Realty Income Corporation (O) To Go Ex-Dividend on August 1st

Realty Income Corporation (NYSE:O) declared a aug 25 dividend on Tuesday, July 8th, RTT News reports. Shareholders of record on Friday, August 1st will be given a dividend of 0.269 per share by the real estate investment trust on Friday, August 15th. This represents a yield of 5.7%. The ex-dividend date of this dividend is Friday, August 1st.

Realty Income has a dividend payout ratio of 213.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Realty Income to earn $4.32 per share next year, which means the company should continue to be able to cover its $3.22 annual dividend with an expected future payout ratio of 74.5%.

Realty Income Trading Down 0.9%

Shares of O stock opened at $56.98 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.74 and a quick ratio of 1.74. The firm has a market cap of $51.46 billion, a PE ratio of 51.80, a price-to-earnings-growth ratio of 4.02 and a beta of 0.75. The company has a 50-day moving average of $56.74 and a two-hundred day moving average of $55.82. Realty Income has a 1-year low of $50.71 and a 1-year high of $64.88.

Realty Income (NYSE:O) last announced its earnings results on Monday, May 5th. The real estate investment trust reported $1.06 earnings per share for the quarter, hitting the consensus estimate of $1.06. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.28 billion. Realty Income had a net margin of 18.15% and a return on equity of 2.51%. Realty Income’s revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.03 earnings per share. On average, analysts predict that Realty Income will post 4.19 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on O. JPMorgan Chase & Co. lowered their price objective on shares of Realty Income from $64.00 to $61.00 and set a “neutral” rating for the company in a research note on Monday, May 5th. Scotiabank lifted their target price on shares of Realty Income from $57.00 to $58.00 and gave the company a “sector perform” rating in a report on Monday, May 12th. Stifel Nicolaus lifted their target price on shares of Realty Income from $65.50 to $68.00 and gave the company a “buy” rating in a report on Tuesday, May 6th. Mizuho boosted their price objective on shares of Realty Income from $54.00 to $59.00 and gave the company a “neutral” rating in a research note on Thursday, April 3rd. Finally, UBS Group lowered their price target on shares of Realty Income from $64.00 to $62.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Realty Income currently has an average rating of “Hold” and a consensus target price of $61.15.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in Realty Income by 11.2% in the fourth quarter. Brighton Jones LLC now owns 6,101 shares of the real estate investment trust’s stock valued at $326,000 after acquiring an additional 615 shares in the last quarter. Bison Wealth LLC bought a new stake in Realty Income in the fourth quarter valued at $571,000. Empowered Funds LLC raised its stake in shares of Realty Income by 8.0% during the first quarter. Empowered Funds LLC now owns 18,029 shares of the real estate investment trust’s stock valued at $1,041,000 after purchasing an additional 1,330 shares in the last quarter. Intech Investment Management LLC raised its stake in shares of Realty Income by 14.9% during the first quarter. Intech Investment Management LLC now owns 25,401 shares of the real estate investment trust’s stock valued at $1,474,000 after purchasing an additional 3,290 shares in the last quarter. Finally, Woodline Partners LP raised its stake in shares of Realty Income by 41.3% during the first quarter. Woodline Partners LP now owns 73,942 shares of the real estate investment trust’s stock valued at $4,289,000 after purchasing an additional 21,603 shares in the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

About Realty Income

Realty Income, The Monthly Dividend Company, is an S&P 500 company and member of the S&P 500 Dividend Aristocrats index. We invest in people and places to deliver dependable monthly dividends that increase over time. The company is structured as a real estate investment trust (“REIT”), and its monthly dividends are supported by the cash flow from over 15,450 real estate properties (including properties acquired in the Spirit merger in January 2024) primarily owned under long-term net lease agreements with commercial clients.