Realty Income Corporation (NYSE:O) announced a nov 17 dividend on Tuesday, October 10th, RTT News reports. Shareholders of record on Wednesday, November 1st will be paid a dividend of 0.212 per share by the real estate investment trust on Wednesday, November 15th. The ex-dividend date is Tuesday, October 31st.
Realty Income Corporation has raised its dividend payment by an average of 3.7% annually over the last three years and has increased its dividend every year for the last 21 years. Realty Income Corporation has a dividend payout ratio of 84.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Realty Income Corporation to earn $3.17 per share next year, which means the company should continue to be able to cover its $2.54 annual dividend with an expected future payout ratio of 80.1%.
Shares of Realty Income Corporation (NYSE O) traded up 0.51% during midday trading on Wednesday, reaching $56.90. The company’s stock had a trading volume of 477,992 shares. The firm has a market capitalization of $15.59 billion, a price-to-earnings ratio of 48.63 and a beta of 0.32. The firm’s 50 day moving average is $57.93 and its 200 day moving average is $57.26. Realty Income Corporation has a 52 week low of $52.72 and a 52 week high of $63.60.
Realty Income Corporation (NYSE:O) last issued its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.76 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.76. The company had revenue of $300.20 million for the quarter, compared to analysts’ expectations of $289.86 million. Realty Income Corporation had a return on equity of 5.14% and a net margin of 29.19%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.70 earnings per share. Equities analysts forecast that Realty Income Corporation will post $1.19 EPS for the current fiscal year.
A number of research analysts have commented on the company. UBS AG upgraded Realty Income Corporation from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $52.00 to $57.00 in a research note on Friday, September 8th. Ladenburg Thalmann Financial Services restated a “hold” rating on shares of Realty Income Corporation in a research note on Thursday, July 27th. BidaskClub upgraded Realty Income Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 17th. Morgan Stanley boosted their price objective on Realty Income Corporation from $91.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, July 17th. Finally, Canaccord Genuity assumed coverage on Realty Income Corporation in a research note on Tuesday, July 18th. They set a “buy” rating and a $61.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. Realty Income Corporation presently has a consensus rating of “Hold” and a consensus price target of $64.71.
In related news, Director Gregory Mclaughlin sold 3,200 shares of the business’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $58.85, for a total value of $188,320.00. Following the transaction, the director now owns 15,986 shares in the company, valued at $940,776.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.30% of the company’s stock.
About Realty Income Corporation
Realty Income Corporation is a real estate investment trust (REIT). The Company is engaged in in-house acquisition, portfolio management, asset management, credit research, real estate research, legal, finance and accounting, information technology and capital markets capabilities. As of December 31, 2016, the Company owned a diversified portfolio of 4,944 properties located in 49 states and Puerto Rico, with over 83.0 million square feet of leasable space leased to 248 different commercial tenants doing business in 47 separate industries.