Realty Income Co. (NYSE:O) Plans Jul 24 Dividend of $0.26

Realty Income Co. (NYSE:O) announced a jul 24 dividend on Tuesday, June 11th, RTT News reports. Investors of record on Monday, July 1st will be given a dividend of 0.263 per share by the real estate investment trust on Monday, July 15th. This represents a yield of 6%. The ex-dividend date is Monday, July 1st. This is an increase from Realty Income’s previous jul 24 dividend of $0.26.

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 every year for the last 32 years. Realty Income has a dividend payout ratio of 200.0% 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 $4.36 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 72.5%.

Realty Income Trading Up 0.7 %

Shares of Realty Income stock opened at $52.82 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.83 and a current ratio of 1.83. The firm has a 50-day moving average of $53.63 and a 200-day moving average of $54.12. Realty Income has a 52-week low of $45.03 and a 52-week high of $64.18. The stock has a market cap of $45.99 billion, a PE ratio of 48.91, a PEG ratio of 4.60 and a beta of 0.94.

Realty Income (NYSE:O) last issued its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.87). Realty Income had a net margin of 17.74% and a return on equity of 3.26%. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the firm posted $0.98 earnings per share. The company’s quarterly revenue was up 33.5% on a year-over-year basis. As a group, sell-side analysts forecast that Realty Income will post 4.2 EPS for the current year.

Insider Transactions at Realty Income

In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of Realty Income stock in a transaction 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 directly owns 6,257 shares of the company’s stock, valued at approximately $339,317.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on O. Scotiabank lifted their price target on Realty Income from $54.00 to $56.00 and gave the company a “sector perform” rating in a research note on Thursday, May 16th. KeyCorp started coverage on Realty Income in a research note on Wednesday, June 12th. They set a “sector weight” rating for the company. UBS Group reduced their price target on shares of Realty Income from $67.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Finally, Mizuho upped their price objective on shares of Realty Income from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Realty Income has an average rating of “Hold” and a consensus target price of $61.35.

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.