond James Financial Inc. now owns 12,011,841 shares of the real estate investment trust's stock worth $692,002,000 after purchasing an additional 654,958 shares during the period. Finally, Burkehill Global Management LP purchased a new stake in shares of Realty Income during the 4th quarter worth about $33,822,000. Hedge funds and other institutional investors own 70.81% of the company's stock.

About Realty Income

Realty Income Corporation NYSE: O is a real estate investment trust (REIT) that acquires, owns and manages commercial properties subject primarily to long-term net lease agreements. The company's business model focuses on generating predictable, contractual rental income by leasing properties to tenants under agreements that typically place responsibility for taxes, insurance and maintenance on the tenant. Realty Income is publicly traded on the New York Stock Exchange and markets itself as a reliable income-oriented REIT.

Realty Income's portfolio is concentrated in single-tenant, retail and service-oriented properties such as drugstores, convenience stores, dollar and discount retailers, restaurants, and other essential-service businesses.

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