Realty Income Co. (NYSE:O) Announces $0.26 Nov 24 Dividend

Realty Income Co. (NYSE:O) declared a nov 24 dividend on Tuesday, October 8th, RTT News reports. Investors of record on Friday, November 1st will be paid a dividend of 0.2635 per share by the real estate investment trust on Friday, November 15th.

Realty Income has raised its dividend payment by an average of 3.0% per year 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 203.9% 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 Stock Down 0.3 %

NYSE O traded down $0.16 during trading hours on Tuesday, hitting $61.51. 4,434,906 shares of the company were exchanged, compared to its average volume of 5,812,129. The firm has a market cap of $53.56 billion, a price-to-earnings ratio of 56.81, a PEG ratio of 4.34 and a beta of 0.99. The company has a 50 day moving average of $61.41 and a two-hundred day moving average of $56.50. Realty Income has a 52-week low of $45.03 and a 52-week high of $63.60. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.66.

Realty Income (NYSE:O) last announced 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). The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Realty Income had a net margin of 17.89% and a return on equity of 3.27%. Realty Income’s revenue was up 31.4% on a year-over-year basis. During the same period last year, the firm earned $1.00 earnings per share. Equities research analysts anticipate that Realty Income will post 4.2 earnings per share for the current year.

Insider Activity

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 transaction, the director now owns 26,579 shares in the company, valued at $1,663,313.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related 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 value of $107,136.96. Following the sale, the director now directly owns 26,579 shares of the company’s stock, valued at $1,663,313.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $60.77, for a total transaction of $303,850.00. Following the transaction, the director now directly owns 5,257 shares in the company, valued at $319,467.89. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on O shares. Stifel Nicolaus boosted their price target on Realty Income from $67.50 to $70.25 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Royal Bank of Canada boosted their target price on Realty Income from $58.00 to $64.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Robert W. Baird raised their price target on Realty Income from $57.00 to $58.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Scotiabank boosted their price objective on shares of Realty Income from $61.00 to $64.00 and gave the stock a “sector perform” rating in a research report on Tuesday, September 17th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $65.00 target price (up from $62.00) on shares of Realty Income in a report on Tuesday, October 1st. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $62.80.

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.