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

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

Realty Income has increased 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 185.5% meaning 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 Trading Down 0.2 %

Shares of Realty Income stock opened at $53.71 on Friday. Realty Income has a 52-week low of $45.03 and a 52-week high of $64.18. The firm has a 50-day moving average of $52.65 and a 200-day moving average of $53.50. The stock has a market cap of $46.25 billion, a PE ratio of 42.63, a PEG ratio of 5.57 and a beta of 0.92. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.28 and a current ratio of 1.28.

Realty Income (NYSE:O) last posted its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.72). The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.02 billion. Realty Income had a return on equity of 4.06% and a net margin of 21.39%. The company’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.00 EPS. As a group, sell-side analysts forecast that Realty Income will post 4.16 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the firm’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 value of $271,150.00. Following the completion of the sale, the director now 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 company insiders.

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.