Realty Income Co. (O) to Issue Oct 24 Dividend of $0.26 on October 15th

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

Realty Income has increased its dividend by an average of 3.0% per year over the last three years and has increased its dividend every year for the last 32 years. Realty Income has a payout ratio of 198.7% meaning 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 $4.09 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 77.3%.

Realty Income Price Performance

Shares of NYSE O opened at $62.61 on Thursday. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.66. The stock has a market cap of $54.52 billion, a price-to-earnings ratio of 57.97, a PEG ratio of 4.64 and a beta of 0.99. The company’s 50-day moving average price is $59.10 and its 200 day moving average price is $55.21. Realty Income has a 52 week low of $45.03 and a 52 week high of $63.39.

Realty Income (NYSE:O) last announced its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.07). Realty Income had a net margin of 17.89% and a return on equity of 3.27%. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the company posted $1.00 EPS. The business’s quarterly revenue was up 31.4% on a year-over-year basis. As a group, research analysts forecast that Realty Income will post 3.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the business’s 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 of the company’s stock, valued at approximately $319,467.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

O has been the topic of several research analyst reports. Wells Fargo & Company lifted their price objective on Realty Income from $57.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, August 26th. Stifel Nicolaus raised their target price on shares of Realty Income from $67.50 to $70.25 and gave the company a “buy” rating in a research note on Wednesday, August 28th. UBS Group lifted their target price on shares of Realty Income from $61.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Scotiabank raised their price objective on Realty Income from $56.00 to $61.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Finally, JPMorgan Chase & Co. boosted their price objective on Realty Income from $60.00 to $67.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 3rd. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Realty Income presently has an average rating of “Hold” and a consensus target price of $62.38.

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.