Realty Income Corp (NYSE:O) Increases Dividend to $0.23 Per Share

Realty Income Corp (NYSE:O) declared a oct 20 dividend on Thursday, September 17th, RTT News reports. Stockholders of record on Thursday, October 1st will be given a dividend of 0.234 per share by the real estate investment trust on Thursday, October 15th. This represents a dividend yield of 4.7%. The ex-dividend date is Wednesday, September 30th. This is a boost from Realty Income’s previous oct 20 dividend of $0.23.

Realty Income has increased its dividend by 13.1% over the last three years and has increased its dividend annually for the last 25 consecutive years. Realty Income has a payout ratio of 203.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Realty Income to earn $3.47 per share next year, which means the company should continue to be able to cover its $2.81 annual dividend with an expected future payout ratio of 81.0%.

Shares of NYSE:O opened at $61.67 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.94 and a current ratio of 2.94. Realty Income has a 1 year low of $38.00 and a 1 year high of $84.92. The stock has a market capitalization of $21.28 billion, a P/E ratio of 42.24, a PEG ratio of 5.90 and a beta of 0.61. The stock has a 50-day simple moving average of $62.48 and a 200-day simple moving average of $57.84.

Realty Income (NYSE:O) last issued its earnings results on Monday, August 3rd. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.45). The firm had revenue of $414.60 million for the quarter, compared to analysts’ expectations of $356.77 million. Realty Income had a return on equity of 4.89% and a net margin of 30.30%. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.82 EPS. Analysts predict that Realty Income will post 3.33 earnings per share for the current year.

O has been the subject of a number of analyst reports. Citigroup upped their price target on Realty Income from $49.00 to $61.00 and gave the stock a “neutral” rating in a report on Thursday, July 2nd. Raymond James increased their target price on Realty Income from $66.00 to $71.00 and gave the company an “outperform” rating in a research note on Thursday, June 11th. They noted that the move was a valuation call. Deutsche Bank increased their target price on Realty Income from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, July 27th. TheStreet upgraded Realty Income from a “c+” rating to a “b-” rating in a research note on Wednesday, July 1st. Finally, Morgan Stanley increased their target price on Realty Income from $60.00 to $64.00 and gave the company an “overweight” rating in a research note on Friday, August 21st. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Realty Income has a consensus rating of “Buy” and an average target price of $72.23.

About Realty Income

Realty Income, The Monthly Dividend Company, 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 5,700 real estate properties owned under long-term lease agreements with regional and national commercial tenants.

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Dividend History for Realty Income (NYSE:O)

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