Realty Income (NYSE:O) Posts Quarterly Earnings Results, Misses Estimates By $0.07 EPS

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

Realty Income Price Performance

Shares of O traded up $1.01 during midday trading on Wednesday, hitting $61.45. 3,239,812 shares of the company traded hands, compared to its average volume of 6,150,776. The stock has a 50-day moving average of $54.73 and a 200-day moving average of $53.80. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.83 and a quick ratio of 1.83. Realty Income has a one year low of $45.03 and a one year high of $61.60. The firm has a market cap of $53.51 billion, a P/E ratio of 56.78, a PEG ratio of 5.05 and a beta of 0.96.

Realty Income Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Scotiabank upped their price objective on shares of Realty Income from $54.00 to $56.00 and gave the company a “sector perform” rating in a report on Thursday, May 16th. KeyCorp assumed coverage on shares of Realty Income in a research report on Wednesday, June 12th. They issued a “sector weight” rating for the company. Stifel Nicolaus upped their price objective on Realty Income from $65.00 to $67.50 and gave the stock a “buy” rating in a research report on Tuesday. Mizuho increased their price objective on shares of Realty Income from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $62.00 price target on shares of Realty Income 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.