Realty Income Corporation (NYSE:O) Plans Dividend Increase – $0.27 Per Share

Realty Income Corporation (NYSE:O) declared a monthly dividend on Tuesday, November 10th. Investors of record on Monday, November 30th will be paid a dividend of $0.2740 per share by the real estate investment trust on Tuesday, December 15th. This represents a $3.29 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date is Monday, November 30th. This is a 0.9% increase from Realty Income’s previous monthly dividend of $0.2715.

Realty Income has a dividend payout ratio of 215.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Realty Income to earn $4.73 per share next year, which means the company should continue to be able to cover its $3.25 annual dividend with an expected future payout ratio of 68.7%.

Realty Income Stock Performance

O traded down $0.31 on Wednesday, reaching $59.23. 633,993 shares of the stock were exchanged, compared to its average volume of 6,455,628. The company’s 50-day moving average price is $57.02 and its 200 day moving average price is $61.53. Realty Income has a fifty-two week low of $53.15 and a fifty-two week high of $67.93. The company has a debt-to-equity ratio of 0.74, a current ratio of 6.04 and a quick ratio of 6.04. The firm has a market capitalization of $56.32 billion, a PE ratio of 40.80, a PEG ratio of 4.59 and a beta of 0.65.

Realty Income (NYSE:O) last announced its quarterly earnings data on Monday, November 2nd. The real estate investment trust reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.43 billion. Realty Income had a return on equity of 3.27% and a net margin of 21.85%. The company’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.08 earnings per share. As a group, sell-side analysts forecast that Realty Income will post 4.50 EPS for the current fiscal year.

About Realty Income

Realty Income Corporation is a real estate investment trust (REIT) that owns and manages commercial properties leased to businesses. Its portfolio includes retail, industrial, gaming, and other properties, typically leased under long-term net lease agreements in which tenants are responsible for many property operating expenses. Founded in 1969, Realty Income is known as “The Monthly Dividend Company” for its monthly dividend payments. The company serves tenants across the United States and has expanded its property portfolio into Europe.