Realty Income (NYSE:O - Get Free Report) issued its quarterly earnings data on Monday. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts' consensus estimates of $1.05 by ($0.75), Zacks reports. Realty Income had a net margin of 17.89% and a return on equity of 2.36%. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the business earned $1.02 EPS. Realty Income's revenue for the quarter was up 28.1% compared to the same quarter last year. Realty Income updated its FY24 guidance to $4.17-$4.21 EPS and its FY 2024 guidance to 4.170-4.210 EPS.
Realty Income Trading Down 0.8 %
NYSE:O traded down $0.46 during trading hours on Tuesday, hitting $58.83. 5,512,803 shares of the stock were exchanged, compared to its average volume of 5,667,307. The company's 50 day moving average is $62.16 and its two-hundred day moving average is $57.86. Realty Income has a twelve month low of $49.52 and a twelve month high of $64.88. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $51.23 billion, a P/E ratio of 54.47, a price-to-earnings-growth ratio of 4.09 and a beta of 0.99.
Realty Income Announces Dividend
The firm also recently announced a nov 24 dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a $0.2635 dividend. This represents a dividend yield of 5.1%. The ex-dividend date of this dividend is Friday, November 1st. Realty Income's payout ratio is currently 292.59%.
Insiders Place Their Bets
In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the company's stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total transaction of $107,136.96. Following the completion of the sale, the director now owns 26,579 shares in the company, valued at approximately $1,663,313.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the company's stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total transaction of $107,136.96. Following the completion of the sale, the director now owns 26,579 shares in the company, valued at approximately $1,663,313.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director A. Larry Chapman sold 5,000 shares of the company's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $60.77, for a total transaction of $303,850.00. Following the sale, the director now owns 5,257 shares of the company's stock, valued at $319,467.89. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.10% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on O. JPMorgan Chase & Co. raised their price target on Realty Income from $60.00 to $67.00 and gave the stock a "neutral" rating in a report on Tuesday, September 3rd. Stifel Nicolaus cut their price target on Realty Income from $70.50 to $70.00 and set a "buy" rating on the stock in a report on Tuesday. Morgan Stanley reissued an "equal weight" rating and issued a $62.00 price target on shares of Realty Income in a report on Tuesday, August 6th. Royal Bank of Canada raised their price target on Realty Income from $58.00 to $64.00 and gave the stock an "outperform" rating in a report on Wednesday, August 7th. Finally, UBS Group raised their target price on Realty Income from $70.00 to $72.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $63.92.
View Our Latest Stock Report on Realty Income
Realty Income Company Profile
(
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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.
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