Realty Income Corp (NYSE:O) declared a apr 18 dividend on Tuesday, March 13th, RTT News reports. Shareholders of record on Monday, April 2nd will be given a dividend of 0.2195 per share by the real estate investment trust on Friday, April 13th.
Realty Income has increased its dividend by an average of 4.9% per year over the last three years and has increased its dividend every year for the last 22 years. Realty Income has a dividend payout ratio of 91.0% meaning 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 to earn $3.28 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 80.2%.
Realty Income (O) opened at $51.45 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.15 and a quick ratio of 1.15. The company has a market capitalization of $14,620.00, a price-to-earnings ratio of 46.77, a price-to-earnings-growth ratio of 3.90 and a beta of 0.22. Realty Income has a one year low of $47.25 and a one year high of $62.31.
In other news, EVP Benjamin N. Fox sold 2,276 shares of the company’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 transaction, the executive vice president now owns 17,531 shares of the company’s stock, valued at $883,387.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.30% of the company’s stock.
A number of equities analysts have commented on the company. Mizuho reissued a “hold” rating and issued a $53.00 price objective on shares of Realty Income in a research note on Friday, March 2nd. Stifel Nicolaus reduced their price objective on Realty Income from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. B. Riley set a $56.00 price target on Realty Income and gave the company a “hold” rating in a research note on Thursday, February 22nd. Vetr raised Realty Income from a “hold” rating to a “buy” rating and set a $58.60 price target on the stock in a research note on Monday, November 20th. Finally, Raymond James Financial raised Realty Income from an “underperform” rating to a “market perform” rating in a research note on Wednesday, December 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $62.08.
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About Realty Income
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.
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