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

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

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 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 Stock Down 0.7 %

Shares of Realty Income stock opened at $57.89 on Friday. The firm has a market cap of $50.67 billion, a price-to-earnings ratio of 55.13, a PEG ratio of 4.10 and a beta of 0.99. The stock’s 50-day moving average is $60.36 and its 200 day moving average is $58.17. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.40. Realty Income has a one year low of $50.65 and a one year high of $64.88.

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

Insider Buying and Selling at Realty Income

In other news, Director Mary Hogan Preusse sold 1,712 shares of the business’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 $1,663,313.82. The trade was a 6.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on O shares. Scotiabank lifted their price target on shares of Realty Income from $61.00 to $64.00 and gave the company a “sector perform” rating in a research note on Tuesday, September 17th. UBS Group decreased their target price on Realty Income from $72.00 to $71.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Royal Bank of Canada cut 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. Stifel Nicolaus decreased their price objective on Realty Income from $70.50 to $70.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Finally, Wedbush started coverage on Realty Income in a research report on Monday, August 19th. They set a “neutral” rating and a $64.00 target price on the stock. Ten 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.com, Realty Income currently has a consensus rating of “Hold” and an average 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.