Realty Income Co. (NYSE:O) Raises Dividend to $0.26 Per Share

Realty Income Co. (NYSE:O) declared a oct 24 dividend on Tuesday, September 10th, RTT News reports. Shareholders of record on Tuesday, October 1st will be given a dividend of 0.2635 per share by the real estate investment trust on Tuesday, October 15th. This represents a yield of 5%. The ex-dividend date is Tuesday, October 1st. This is a boost from Realty Income’s previous oct 24 dividend of $0.26.

Realty Income has raised its dividend by an average of 3.0% annually over the last three years and has increased its dividend annually for the last 32 consecutive years. Realty Income has a dividend payout ratio of 201.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Realty Income to earn $4.35 per share next year, which means the company should continue to be able to cover its $3.16 annual dividend with an expected future payout ratio of 72.6%.

Realty Income Trading Up 0.4 %

O opened at $62.73 on Friday. Realty Income has a fifty-two week low of $45.03 and a fifty-two week high of $63.39. The company has a market cap of $54.62 billion, a price-to-earnings ratio of 58.08, a price-to-earnings-growth ratio of 4.34 and a beta of 0.99. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.39 and a quick ratio of 1.39. The firm has a 50 day simple moving average of $60.83 and a 200 day simple moving average of $56.04.

Realty Income (NYSE:O) last posted its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). Realty Income had a net margin of 17.89% and a return on equity of 3.27%. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the company earned $1.00 EPS. The business’s revenue for the quarter was up 31.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Realty Income will post 4.2 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on O. Wedbush started coverage on shares of Realty Income in a report on Monday, August 19th. They set a “neutral” rating and a $64.00 price objective for the company. 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. UBS Group boosted their target price on Realty Income from $61.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Stifel Nicolaus raised their price target on Realty Income from $67.50 to $70.25 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Finally, Royal Bank of Canada lifted their price objective on Realty Income from $58.00 to $64.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $62.59.

Insider Buying and Selling

In other news, Director Mary Hogan Preusse sold 1,712 shares of the business’s stock in a transaction dated 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 directly owns 26,579 shares in the company, valued at approximately $1,663,313.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Realty Income news, Director Mary Hogan Preusse sold 1,712 shares of Realty Income 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 transaction, the director now directly owns 26,579 shares of the company’s stock, valued at $1,663,313.82. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were 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 directly owns 5,257 shares in the company, valued at $319,467.89. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

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.