Realty Income Corp (NYSE:O) declared a aug 20 dividend on Monday, July 13th, RTT News reports. Stockholders of record on Monday, August 3rd will be given a dividend of 0.2335 per share by the real estate investment trust on Friday, August 14th. This represents a dividend yield of 4.8%. The ex-dividend date is Friday, July 31st.
Realty Income has increased its dividend by an average of 13.1% annually over the last three years and has raised its dividend annually for the last 24 consecutive years. Realty Income has a payout ratio of 186.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 $2.80 annual dividend with an expected future payout ratio of 79.5%.
Shares of NYSE:O opened at $60.62 on Thursday. Realty Income has a 1 year low of $38.00 and a 1 year high of $84.92. The stock’s fifty day moving average price is $59.53 and its 200-day moving average price is $62.53. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market cap of $20.55 billion, a P/E ratio of 17.66, a PEG ratio of 5.68 and a beta of 0.66.
A number of research analysts have recently issued reports on O shares. Citigroup lifted their price target on Realty Income from $49.00 to $61.00 and gave the company a “neutral” rating in a report on Thursday, July 2nd. Raymond James boosted their target price on Realty Income from $66.00 to $71.00 and gave the stock an “outperform” rating in a research note on Thursday, June 11th. They noted that the move was a valuation call. Morgan Stanley upgraded Realty Income from an “equal weight” rating to an “overweight” rating and set a $60.00 target price on the stock in a research note on Monday, May 4th. Berenberg Bank initiated coverage on Realty Income in a research note on Tuesday, June 30th. They set a “buy” rating and a $70.00 target price on the stock. Finally, Odeon Capital Group initiated coverage on Realty Income in a research note on Wednesday, April 8th. They set a “buy” rating and a $65.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $73.20.
Realty Income Company Profile
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.
Further Reading: Average Daily Trade Volume – What You Need to Know
Receive News & Ratings for Realty Income Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Realty Income and related companies with MarketBeat.com's FREE daily email newsletter.