Realty Income Corp (NYSE:O) announced a aug 19 dividend on Tuesday, July 16th, RTT News reports. Investors of record on Thursday, August 1st will be given a dividend of 0.2265 per share by the real estate investment trust on Thursday, August 15th. The ex-dividend date of this dividend is Wednesday, July 31st.
Realty Income has raised its dividend payment by an average of 5.0% per year over the last three years and has raised its dividend every year for the last 23 years. Realty Income has a 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 tumble. Equities analysts expect Realty Income to earn $3.45 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 78.8%.
Shares of NYSE:O opened at $69.92 on Thursday. The company has a market cap of $22.11 billion, a price-to-earnings ratio of 21.92, a P/E/G ratio of 4.74 and a beta of 0.13. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.35 and a current ratio of 1.35. Realty Income has a 12-month low of $54.48 and a 12-month high of $74.14. The stock’s fifty day moving average is $71.03.
In other news, EVP Benjamin N. Fox sold 2,631 shares of Realty Income stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $70.70, for a total value of $186,011.70. Following the completion of the transaction, the executive vice president now directly owns 12,812 shares of the company’s stock, valued at approximately $905,808.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ronald Merriman sold 6,000 shares of Realty Income stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $70.72, for a total value of $424,320.00. Following the completion of the transaction, the director now directly owns 18,075 shares of the company’s stock, valued at $1,278,264. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,460 shares of company stock valued at $1,366,521. Corporate insiders own 0.20% of the company’s stock.
Several research analysts recently issued reports on O shares. Stifel Nicolaus raised their target price on Realty Income from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Zacks Investment Research lowered HEXO from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Citigroup set a $74.00 target price on Realty Income and gave the stock a “hold” rating in a research report on Tuesday, June 11th. Wells Fargo & Co lowered Biogen from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 21st. Finally, Morgan Stanley raised their target price on Visa from $175.00 to $191.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $66.00.
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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