Realty Income Co. (NYSE:O) to Issue Dividend Increase – $0.26 Per Share

Realty Income Co. (NYSE:O) declared a oct 24 dividend on Tuesday, September 10th, RTT News reports. Shareholders of record on Tuesday, October 1st will be given a dividend of 0.2635 per share by the real estate investment trust on Tuesday, October 15th. This represents a yield of 5%. The ex-dividend date of this dividend is Tuesday, October 1st. This is an increase from Realty Income’s previous oct 24 dividend of $0.26.

Realty Income has raised its dividend payment 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 201.3% indicating that 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 $4.35 per share next year, which means the company should continue to be able to cover its $3.16 annual dividend with an expected future payout ratio of 72.6%.

Realty Income Price Performance

NYSE O opened at $62.73 on Monday. The company has a market cap of $54.62 billion, a PE ratio of 58.08, a P/E/G ratio of 4.34 and a beta of 0.99. Realty Income has a 52-week low of $45.03 and a 52-week high of $63.39. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.39 and a current ratio of 1.39. The firm’s 50 day moving average price is $60.83 and its 200-day moving average price is $56.06.

Realty Income (NYSE:O) last announced its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Realty Income had a net margin of 17.89% and a return on equity of 3.27%. The company’s revenue was up 31.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.00 earnings per share. Sell-side analysts forecast that Realty Income will post 4.2 EPS for the current fiscal year.

Insider Buying and Selling at Realty Income

In related news, Director Mary Hogan Preusse sold 1,712 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total transaction of $107,136.96. Following the completion of the transaction, the director now owns 26,579 shares of the company’s stock, valued at $1,663,313.82. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Mary Hogan Preusse sold 1,712 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total transaction of $107,136.96. Following the sale, the director now directly owns 26,579 shares of the company’s stock, valued at approximately $1,663,313.82. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director A. Larry Chapman sold 5,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $60.77, for a total value of $303,850.00. Following the transaction, the director now owns 5,257 shares in the company, valued at approximately $319,467.89. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

O has been the subject of several analyst reports. UBS Group increased their price target on shares of Realty Income from $61.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. KeyCorp initiated coverage on shares of Realty Income in a research note on Wednesday, June 12th. They set a “sector weight” rating for the company. Wells Fargo & Company raised their target price on shares of Realty Income from $57.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, August 26th. Robert W. Baird upped their price target on Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Finally, Scotiabank increased their price objective on Realty Income from $61.00 to $64.00 and gave the company a “sector perform” rating in a report on Tuesday, September 17th. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Realty Income has a consensus rating of “Hold” and an average price target of $62.59.

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.