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

Realty Income Co. (NYSE:O) announced a may 24 dividend on Tuesday, April 9th, RTT News reports. Investors of record on Wednesday, May 1st will be given a dividend of 0.257 per share by the real estate investment trust on Wednesday, May 15th. This represents a dividend yield of 5.9%. The ex-dividend date of this dividend is Tuesday, April 30th.

Realty Income has raised its dividend payment by an average of 3.0% per year over the last three years and has raised its dividend annually for the last 32 consecutive years. Realty Income has a dividend 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 analysts expect Realty Income to earn $4.30 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 71.6%.

Realty Income Stock Performance

Realty Income stock opened at $53.71 on Monday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $46.25 billion, a P/E ratio of 42.63, a PEG ratio of 5.57 and a beta of 0.92. The stock’s 50 day moving average is $52.65 and its 200 day moving average is $53.52. Realty Income has a twelve month low of $45.03 and a twelve month high of $64.18.

Realty Income (NYSE:O) last released its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.72). The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.02 billion. Realty Income had a net margin of 21.39% and a return on equity of 4.06%. The business’s revenue was up 21.1% compared to the same quarter last year. During the same period last year, the company posted $1.00 earnings per share. On average, equities research analysts predict that Realty Income will post 4.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $54.23, for a total transaction of $271,150.00. Following the sale, the director now directly owns 6,257 shares of the company’s stock, valued at $339,317.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

O has been the topic of several research analyst reports. BMO Capital Markets initiated coverage on Realty Income in a report on Tuesday, February 13th. They set a “market perform” rating and a $57.00 price target on the stock. StockNews.com raised Realty Income from a “sell” rating to a “hold” rating in a report on Thursday, February 8th. Mizuho decreased their target price on Realty Income from $60.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, March 7th. Stifel Nicolaus decreased their target price on Realty Income from $67.75 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. Finally, Royal Bank of Canada raised their target price on Realty Income from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, January 11th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $60.96.

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.