Realty Income Co. (O) To Go Ex-Dividend on December 2nd

Realty Income Co. (NYSE:O) declared a monthly dividend on Friday, November 8th,Wall Street Journal reports. Shareholders 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 dividend yield of 5.46%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Realty Income’s previous monthly dividend of $0.24.

Realty Income has raised its dividend 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 dividend 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. Equities 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 Price Performance

Shares of NYSE O opened at $57.89 on Friday. Realty Income has a fifty-two week low of $50.65 and a fifty-two week high of $64.88. The company has a 50 day simple moving average of $60.36 and a two-hundred day simple moving average of $58.17. The company has a market capitalization of $50.67 billion, a price-to-earnings ratio of 55.13, a P/E/G ratio of 4.10 and a beta of 0.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.40 and a current ratio of 1.40.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on O shares. Morgan Stanley reissued an “equal weight” rating and set a $62.00 price target on shares of Realty Income in a research report on Tuesday, August 6th. JPMorgan Chase & Co. raised their price target on shares of Realty Income from $60.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd. Wedbush started coverage on shares of Realty Income in a research report on Monday, August 19th. They issued a “neutral” rating and a $64.00 target price for the company. Royal Bank of Canada lowered their price target on Realty Income from $67.00 to $63.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Finally, UBS Group dropped their price target on Realty Income from $72.00 to $71.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Realty Income presently has a consensus rating of “Hold” and a consensus price target of $63.85.

Insiders Place Their Bets

In other news, Director Mary Hogan Preusse sold 1,712 shares of the firm’s 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 transaction, the director now owns 26,579 shares in the company, valued at approximately $1,663,313.82. This trade represents a 6.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.10% of the company’s stock.

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.