Realty Income Co. (NYSE:O) declared a jun 18 dividend on Friday, May 18th, RTT News reports. Investors of record on Friday, June 1st will be given a dividend of 0.2195 per share by the real estate investment trust on Friday, June 15th. The ex-dividend date is Thursday, May 31st.
Realty Income has increased its dividend payment by an average of 4.9% annually over the last three years and has raised its dividend every year for the last 22 years. Realty Income has a payout ratio of 91.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Realty Income to earn $3.27 per share next year, which means the company should continue to be able to cover its $2.63 annual dividend with an expected future payout ratio of 80.4%.
NYSE O opened at $51.66 on Friday. Realty Income has a 1-year low of $47.25 and a 1-year high of $60.05. The company has a market capitalization of $14.71 billion, a P/E ratio of 16.88, a PEG ratio of 3.66 and a beta of 0.16. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.90.
Several equities analysts recently weighed in on O shares. B. Riley set a $56.00 price objective on Realty Income and gave the company a “hold” rating in a research note on Thursday, February 22nd. Stifel Nicolaus lowered their target price on Realty Income from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Mizuho reiterated a “hold” rating and set a $53.00 target price on shares of Realty Income in a report on Friday, March 2nd. DA Davidson upgraded Realty Income from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Wednesday, March 28th. Finally, ValuEngine cut Realty Income from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. Realty Income currently has a consensus rating of “Hold” and an average price target of $62.40.
In other news, EVP Benjamin N. Fox sold 2,276 shares of the firm’s stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $50.39, for a total transaction of $114,687.64. Following the sale, the executive vice president now owns 17,531 shares in the company, valued at $883,387.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by company insiders.
About Realty Income
Realty Income, The Monthly Dividend Company®, is an S&P 500 company dedicated to providing shareholders with dependable monthly income. The company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 5,000 real estate properties owned under long-term lease agreements with regional and national commercial tenants.
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