Realty Income Co. (NYSE:O) Announces Dividend Increase - $0.26 Per Share

Realty Income Co. (NYSE:O - Get Free Report) declared a monthly dividend on Monday, November 11th,Wall Street Journal reports. Stockholders of record on Monday, December 2nd will be given 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 dividend yield of 5.48%. 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 raised its dividend 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 payout ratio of 206.5% indicating that 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 $4.35 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 Trading Up 0.2 %

Realty Income stock traded up $0.14 during midday trading on Monday, reaching $57.65. The stock had a trading volume of 5,033,172 shares, compared to its average volume of 5,697,881. The firm's fifty day simple moving average is $61.87 and its two-hundred day simple moving average is $57.93. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.39. Realty Income has a twelve month low of $49.52 and a twelve month high of $64.88. The firm has a market cap of $50.46 billion, a price-to-earnings ratio of 55.53, a PEG ratio of 4.00 and a beta of 0.99.

Realty Income (NYSE:O - Get Free Report) last issued its earnings results on Monday, November 4th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts' consensus estimates of $1.05 by ($0.75). The business 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%. Realty Income's revenue for the quarter was up 28.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.02 EPS. Equities analysts anticipate that Realty Income will post 4.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wells Fargo & Company reissued an "equal weight" rating and issued a $65.00 price target (up previously from $62.00) on shares of Realty Income in a research note on Tuesday, October 1st. Morgan Stanley reaffirmed an "equal weight" rating and issued a $62.00 price target on shares of Realty Income in a research report on Tuesday, August 6th. Royal Bank of Canada decreased their price target on Realty Income from $67.00 to $63.00 and set an "outperform" rating for the company in a research note on Wednesday, November 6th. Scotiabank raised their price objective on Realty Income from $61.00 to $64.00 and gave the company a "sector perform" rating in a research note on Tuesday, September 17th. Finally, Wedbush began coverage on shares of Realty Income in a research note on Monday, August 19th. They issued a "neutral" rating and a $64.00 price objective for the company. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $63.85.

Insider Buying and Selling at Realty Income

In other news, Director A. Larry Chapman sold 5,000 shares of the business's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $60.77, for a total value of $303,850.00. Following the completion of the transaction, the director now owns 5,257 shares of the company's stock, valued at $319,467.89. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Realty Income news, Director A. Larry Chapman sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $60.77, for a total transaction of $303,850.00. Following the sale, the director now directly owns 5,257 shares in the company, valued at approximately $319,467.89. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mary Hogan Preusse sold 1,712 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $62.58, for a total value of $107,136.96. Following the transaction, the director now owns 26,579 shares of the company's stock, valued at approximately $1,663,313.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.10% of the company's stock.

Realty Income Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.