Realty Income Corp (NYSE:O) announced a feb 20 dividend on Thursday, February 13th, RTT News reports. Investors of record on Monday, March 2nd will be given a dividend of 0.2325 per share by the real estate investment trust on Friday, March 13th. This represents a yield of 3.5%. The ex-dividend date is Friday, February 28th.
Realty Income has increased its dividend payment by an average of 3.2% per year over the last three years and has raised its dividend every year for the last 24 years. Realty Income has a payout ratio of 184.8% meaning 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 $3.71 per share next year, which means the company should continue to be able to cover its $2.79 annual dividend with an expected future payout ratio of 75.2%.
Shares of O stock opened at $79.76 on Thursday. The firm has a market cap of $27.00 billion, a P/E ratio of 57.38, a P/E/G ratio of 5.70 and a beta of 0.07. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.33 and a quick ratio of 2.45. Realty Income has a 1-year low of $66.21 and a 1-year high of $84.92. The firm has a fifty day moving average of $78.08 and a two-hundred day moving average of $76.33.
Realty Income (NYSE:O) last announced its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.44). The company had revenue of $397.50 million for the quarter, compared to analyst estimates of $375.16 million. Realty Income had a return on equity of 4.89% and a net margin of 29.26%. Realty Income’s revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.79 earnings per share. On average, sell-side analysts expect that Realty Income will post 3.52 EPS for the current year.
Several research analysts have weighed in on O shares. Royal Bank of Canada reissued a “hold” rating and set a $75.00 price objective on shares of Realty Income in a report on Sunday, December 22nd. Mizuho raised shares of Realty Income from a “neutral” rating to a “buy” rating and set a $84.00 price objective for the company in a report on Wednesday, January 15th. Citigroup raised shares of Realty Income from a “neutral” rating to a “buy” rating and lifted their price target for the company from $78.00 to $87.00 in a report on Thursday, December 12th. Finally, Raymond James raised shares of Realty Income from a “market perform” rating to an “outperform” rating and set a $79.00 price target for the company in a report on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Realty Income has an average rating of “Buy” and an average target price of $81.82.
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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