Realty Income Corporation (NYSE:O) Announces Dividend Increase – $0.27 Per Share

Realty Income Corporation (NYSE:O) declared a monthly dividend on Tuesday, November 10th. Stockholders of record on Monday, November 30th will be paid a dividend of $0.2740 per share by the real estate investment trust on Tuesday, December 15th. This represents a $3.29 annualized dividend and a dividend yield of 5.6%. The ex-dividend date is Monday, November 30th. This is a 0.9% increase from Realty Income’s previous monthly dividend of $0.2715.

Realty Income has a payout ratio of 215.2% 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 $4.73 per share next year, which means the company should continue to be able to cover its $3.25 annual dividend with an expected future payout ratio of 68.7%.

Realty Income Stock Performance

Shares of O traded down $0.33 during mid-day trading on Wednesday, hitting $59.21. The stock had a trading volume of 816,020 shares, compared to its average volume of 6,457,461. Realty Income has a fifty-two week low of $53.15 and a fifty-two week high of $67.93. The company has a quick ratio of 6.04, a current ratio of 6.04 and a debt-to-equity ratio of 0.74. The company has a market cap of $56.31 billion, a PE ratio of 40.83, a PEG ratio of 4.59 and a beta of 0.65. The company’s fifty day simple moving average is $57.02 and its two-hundred day simple moving average is $61.53.

Realty Income (NYSE:O) last posted its quarterly earnings results on Monday, November 2nd. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.02. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.43 billion. Realty Income had a return on equity of 3.27% and a net margin of 21.85%. The business’s revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.08 EPS. On average, equities analysts expect that Realty Income will post 4.50 earnings per share for the current year.

Institutional Investors Weigh In On Realty Income

A number of hedge funds have recently added to or reduced their stakes in the stock. Private Wealth Asset Management LLC increased its holdings in shares of Realty Income by 1,176.3% in the 3rd quarter. Private Wealth Asset Management LLC now owns 57,984 shares of the real estate investment trust’s stock worth $3,423,000 after acquiring an additional 53,441 shares during the period. Voya Investment Management LLC boosted its stake in Realty Income by 1.8% during the 3rd quarter. Voya Investment Management LLC now owns 187,063 shares of the real estate investment trust’s stock valued at $10,158,000 after purchasing an additional 3,276 shares during the period. Bogart Wealth LLC boosted its stake in Realty Income by 94.7% during the 3rd quarter. Bogart Wealth LLC now owns 1,904 shares of the real estate investment trust’s stock valued at $103,000 after purchasing an additional 926 shares during the period. Public Sector Pension Investment Board grew its position in Realty Income by 97.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 526,895 shares of the real estate investment trust’s stock worth $28,932,000 after purchasing an additional 260,635 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Realty Income by 3.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 55,533 shares of the real estate investment trust’s stock worth $2,973,000 after purchasing an additional 2,008 shares during the last quarter. 70.81% of the stock is currently owned by institutional investors.

Realty Income Company Profile

Realty Income Corporation is a real estate investment trust (REIT) that owns and manages commercial properties leased to businesses. Its portfolio includes retail, industrial, gaming, and other properties, typically leased under long-term net lease agreements in which tenants are responsible for many property operating expenses. Founded in 1969, Realty Income is known as “The Monthly Dividend Company” for its monthly dividend payments. The company serves tenants across the United States and has expanded its property portfolio into Europe.