Realty Income Co. (NYSE:O) Declares Monthly Dividend of $0.26

Realty Income Co. (NYSE:O) announced a monthly dividend on Friday, November 8th,Wall Street Journal reports. Investors of record on Monday, December 2nd will be paid a dividend of 0.2635 per share by the real estate investment trust on Friday, December 13th. This represents a $3.16 dividend on an annualized basis and a yield of 5.46%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Realty Income’s previous monthly dividend of $0.24.

Realty Income has increased its dividend payment by an average of 3.0% per year over the last three years and has raised its dividend every year for the last 32 years. Realty Income has a payout ratio of 207.9% indicating that 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 Down 0.7 %

Shares of O stock opened at $57.89 on Friday. The firm has a market capitalization of $50.67 billion, a P/E ratio of 55.13, a P/E/G ratio of 4.10 and a beta of 0.99. Realty Income has a twelve month low of $50.65 and a twelve month high of $64.88. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.68. The stock’s fifty day simple moving average is $60.36 and its 200 day simple moving average is $58.17.

Realty Income (NYSE:O) last announced its earnings results on Monday, November 4th. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.75). The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.26 billion. Realty Income had a return on equity of 2.35% and a net margin of 17.57%. The firm’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.02 earnings per share. As a group, sell-side analysts predict that Realty Income will post 4.19 EPS for the current fiscal year.

Insider Activity at Realty Income

In related news, Director Mary Hogan Preusse sold 1,712 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total value of $107,136.96. Following the transaction, the director now owns 26,579 shares in the company, valued at approximately $1,663,313.82. This represents a 6.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Mizuho downgraded Realty Income from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $64.00 to $60.00 in a research note on Thursday, November 14th. Robert W. Baird boosted their price objective on Realty Income from $57.00 to $58.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Wedbush assumed coverage on Realty Income in a research note on Monday, August 19th. They issued a “neutral” rating and a $64.00 price objective on the stock. Scotiabank boosted their price objective on Realty Income from $61.00 to $64.00 and gave the company a “sector perform” rating in a research note on Tuesday, September 17th. Finally, Royal Bank of Canada dropped their price objective on Realty Income from $67.00 to $63.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Realty Income has a consensus rating of “Hold” and a consensus target price of $63.85.

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.