Realty Income Corp (NYSE:O) declared a jul 20 dividend on Tuesday, June 9th, RTT News reports. Investors of record on Wednesday, July 1st will be given a dividend of 0.2335 per share by the real estate investment trust on Wednesday, July 15th. This represents a yield of 4.8%. The ex-dividend date is Tuesday, June 30th. This is an increase from Realty Income’s previous jul 20 dividend of $0.23.
Realty Income has raised its dividend payment by an average of 159.4% annually over the last three years and has increased its dividend annually for the last 24 consecutive years. Realty Income has a dividend payout ratio of 186.7% meaning 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 $3.61 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 77.6%.
O opened at $58.41 on Monday. Realty Income has a 12 month low of $38.00 and a 12 month high of $84.92. The stock has a market capitalization of $20.06 billion, a price-to-earnings ratio of 40.01, a PEG ratio of 5.39 and a beta of 0.66. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 1.25. The business has a fifty day moving average price of $56.97 and a 200 day moving average price of $64.97.
Realty Income (NYSE:O) last released its earnings results on Monday, May 4th. The real estate investment trust reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.39). The company had revenue of $414.30 million for the quarter, compared to analyst estimates of $399.61 million. Realty Income had a return on equity of 4.95% and a net margin of 30.44%. The company’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.37 earnings per share. On average, research analysts anticipate that Realty Income will post 3.41 earnings per share for the current year.
A number of brokerages have issued reports on O. DA Davidson decreased their price target on Realty Income from $90.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, March 19th. TheStreet downgraded Realty Income from a “b-” rating to a “c+” rating in a report on Thursday, April 16th. Wells Fargo & Co boosted their target price on Realty Income from $55.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, June 10th. Deutsche Bank raised Realty Income from a “hold” rating to a “buy” rating and reduced their target price for the company from $78.00 to $66.00 in a report on Wednesday, March 25th. Finally, JPMorgan Chase & Co. boosted their target price on Realty Income from $76.00 to $79.00 and gave the company a “neutral” rating in a report on Monday, March 9th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $72.29.
Realty Income Company Profile
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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