Realty Income Co. (O) To Go Ex-Dividend on December 2nd

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 of this dividend is Monday, December 2nd. This is a positive change from Realty Income’s previous monthly dividend of $0.24.

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 annually for the last 32 consecutive years. Realty Income has a dividend payout ratio of 207.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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

NYSE:O opened at $57.89 on Friday. The stock has a market capitalization of $50.67 billion, a PE ratio of 55.13, a P/E/G ratio of 4.10 and a beta of 0.99. Realty Income has a 1-year low of $50.65 and a 1-year high of $64.88. The firm has a fifty day simple moving average of $60.36 and a 200 day simple moving average of $58.17. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.68.

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

Insider Activity

In related news, Director Mary Hogan Preusse sold 1,712 shares of Realty Income stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $62.58, for a total transaction of $107,136.96. Following the sale, the director now directly owns 26,579 shares in the company, valued at $1,663,313.82. This trade represents a 6.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on O shares. Wedbush initiated coverage on Realty Income in a report on Monday, August 19th. They set a “neutral” rating and a $64.00 price objective for the company. UBS Group dropped their price target on Realty Income from $72.00 to $71.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Robert W. Baird upped their price objective on Realty Income from $57.00 to $58.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Wells Fargo & Company reissued an “equal weight” rating and set a $65.00 target price (up previously from $62.00) on shares of Realty Income in a report on Tuesday, October 1st. Finally, Stifel Nicolaus reduced their target price on shares of Realty Income from $70.50 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Realty Income presently has an average rating of “Hold” and a consensus price target of $63.85.

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.