Realty Income Corporation (O) To Go Ex-Dividend on November 30th

Realty Income Corporation (NYSE:O) declared a monthly dividend on Tuesday, November 10th. Stockholders of record on Monday, November 30th will be paid a dividend of $0.2740 per share by the real estate investment trust on Tuesday, December 15th. This represents a $3.29 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date is Monday, November 30th. This is a 0.9% increase from Realty Income’s previous monthly dividend of $0.2715.

Realty Income has a dividend payout ratio of 215.2% 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 $4.73 per share next year, which means the company should continue to be able to cover its $3.25 annual dividend with an expected future payout ratio of 68.7%.

Realty Income Stock Performance

Realty Income stock opened at $59.60 on Thursday. The firm’s fifty day moving average price is $56.98 and its 200-day moving average price is $61.52. The company has a debt-to-equity ratio of 0.74, a quick ratio of 6.04 and a current ratio of 6.04. The stock has a market cap of $56.68 billion, a P/E ratio of 41.10, a price-to-earnings-growth ratio of 4.27 and a beta of 0.65. Realty Income has a fifty-two week low of $53.15 and a fifty-two week high of $67.93.

Realty Income (NYSE:O) last announced its earnings results on Monday, November 2nd. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.02. Realty Income had a net margin of 21.85% and a return on equity of 3.27%. The company had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the business earned $1.08 earnings per share. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, equities research analysts expect that Realty Income will post 4.50 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Mizuho set a $187.00 target price on Realty Income in a research note on Monday, October 19th. Stifel Nicolaus set a $63.75 price objective on Realty Income in a research report on Friday, October 9th. Cantor Fitzgerald dropped their target price on shares of Realty Income from $68.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, November 5th. Truist Financial increased their price target on shares of Realty Income from $60.00 to $63.00 and gave the stock a “hold” rating in a research note on Tuesday. Finally, Scotiabank cut shares of Realty Income from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $67.00 to $59.00 in a report on Wednesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Realty Income currently has an average rating of “Hold” and an average price target of $71.69.

About Realty Income

Realty Income Corporation is a real estate investment trust (REIT) that owns and manages commercial properties leased to businesses. Its portfolio includes retail, industrial, gaming, and other properties, typically leased under long-term net lease agreements in which tenants are responsible for many property operating expenses. Founded in 1969, Realty Income is known as “The Monthly Dividend Company” for its monthly dividend payments. The company serves tenants across the United States and has expanded its property portfolio into Europe.