Realty Income Co. (NYSE:O) announced a oct 20 dividend on Thursday, October 15th, RTT News reports. Investors of record on Monday, November 2nd will be given a dividend of 0.234 per share by the real estate investment trust on Friday, November 13th. This represents a yield of 4.8%. The ex-dividend date is Friday, October 30th.
Realty Income has raised its dividend payment by 13.1% over the last three years. Realty Income has a dividend payout ratio of 199.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Realty Income to earn $3.49 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 80.5%.
O stock opened at $57.81 on Thursday. The business has a fifty day moving average price of $61.89 and a 200 day moving average price of $58.93. Realty Income has a fifty-two week low of $38.00 and a fifty-two week high of $84.92. The stock has a market capitalization of $19.95 billion, a price-to-earnings ratio of 39.60, a P/E/G ratio of 5.27 and a beta of 0.64. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.94 and a quick ratio of 2.94.
Realty Income (NYSE:O) last released its quarterly earnings results on Monday, August 3rd. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.45). Realty Income had a net margin of 30.30% and a return on equity of 4.89%. The business had revenue of $414.60 million for the quarter, compared to analyst estimates of $356.77 million. During the same period in the prior year, the business earned $0.82 earnings per share. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, equities analysts expect that Realty Income will post 3.34 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on O shares. Morgan Stanley raised their price target on Realty Income from $60.00 to $64.00 and gave the company an “overweight” rating in a report on Friday, August 21st. Mizuho lifted their target price on Realty Income from $58.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, September 29th. Deutsche Bank Aktiengesellschaft lifted 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. Scotiabank raised Realty Income from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $66.00 to $72.00 in a research note on Friday, October 9th. Finally, Citigroup lifted their target price on Realty Income from $49.00 to $61.00 and gave the company a “neutral” rating in a research note on Thursday, July 2nd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $67.77.
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 6,500 real estate properties owned under long-term lease agreements with commercial tenants.
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