Realty Income (O) Declares $0.26 Dividend


Realty Income said on October 10, 2023 that its board of directors declared a regular monthly dividend of $0.26 per share ($3.07 annualized). Previously, the company paid $0.26 per share.

Shares must be purchased before the ex-div date of October 31, 2023 to qualify for the dividend. Shareholders of record as of November 1, 2023 will receive the payment on November 15, 2023.

At the current share price of $50.95 / share, the stock’s dividend yield is 6.03%.

Looking back five years and taking a sample every week, the average dividend yield has been 4.39%, the lowest has been 3.37%, and the highest has been 6.45%. The standard deviation of yields is 0.56 (n=236).

The current dividend yield is 2.95 standard deviations above the historical average.

Additionally, the company’s dividend payout ratio is 2.51. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company’s 3-Year dividend growth rate is 0.09%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 1734 funds or institutions reporting positions in Realty Income. This is a decrease of 55 owner(s) or 3.07% in the last quarter. Average portfolio weight of all funds dedicated to O is 0.41%, a decrease of 6.71%. Total shares owned by institutions increased in the last three months by 2.77% to 614,943K shares. The put/call ratio of O is 0.83, indicating a bullish outlook.

Analyst Price Forecast Suggests 34.99% Upside

As of October 5, 2023, the average one-year price target for Realty Income is 68.78. The forecasts range from a low of 59.59 to a high of $77.70. The average price target represents an increase of 34.99% from its latest reported closing price of 50.95.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Realty Income is 3,703MM, an increase of 0.38%. The projected annual non-GAAP EPS is 1.41.

What are Other Shareholders Doing?

O / Realty Income Corp. Shares Held by Institutions

Cohen & Steers holds 45,308K shares representing 6.39% ownership of the company. In it’s prior filing, the firm reported owning 43,447K shares, representing an increase of 4.11%. The firm decreased its portfolio allocation in O by 3.97% over the last quarter.

VGSIX – Vanguard Real Estate Index Fund Investor Shares holds 27,833K shares representing 3.93% ownership of the company. In it’s prior filing, the firm reported owning 27,562K shares, representing an increase of 0.97%. The firm decreased its portfolio allocation in O by 4.13% over the last quarter.

Bank Of America holds 23,901K shares representing 3.37% ownership of the company. In it’s prior filing, the firm reported owning 25,146K shares, representing a decrease of 5.21%. The firm decreased its portfolio allocation in O by 8.41% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 20,960K shares representing 2.96% ownership of the company. In it’s prior filing, the firm reported owning 20,441K shares, representing an increase of 2.48%. The firm decreased its portfolio allocation in O by 10.67% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares holds 16,028K shares representing 2.26% ownership of the company. In it’s prior filing, the firm reported owning 14,635K shares, representing an increase of 8.69%. The firm decreased its portfolio allocation in O by 6.34% over the last quarter.

Realty Income Background Information
(This description is provided by the company.)

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 6,500 real estate properties owned under long-term lease agreements with commercial tenants. To date, the company has declared 606 consecutive common stock monthly dividends throughout its 51-year operating history and increased the dividend 109 times since Realty Income’s public listing in 1994 (NYSE: O). The company is a member of the S&P 500 Dividend Aristocrats® index.

Additional reading:

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



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