Realty Income (NYSE:O) Stock Price Down 1.8% Following Weak Earnings

Realty Income Co. (NYSE:O)’s share price traded down 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 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.75). Realty Income had a net margin of 17.57% and a return on equity of 2.38%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the company earned $1.02 earnings per share. The company’s quarterly revenue was up 28.1% on a year-over-year basis.

Realty Income Dividend Announcement

The company also recently announced a nov 24 dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a $0.2635 dividend. This represents a yield of 5.1%. The ex-dividend date of this dividend is Friday, November 1st. Realty Income’s dividend payout ratio is presently 300.96%.

Wall Street Analyst Weigh In

O has been the subject of a number of recent analyst reports. Scotiabank upped their price target on shares of Realty Income from $61.00 to $64.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 17th. Robert W. Baird upped their target price on Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $62.00 price target on shares of Realty Income in a report on Tuesday, August 6th. Wedbush initiated coverage on Realty Income in a report on Monday, August 19th. They set a “neutral” rating and a $64.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their target price on shares of Realty Income from $60.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $63.85.

Insiders Place Their Bets

In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of the business’s stock in a transaction 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 sale, the director now directly owns 26,579 shares of the company’s stock, valued at $1,663,313.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction that occurred 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 sale, the director now owns 5,257 shares of the company’s stock, valued at approximately $319,467.89. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mary Hogan Preusse sold 1,712 shares of Realty Income stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Realty Income

Several institutional investors have recently added to or reduced their stakes in O. Vanguard Group Inc. grew its position in shares of Realty Income by 18.3% in the 1st quarter. Vanguard Group Inc. now owns 134,768,614 shares of the real estate investment trust’s stock worth $7,290,982,000 after buying an additional 20,848,560 shares during the last quarter. Legal & General Group Plc boosted its holdings in Realty Income by 4.5% in the second quarter. Legal & General Group Plc now owns 12,258,468 shares of the real estate investment trust’s stock valued at $647,492,000 after acquiring an additional 531,008 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Realty Income by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 11,682,105 shares of the real estate investment trust’s stock valued at $617,043,000 after purchasing an additional 413,865 shares during the period. APG Asset Management US Inc. raised its holdings in Realty Income by 3.1% in the 2nd quarter. APG Asset Management US Inc. now owns 8,680,325 shares of the real estate investment trust’s stock worth $454,502,000 after purchasing an additional 265,000 shares in the last quarter. Finally, Centersquare Investment Management LLC lifted its position in shares of Realty Income by 14.9% in the 1st quarter. Centersquare Investment Management LLC now owns 6,824,420 shares of the real estate investment trust’s stock worth $365,379,000 after purchasing an additional 885,852 shares during the period. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Realty Income Stock Performance

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 company’s 50-day moving average price is $62.06 and its 200 day moving average price is $57.85. The stock has a market capitalization of $49.61 billion, a PE ratio of 54.25, a PEG ratio of 4.12 and a beta of 0.99.

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.