Realty Income (NYSE:O) Announces Quarterly Earnings Results

Realty Income (NYSE:O) announced its quarterly earnings data on Monday. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.07), RTT News reports. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.22 billion. Realty Income had a net margin of 17.74% and a return on equity of 3.26%. The business’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.00 earnings per share. Realty Income updated its FY24 guidance to $4.19-4.28 EPS.

Realty Income Trading Up 1.6 %

Shares of O stock traded up $0.98 during trading hours on Wednesday, hitting $61.42. 2,598,697 shares of the company were exchanged, compared to its average volume of 6,145,164. The firm has a market cap of $53.48 billion, a PE ratio of 56.78, a PEG ratio of 5.05 and a beta of 0.96. Realty Income has a 1 year low of $45.03 and a 1 year high of $61.54. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.65. The firm has a fifty day moving average of $54.73 and a 200 day moving average of $53.80.

Realty Income Announces Dividend

The business also recently disclosed a aug 24 dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be issued a dividend of $0.263 per share. The ex-dividend date of this dividend is Thursday, August 1st. This represents a dividend yield of 5.7%. Realty Income’s payout ratio is currently 291.67%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on O. Scotiabank boosted their price objective on shares of Realty Income from $54.00 to $56.00 and gave the company a “sector perform” rating in a research note on Thursday, May 16th. Mizuho upped their price target on shares of Realty Income from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Morgan Stanley reaffirmed an “equal weight” rating and set a $62.00 price target on shares of Realty Income in a research note on Tuesday. 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. Finally, Stifel Nicolaus upped their price target on shares of Realty Income from $65.00 to $67.50 and gave the stock a “buy” rating in a research note on Tuesday. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $61.29.

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.