Realty Income Corp (NYSE:O) declared a sep 18 dividend on Tuesday, August 21st, RTT News reports. Investors of record on Tuesday, September 4th will be given a dividend of 0.22 per share by the real estate investment trust on Friday, September 14th. This represents a yield of 4.51%. The ex-dividend date is Friday, August 31st.
Realty Income has raised its dividend by an average of 4.9% per year over the last three years and has increased its dividend annually for the last 22 consecutive years. Realty Income has a payout ratio of 83.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Realty Income to earn $3.28 per share next year, which means the company should continue to be able to cover its $2.64 annual dividend with an expected future payout ratio of 80.5%.
Realty Income stock opened at $58.52 on Thursday. Realty Income has a 1-year low of $47.25 and a 1-year high of $60.05. The company has a market capitalization of $16.93 billion, a P/E ratio of 19.12, a price-to-earnings-growth ratio of 4.15 and a beta of 0.16. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.87.
Realty Income (NYSE:O) last released its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.45). Realty Income had a net margin of 25.96% and a return on equity of 5.05%. The business had revenue of $328.90 million during the quarter, compared to analysts’ expectations of $311.95 million. During the same quarter in the prior year, the firm posted $0.76 earnings per share. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. sell-side analysts forecast that Realty Income will post 3.18 EPS for the current year.
In other Realty Income news, COO Sumit Roy sold 18,682 shares of the business’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $57.49, for a total value of $1,074,028.18. Following the completion of the sale, the chief operating officer now directly owns 70,041 shares of the company’s stock, valued at $4,026,657.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Case sold 35,000 shares of the business’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $57.70, for a total transaction of $2,019,500.00. Following the completion of the sale, the chief executive officer now directly owns 158,961 shares of the company’s stock, valued at $9,172,049.70. The disclosure for this sale can be found here. Insiders have sold a total of 89,067 shares of company stock valued at $5,142,150 over the last ninety days. 0.20% of the stock is currently owned by insiders.
O has been the subject of several analyst reports. Mitsubishi UFJ Financial Group raised shares of Realty Income from a “neutral” rating to an “overweight” rating and raised their price target for the company from $54.00 to $62.00 in a report on Tuesday, July 10th. Bank of America raised their price target on shares of Realty Income from $53.50 to $57.50 and gave the company a “neutral” rating in a report on Monday, August 13th. Janney Montgomery Scott downgraded shares of Realty Income from a “buy” rating to a “neutral” rating and set a $44.00 price target for the company. in a report on Wednesday. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Realty Income from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. Finally, ValuEngine downgraded shares of Realty Income from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $57.41.
Realty Income Company Profile
Realty Income, The Monthly Dividend Company<sup>®</sup>, 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 5,300 real estate properties owned under long-term lease agreements with regional and national commercial tenants.
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