Realty Income Co. (NYSE:O) Declares Monthly Dividend of $0.26

Realty Income Co. (NYSE:O) announced a monthly dividend on Friday, November 8th,Wall Street Journal reports. Shareholders of record on Monday, December 2nd will be paid a dividend of 0.2635 per share by the real estate investment trust on Friday, December 13th. This represents a $3.16 annualized dividend and a yield of 5.46%. The ex-dividend date is Monday, December 2nd. This is an increase from Realty Income’s previous monthly dividend of $0.24.

Realty Income has increased 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 dividend payout ratio of 207.9% 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

Shares of NYSE O opened at $57.89 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.40 and a current ratio of 1.40. The company has a market cap of $50.67 billion, a PE ratio of 55.13, a P/E/G ratio of 4.10 and a beta of 0.99. The business has a 50-day simple moving average of $60.36 and a two-hundred day simple moving average of $58.17. Realty Income has a fifty-two week low of $50.65 and a fifty-two week high of $64.88.

Realty Income (NYSE:O) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.75). The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.26 billion. Realty Income had a return on equity of 2.35% and a net margin of 17.57%. Realty Income’s revenue was up 28.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.02 EPS. As a group, equities analysts expect that Realty Income will post 4.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on O shares. Stifel Nicolaus lowered their price target on Realty Income from $70.50 to $70.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Royal Bank of Canada reduced their price objective on Realty Income from $67.00 to $63.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Scotiabank raised their price objective on Realty Income from $61.00 to $64.00 and gave the stock a “sector perform” rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. raised their price objective on Realty Income from $60.00 to $67.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 3rd. Finally, Robert W. Baird raised their price objective on Realty Income from $57.00 to $58.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $63.85.

Insider Activity

In other news, Director Mary Hogan Preusse sold 1,712 shares of Realty Income stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total value of $107,136.96. Following the sale, the director now directly owns 26,579 shares of the company’s stock, valued at $1,663,313.82. The trade was a 6.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.10% of the company’s stock.

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.