Realty Income (NYSE:O) Shares Down 1.8% on Disappointing Earnings

Realty Income Co. (NYSE:O - Get Free Report)'s stock price dropped 1.8% during mid-day trading on Tuesday following a dissappointing earnings announcement. The company traded as low as $57.92 and last traded at $58.22. Approximately 1,551,026 shares changed hands during trading, a decline of 73% from the average daily volume of 5,648,799 shares. The stock had previously closed at $59.29.

The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.75). Realty Income had a return on equity of 2.36% and a net margin of 17.89%. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the company posted $1.02 EPS. Realty Income's revenue for the quarter was up 28.1% on a year-over-year basis.

Realty Income Dividend Announcement

The business also recently disclosed a nov 24 dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a dividend of $0.2635 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a dividend yield of 5.1%. Realty Income's dividend payout ratio is presently 292.59%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. increased their price objective on Realty Income from $60.00 to $67.00 and gave the stock a "neutral" rating in a report on Tuesday, September 3rd. UBS Group boosted their price target on Realty Income from $70.00 to $72.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Stifel Nicolaus cut their price objective on Realty Income from $70.50 to $70.00 and set a "buy" rating for the company in a report on Tuesday. Morgan Stanley reaffirmed an "equal weight" rating and set a $62.00 price objective on shares of Realty Income in a research note on Tuesday, August 6th. Finally, Wells Fargo & Company restated an "equal weight" rating and set a $65.00 price target (up from $62.00) on shares of Realty Income in a research report on Tuesday, October 1st. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Realty Income presently has a consensus rating of "Hold" and an average target price of $63.92.

Insiders Place Their Bets

In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of Realty Income stock in a transaction that occurred 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 transaction, the director now owns 26,579 shares of the company's stock, valued at $1,663,313.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Mary Hogan Preusse sold 1,712 shares of the firm's stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total value of $107,136.96. Following the completion of the transaction, the director now directly owns 26,579 shares in the company, valued at approximately $1,663,313.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director A. Larry Chapman sold 5,000 shares of Realty Income stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $60.77, for a total transaction of $303,850.00. Following the completion of the transaction, the director now owns 5,257 shares in the company, valued at approximately $319,467.89. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company's stock.

Institutional Trading of Realty Income

A number of large investors have recently made changes to their positions in O. Prime Capital Investment Advisors LLC raised its stake in Realty Income by 6.1% during the third quarter. Prime Capital Investment Advisors LLC now owns 15,323 shares of the real estate investment trust's stock valued at $972,000 after purchasing an additional 875 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Realty Income by 1.8% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,328,294 shares of the real estate investment trust's stock worth $274,500,000 after purchasing an additional 78,562 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its stake in Realty Income by 5.7% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 16,593 shares of the real estate investment trust's stock valued at $1,052,000 after purchasing an additional 894 shares during the last quarter. Patron Partners LLC raised its holdings in Realty Income by 13.7% in the third quarter. Patron Partners LLC now owns 9,564 shares of the real estate investment trust's stock worth $607,000 after purchasing an additional 1,153 shares in the last quarter. Finally, WealthPlan Investment Management LLC lifted its position in shares of Realty Income by 2.9% during the third quarter. WealthPlan Investment Management LLC now owns 130,041 shares of the real estate investment trust's stock valued at $8,247,000 after buying an additional 3,712 shares during the last quarter. 70.81% of the stock is currently owned by institutional investors.

Realty Income Stock Down 0.8 %

The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.39 and a current ratio of 1.39. The firm has a market capitalization of $51.22 billion, a P/E ratio of 53.91, a PEG ratio of 4.09 and a beta of 0.99. The business's fifty day moving average price is $62.23 and its two-hundred day moving average price is $57.82.

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.