Realty Income Corporation (NYSE:O) declared a oct 17 dividend on Tuesday, September 12th, RTT News reports. Stockholders of record on Monday, October 2nd will be given a dividend of 0.212 per share by the real estate investment trust on Friday, October 13th. The ex-dividend date of this dividend is Friday, September 29th.

Realty Income Corporation has increased its dividend by an average of 3.7% per year over the last three years and has raised its dividend every year for the last 21 years. Realty Income Corporation has a payout ratio of 84.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Realty Income Corporation to earn $1.24 per share next year, which means the company may not be able to cover its $2.54 annual dividend with an expected future payout ratio of 204.8%.

Realty Income Corporation (NYSE O) traded down 0.89% during trading on Tuesday, hitting $58.92. 1,270,059 shares of the stock were exchanged. The stock’s 50-day moving average price is $57.58 and its 200-day moving average price is $57.53. Realty Income Corporation has a 12-month low of $52.72 and a 12-month high of $69.14. The firm has a market cap of $16.15 billion, a PE ratio of 50.40 and a beta of 0.31.

Realty Income Corporation (NYSE:O) last announced its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.76 EPS for the quarter, hitting the consensus estimate of $0.76. Realty Income Corporation had a net margin of 29.19% and a return on equity of 5.14%. The company had revenue of $300.20 million during the quarter, compared to analysts’ expectations of $289.86 million. During the same period last year, the company posted $0.70 earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities analysts expect that Realty Income Corporation will post $1.19 EPS for the current year.

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Several research analysts have commented on the stock. UBS AG upgraded shares of Realty Income Corporation from a “sell” rating to a “neutral” rating and raised their target price for the stock from $52.00 to $57.00 in a report on Friday. Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of Realty Income Corporation in a report on Thursday, July 27th. Canaccord Genuity assumed coverage on shares of Realty Income Corporation in a report on Tuesday, July 18th. They issued a “buy” rating and a $61.00 target price for the company. Morgan Stanley raised their target price on shares of Realty Income Corporation from $91.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, July 17th. Finally, FBR & Co assumed coverage on shares of Realty Income Corporation in a report on Monday, July 17th. They issued a “market perform” rating and a $56.00 target price for the company. Three research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $64.24.

In related news, Director Priya Cherian Huskins sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $56.23, for a total transaction of $449,840.00. Following the transaction, the director now owns 20,513 shares of the company’s stock, valued at $1,153,445.99. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.30% of the stock is owned by corporate insiders.

About Realty Income Corporation

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.

Dividend History for Realty Income Corporation (NYSE:O)

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