Realty Income Corporation Announces Aug 25 Dividend of $0.27 (NYSE:O)

Realty Income Corporation (NYSE:O - Get Free Report) declared a aug 25 dividend on Tuesday, July 8th, RTT News reports. Shareholders of record on Friday, August 1st will be given a dividend of 0.269 per share by the real estate investment trust on Friday, August 15th. This represents a dividend yield of 5.7%. The ex-dividend date of this dividend is Friday, August 1st.

Realty Income has a payout ratio of 213.2% 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 analysts expect Realty Income to earn $4.32 per share next year, which means the company should continue to be able to cover its $3.22 annual dividend with an expected future payout ratio of 74.5%.

Realty Income Trading Down 0.9%

Shares of NYSE O traded down $0.51 during midday trading on Wednesday, hitting $56.98. 5,700,116 shares of the company traded hands, compared to its average volume of 5,243,837. Realty Income has a 12-month low of $50.71 and a 12-month high of $64.88. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.74 and a current ratio of 1.74. The stock has a 50-day moving average price of $56.76 and a 200 day moving average price of $55.82. The firm has a market cap of $51.46 billion, a P/E ratio of 51.80, a P/E/G ratio of 4.03 and a beta of 0.75.

Realty Income (NYSE:O - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.06. Realty Income had a net margin of 18.15% and a return on equity of 2.51%. The company had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter in the previous year, the company earned $1.03 earnings per share. Realty Income's quarterly revenue was up 9.5% on a year-over-year basis. As a group, analysts expect that Realty Income will post 4.19 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in O. Intech Investment Management LLC raised its position in Realty Income by 14.9% in the first quarter. Intech Investment Management LLC now owns 25,401 shares of the real estate investment trust's stock worth $1,474,000 after acquiring an additional 3,290 shares during the period. Woodline Partners LP raised its position in Realty Income by 41.3% in the first quarter. Woodline Partners LP now owns 73,942 shares of the real estate investment trust's stock worth $4,289,000 after acquiring an additional 21,603 shares during the period. Empowered Funds LLC raised its position in Realty Income by 8.0% in the first quarter. Empowered Funds LLC now owns 18,029 shares of the real estate investment trust's stock worth $1,041,000 after acquiring an additional 1,330 shares during the period. Bison Wealth LLC purchased a new stake in shares of Realty Income in the fourth quarter worth $571,000. Finally, Brighton Jones LLC increased its stake in shares of Realty Income by 11.2% in the fourth quarter. Brighton Jones LLC now owns 6,101 shares of the real estate investment trust's stock worth $326,000 after purchasing an additional 615 shares in the last quarter. Institutional investors own 70.81% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on O. Scotiabank boosted their price target on shares of Realty Income from $57.00 to $58.00 and gave the company a "sector perform" rating in a research report on Monday, May 12th. Wedbush restated a "neutral" rating and issued a $61.00 price objective on shares of Realty Income in a report on Wednesday, May 7th. UBS Group cut their price objective on shares of Realty Income from $64.00 to $62.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Barclays restated an "overweight" rating on shares of Realty Income in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Realty Income from $64.00 to $61.00 and set a "neutral" rating on the stock in a report on Monday, May 5th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $61.15.

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.