Realty Income Co. Declares 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 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 raised its dividend annually for the last 32 consecutive years. Realty Income has a 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 Price Performance

Shares of NYSE:O opened at $53.71 on Monday. The company’s fifty day moving average price is $52.65 and its 200 day moving average price is $53.52. Realty Income has a 12 month low of $45.03 and a 12 month high of $64.18. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.28 and a quick ratio of 1.28. The firm has a market capitalization of $46.25 billion, a P/E ratio of 42.63, a P/E/G ratio of 5.57 and a beta of 0.92.

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

Wall Street Analyst Weigh In

A number of research firms have commented on O. Stifel Nicolaus dropped their price objective on shares of Realty Income from $67.75 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. StockNews.com upgraded shares of Realty Income from a “sell” rating to a “hold” rating in a research note on Thursday, February 8th. Mizuho dropped their price target on shares of Realty Income from $60.00 to $56.00 and set a “buy” rating on the stock in a research note on Thursday, March 7th. BMO Capital Markets assumed coverage on shares of Realty Income in a research note on Tuesday, February 13th. They set a “market perform” rating and a $57.00 price target on the stock. Finally, Royal Bank of Canada boosted their price target on shares of Realty Income from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, January 11th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $60.96.

Insider Activity at Realty Income

In related news, Director A. Larry Chapman sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $54.23, for a total transaction of $271,150.00. Following the transaction, 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 accessible through this link. Insiders own 0.10% of the company’s stock.

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.