Realty Income Corp (NYSE:O) announced a nov 19 dividend on Tuesday, October 15th, RTT News reports. Investors of record on Friday, November 1st will be given a dividend of 0.227 per share by the real estate investment trust on Friday, November 15th. The ex-dividend date is Thursday, October 31st.
Realty Income has increased its dividend payment by an average of 5.0% annually over the last three years and has increased its dividend annually for the last 23 consecutive years. Realty Income has a dividend payout ratio of 85.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Realty Income to earn $3.52 per share next year, which means the company should continue to be able to cover its $2.72 annual dividend with an expected future payout ratio of 77.3%.
NYSE:O opened at $78.08 on Wednesday. The stock’s fifty day moving average is $75.88 and its 200 day moving average is $71.98. Realty Income has a fifty-two week low of $56.16 and a fifty-two week high of $78.97. The firm has a market capitalization of $24.79 billion, a PE ratio of 24.48, a PEG ratio of 6.11 and a beta of 0.06. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.23 and a current ratio of 1.23.
In other Realty Income news, Director A. Larry Chapman sold 8,000 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $75.09, for a total value of $600,720.00. Following the completion of the sale, the director now owns 14,757 shares of the company’s stock, valued at $1,108,103.13. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Paul M. Meurer sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $75.33, for a total value of $753,300.00. Following the completion of the sale, the chief financial officer now directly owns 30,468 shares of the company’s stock, valued at approximately $2,295,154.44. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.
Several brokerages have recently commented on O. ValuEngine lowered Realty Income from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Standpoint Research raised their price target on Realty Income to $83.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Wells Fargo & Co set a $82.00 price target on Realty Income and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Morgan Stanley raised their price target on Realty Income from $72.00 to $75.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 17th. Finally, Deutsche Bank began coverage on Realty Income in a research note on Tuesday, August 27th. They set a “hold” rating and a $73.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $78.10.
About Realty Income
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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