Realty Income Corp (NYSE:O) Announces $0.23 Nov 19 Dividend

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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.

Realty Income (NYSE:O) last released its earnings results on Monday, August 5th. The real estate investment trust reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. Realty Income had a return on equity of 4.79% and a net margin of 27.86%. The business had revenue of $365.50 million for the quarter, compared to analyst estimates of $344.42 million. During the same quarter last year, the firm posted $0.34 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. Equities analysts forecast that Realty Income will post 3.29 EPS for the current year.

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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Dividend History for Realty Income (NYSE:O)

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