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

Realty Income Co. (NYSE:O) announced a jul 24 dividend on Tuesday, June 11th, RTT News reports. Investors of record on Monday, July 1st will be given a dividend of 0.263 per share by the real estate investment trust on Monday, July 15th. This represents a yield of 6%. The ex-dividend date is Monday, July 1st. This is a positive change from Realty Income’s previous jul 24 dividend of $0.26.

Realty Income has raised its dividend 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 payout ratio of 200.0% 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 $4.36 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 72.5%.

Realty Income Price Performance

NYSE:O opened at $52.82 on Friday. The stock has a 50 day moving average of $53.63 and a two-hundred day moving average of $54.12. Realty Income has a 12 month low of $45.03 and a 12 month high of $64.18. The firm has a market cap of $45.99 billion, a P/E ratio of 48.91, a price-to-earnings-growth ratio of 4.60 and a beta of 0.94. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.65.

Realty Income (NYSE:O) last issued its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.16 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.87). The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Realty Income had a return on equity of 3.26% and a net margin of 17.74%. The firm’s revenue for the quarter was up 33.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 earnings per share. On average, analysts expect that Realty Income will post 4.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on O. Scotiabank boosted their price target on shares of Realty Income from $54.00 to $56.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th. UBS Group lowered their target price on Realty Income from $67.00 to $61.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Mizuho increased their price target on Realty Income from $56.00 to $59.00 and gave the company a “buy” rating in a report on Friday, May 10th. Finally, KeyCorp assumed coverage on Realty Income in a research note on Wednesday, June 12th. They set a “sector weight” rating on the stock. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Realty Income currently has an average rating of “Hold” and a consensus target price of $61.35.

Insider Buying and Selling at Realty Income

In related news, Director A. Larry Chapman sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $54.23, for a total transaction of $271,150.00. Following the completion of the transaction, the director now directly owns 6,257 shares in the company, valued at approximately $339,317.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.10% of the stock is owned by corporate insiders.

About Realty Income

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.