Realty Income Corp (O) To Go Ex-Dividend on July 31st

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.

Realty Income (NYSE:O) last announced its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.43). The company had revenue of $354.40 million for the quarter, compared to the consensus estimate of $335.37 million. Realty Income had a return on equity of 7.65% and a net margin of 28.70%. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.29 earnings per share. On average, equities analysts anticipate that Realty Income will post 3.3 earnings per share for the current fiscal year.

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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Dividend History for Realty Income (NYSE:O)

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