Realty Income Corp (NYSE:O) Declares $0.23 Sep 19 Dividend
Realty Income Corp (NYSE:O) announced a sep 19 dividend on Tuesday, September 17th, RTT News reports. Investors of record on Tuesday, October 1st will be given a dividend of 0.227 per share by the real estate investment trust on Tuesday, October 15th. The ex-dividend date of this dividend is Monday, September 30th.
Realty Income has raised its dividend payment by an average of 5.0% per year over the last three years and has raised its dividend every year for the last 23 years. Realty Income has a dividend payout ratio of 85.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Realty Income to earn $3.52 per share next year, which means the company should continue to be able to cover its $2.72 annual dividend with an expected future payout ratio of 77.3%.
O stock traded down $0.44 during trading on Wednesday, hitting $75.33. The company had a trading volume of 19,491 shares, compared to its average volume of 1,393,566. Realty Income has a fifty-two week low of $55.55 and a fifty-two week high of $76.73. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $24.09 billion, a price-to-earnings ratio of 23.60, a P/E/G ratio of 5.70 and a beta of 0.08. The business has a 50 day moving average of $72.77 and a 200 day moving average of $71.10.
In other Realty Income news, Director A. Larry Chapman sold 8,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $75.09, for a total transaction of $600,720.00. Following the completion of the sale, the director now directly owns 14,757 shares of the company’s stock, valued at $1,108,103.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Paul M. Meurer sold 10,000 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $75.33, for a total transaction of $753,300.00. Following the sale, the chief financial officer now directly owns 30,468 shares of the company’s stock, valued at $2,295,154.44. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.
A number of equities research analysts have weighed in on the stock. ValuEngine downgraded shares of Realty Income from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Wells Fargo & Co set a $82.00 price target on shares of Realty Income and gave the company a “buy” rating in a report on Tuesday, September 3rd. Deutsche Bank assumed coverage on shares of Realty Income in a report on Tuesday, August 27th. They issued a “hold” rating and a $73.00 price target for the company. Stifel Nicolaus upped their price target on shares of Realty Income from $75.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, Morgan Stanley upped their price target on shares of Realty Income from $72.00 to $75.00 and gave the company an “equal weight” rating in a report on Tuesday. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Realty Income has an average rating of “Hold” and an average price target of $74.22.
About Realty Income
Realty Income, The Monthly Dividend Company, is an S&P 500 company dedicated to providing stockholders with dependable monthly income. The company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 5,700 real estate properties owned under long-term lease agreements with regional and national commercial tenants.
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