Realty Income Corp (NYSE:O) announced a may 19 dividend on Tuesday, April 16th, RTT News reports. Investors of record on Wednesday, May 1st will be given a dividend of 0.226 per share by the real estate investment trust on Wednesday, May 15th. The ex-dividend date of this dividend is Tuesday, April 30th.
Realty Income has raised its dividend by an average of 5.0% annually over the last three years and has raised its dividend every year for the last 23 years. Realty Income has a payout ratio of 85.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Realty Income to earn $3.41 per share next year, which means the company should continue to be able to cover its $2.71 annual dividend with an expected future payout ratio of 79.5%.
Realty Income stock opened at $69.34 on Wednesday. Realty Income has a 52 week low of $48.80 and a 52 week high of $74.14. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market capitalization of $21.07 billion, a P/E ratio of 21.74, a price-to-earnings-growth ratio of 5.20 and a beta of 0.19.
Several research firms recently commented on O. Stifel Nicolaus boosted their price objective on shares of Realty Income from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Wells Fargo & Co boosted their price objective on shares of Realty Income from $71.00 to $78.00 and gave the stock an “outperform” rating in a research report on Thursday, March 21st. They noted that the move was a valuation call. Capital One Financial lowered shares of Realty Income from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, March 19th. Citigroup set a $70.00 target price on shares of Realty Income and gave the company a “hold” rating in a research note on Tuesday, February 26th. Finally, Zacks Investment Research downgraded shares of Realty Income from a “buy” rating to a “hold” rating in a research note on Friday, January 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $61.83.
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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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