Realty Income (NYSE:O) Shares Down 0.2% on Disappointing Earnings

Shares of Realty Income Co. (NYSE:O) were down 0.2% during trading on Monday following a weaker than expected earnings announcement. The company traded as low as $56.88 and last traded at $59.18. Approximately 3,792,602 shares traded hands during trading, a decline of 38% from the average daily volume of 6,095,420 shares. The stock had previously closed at $59.32.

The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). Realty Income had a net margin of 17.74% and a return on equity of 3.26%. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the firm posted $1.00 earnings per share. The company’s revenue for the quarter was up 31.4% compared to the same quarter last year.

Realty Income Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently commented on O shares. Stifel Nicolaus raised their price objective on shares of Realty Income from $65.00 to $67.50 and gave the company a “buy” rating in a research note on Tuesday. Mizuho boosted their price target on Realty Income from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Scotiabank raised their price objective on Realty Income from $54.00 to $56.00 and gave the company a “sector perform” rating in a research note on Thursday, May 16th. KeyCorp began coverage on Realty Income in a research report on Wednesday, June 12th. They set a “sector weight” rating on the stock. Finally, Morgan Stanley restated an “equal weight” rating and issued a $62.00 price target on shares of Realty Income in a research report on Tuesday. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $61.57.

Institutional Investors Weigh In On Realty Income

Several hedge funds have recently modified their holdings of O. American National Bank purchased a new position in Realty Income in the fourth quarter valued at about $25,000. Vima LLC acquired a new stake in shares of Realty Income during the fourth quarter worth approximately $25,000. Pacifica Partners Inc. increased its stake in shares of Realty Income by 444.4% in the second quarter. Pacifica Partners Inc. now owns 490 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 400 shares during the last quarter. WASHINGTON TRUST Co raised its holdings in Realty Income by 65.7% in the first quarter. WASHINGTON TRUST Co now owns 497 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 197 shares in the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in Realty Income during the 1st quarter valued at $27,000. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Realty Income Stock Performance

The company’s fifty day simple moving average is $54.73 and its two-hundred day simple moving average is $53.80. The company has a market capitalization of $52.49 billion, a price-to-earnings ratio of 55.81, a price-to-earnings-growth ratio of 5.05 and a beta of 0.96. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.83 and a current ratio of 1.83.

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.