Realty Income Co. (NYSE:O) Announces $0.26 Jun 24 Dividend

Realty Income Co. (NYSE:OGet Free Report) announced a jun 24 dividend on Friday, May 17th, RTT News reports. Investors of record on Monday, June 3rd will be given a dividend of 0.2625 per share by the real estate investment trust on Friday, June 14th.

Realty Income has raised its dividend by an average of 3.0% annually over the last three years and has increased its dividend annually for the last 32 consecutive years. Realty Income has a payout ratio of 189.0% 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 research analysts expect Realty Income to earn $4.32 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 71.3%.

Realty Income Stock Down 0.1 %

Shares of O opened at $55.15 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.65. The firm has a market cap of $48.02 billion, a P/E ratio of 51.06, a PEG ratio of 5.69 and a beta of 0.92. The stock’s 50 day moving average is $53.36 and its two-hundred day moving average is $54.01. Realty Income has a 12 month low of $45.03 and a 12 month high of $64.18.

Realty Income (NYSE:OGet Free Report) last posted its quarterly earnings data on Monday, May 6th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.87). The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Realty Income had a net margin of 17.74% and a return on equity of 3.26%. During the same period in the previous year, the business earned $0.98 earnings per share. The business’s revenue for the quarter was up 33.5% on a year-over-year basis. Analysts predict that Realty Income will post 4.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

O has been the subject of several recent research reports. BMO Capital Markets initiated coverage on Realty Income in a report on Tuesday, February 13th. They issued a “market perform” rating and a $57.00 price target for the company. Scotiabank boosted their price target on shares of Realty Income from $54.00 to $56.00 and gave the company a “sector perform” rating in a research report on Thursday. Mizuho raised their price objective on shares of Realty Income from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. StockNews.com upgraded shares of Realty Income from a “sell” rating to a “hold” rating in a report on Thursday, February 8th. Finally, Stifel Nicolaus cut their price target on shares of Realty Income from $67.75 to $65.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Realty Income presently has a consensus rating of “Hold” and a consensus target price of $61.38.

Check Out Our Latest Report on O

Insider Buying and Selling

In related news, Director A. Larry Chapman sold 5,000 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were 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 owns 6,257 shares in the company, valued at $339,317.11. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.10% of the company’s stock.

Realty Income Company Profile

(Get Free Report)

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.

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Dividend History for Realty Income (NYSE:O)

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